Healthcare of Ontario Pension Plan Trust Fund Reduces Stock Position in Devon Energy Corporation $DVN

Healthcare of Ontario Pension Plan Trust Fund cut its holdings in Devon Energy Corporation (NYSE:DVN - Free Report) by 98.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 38,973 shares of the energy company's stock after selling 1,871,992 shares during the period. Healthcare of Ontario Pension Plan Trust Fund's holdings in Devon Energy were worth $1,961,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Tobam increased its stake in Devon Energy by 16.4% during the fourth quarter. Tobam now owns 1,633 shares of the energy company's stock worth $60,000 after acquiring an additional 230 shares during the last quarter. TD Private Client Wealth LLC lifted its stake in shares of Devon Energy by 3.4% in the 4th quarter. TD Private Client Wealth LLC now owns 7,152 shares of the energy company's stock valued at $262,000 after purchasing an additional 236 shares during the last quarter. Catalyst Financial Partners LLC lifted its stake in shares of Devon Energy by 3.9% in the 4th quarter. Catalyst Financial Partners LLC now owns 6,712 shares of the energy company's stock valued at $246,000 after purchasing an additional 254 shares during the last quarter. Cary Street Partners Investment Advisory LLC boosted its holdings in shares of Devon Energy by 21.0% in the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 1,480 shares of the energy company's stock worth $54,000 after purchasing an additional 257 shares during the period. Finally, Zions Bancorporation National Association UT increased its position in shares of Devon Energy by 7.9% during the 4th quarter. Zions Bancorporation National Association UT now owns 3,527 shares of the energy company's stock valued at $129,000 after purchasing an additional 258 shares during the last quarter. 69.72% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Devon Energy news, SVP Andrea Alexander sold 18,000 shares of the firm's stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $46.74, for a total transaction of $841,320.00. Following the transaction, the senior vice president directly owned 138,529 shares in the company, valued at $6,474,845.46. This trade represents a 11.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Jeffrey L. Ritenour sold 70,029 shares of Devon Energy stock in a transaction on Monday, May 11th. The shares were sold at an average price of $46.66, for a total value of $3,267,553.14. Following the sale, the executive vice president directly owned 428,452 shares of the company's stock, valued at approximately $19,991,570.32. This trade represents a 14.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 112,371 shares of company stock worth $5,258,059 in the last ninety days. 4.58% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

DVN has been the topic of a number of analyst reports. Weiss Ratings reiterated a "hold (c)" rating on shares of Devon Energy in a research report on Thursday, June 11th. Citigroup upped their price target on shares of Devon Energy from $60.00 to $65.00 and gave the company a "buy" rating in a report on Wednesday, May 20th. Roth Capital reissued a "buy" rating and issued a $57.00 price objective on shares of Devon Energy in a research report on Tuesday, April 28th. Wolfe Research set a $67.00 price objective on shares of Devon Energy and gave the stock an "outperform" rating in a research note on Monday, June 22nd. Finally, Barclays boosted their target price on Devon Energy from $54.00 to $62.00 and gave the company an "overweight" rating in a research report on Tuesday, May 26th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $59.56.

Devon Energy Trading Up 2.1%

Shares of DVN opened at $45.08 on Friday. The firm has a market capitalization of $28.01 billion, a price-to-earnings ratio of 12.56 and a beta of 0.38. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.01 and a quick ratio of 0.94. Devon Energy Corporation has a 1-year low of $31.47 and a 1-year high of $52.71. The company has a 50-day moving average of $43.64 and a 200 day moving average of $44.63.

Devon Energy (NYSE:DVN - Get Free Report) last issued its earnings results on Tuesday, May 5th. The energy company reported $1.04 EPS for the quarter, missing analysts' consensus estimates of $1.06 by ($0.02). The company had revenue of $3.81 billion during the quarter, compared to the consensus estimate of $4.34 billion. Devon Energy had a return on equity of 15.22% and a net margin of 13.71%.Devon Energy's revenue was down 14.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.82 earnings per share. On average, research analysts expect that Devon Energy Corporation will post 4.64 EPS for the current year.

Devon Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were paid a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 2.8%. This is an increase from Devon Energy's previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Monday, June 15th. Devon Energy's payout ratio is currently 35.65%.

Devon Energy Profile

Devon Energy Corporation NYSE: DVN is an independent oil and gas exploration and production company headquartered in Oklahoma City, Oklahoma. The company focuses on the exploration, development, production and marketing of hydrocarbons, including crude oil, natural gas liquids (NGLs) and natural gas. Devon operates as an upstream energy company that acquires, evaluates and develops onshore resource plays using a combination of drilling, completion and production optimization techniques.

Core business activities include identifying and developing energy reserves, operating well programs and managing reservoir performance to generate production and cash flow.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.