IFM Investors Pty Ltd Acquires 35,418 Shares of Devon Energy Corporation (NYSE:DVN)

IFM Investors Pty Ltd raised its holdings in shares of Devon Energy Corporation (NYSE:DVN - Free Report) by 31.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 147,657 shares of the energy company's stock after acquiring an additional 35,418 shares during the quarter. IFM Investors Pty Ltd's holdings in Devon Energy were worth $5,776,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. 44 Wealth Management LLC grew its stake in Devon Energy by 31.5% during the 1st quarter. 44 Wealth Management LLC now owns 35,944 shares of the energy company's stock valued at $1,344,000 after acquiring an additional 8,605 shares in the last quarter. D.A. Davidson & CO. grew its stake in shares of Devon Energy by 70.8% in the 1st quarter. D.A. Davidson & CO. now owns 341,790 shares of the energy company's stock valued at $12,783,000 after buying an additional 141,688 shares in the last quarter. Oregon Public Employees Retirement Fund grew its stake in shares of Devon Energy by 2.7% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 57,889 shares of the energy company's stock valued at $2,165,000 after buying an additional 1,530 shares in the last quarter. Resonant Capital Advisors LLC grew its stake in shares of Devon Energy by 10.8% in the 1st quarter. Resonant Capital Advisors LLC now owns 57,199 shares of the energy company's stock valued at $2,139,000 after buying an additional 5,563 shares in the last quarter. Finally, Lodestone Wealth Management LLC grew its stake in shares of Devon Energy by 50.2% in the 1st quarter. Lodestone Wealth Management LLC now owns 26,352 shares of the energy company's stock valued at $986,000 after buying an additional 8,806 shares in the last quarter. Hedge funds and other institutional investors own 69.72% of the company's stock.

Wall Street Analysts Forecast Growth

DVN has been the subject of several recent research reports. Scotiabank lowered their price target on Devon Energy from $45.00 to $35.00 and set a "sector outperform" rating for the company in a research note on Friday, April 11th. UBS Group reduced their target price on Devon Energy from $41.00 to $35.00 and set a "neutral" rating for the company in a report on Monday, April 7th. Raymond James Financial set a $40.00 price target on Devon Energy in a report on Monday, April 21st. Barclays upped their price target on Devon Energy from $38.00 to $40.00 and gave the stock an "equal weight" rating in a report on Wednesday, May 7th. Finally, Mizuho cut their price target on Devon Energy from $46.00 to $43.00 and set an "outperform" rating for the company in a report on Tuesday, May 13th. Ten equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $43.50.

Devon Energy Price Performance

NYSE DVN traded up $2.21 during midday trading on Tuesday, hitting $34.89. The company had a trading volume of 10,364,671 shares, compared to its average volume of 9,320,797. The firm has a 50-day moving average price of $32.43 and a 200-day moving average price of $33.45. The company has a market capitalization of $22.40 billion, a PE ratio of 7.95, a P/E/G ratio of 2.49 and a beta of 1.02. The company has a current ratio of 1.08, a quick ratio of 0.99 and a debt-to-equity ratio of 0.57. Devon Energy Corporation has a twelve month low of $25.89 and a twelve month high of $49.35.

Devon Energy (NYSE:DVN - Get Free Report) last released its earnings results on Tuesday, May 6th. The energy company reported $1.21 earnings per share for the quarter, missing analysts' consensus estimates of $1.27 by ($0.06). The company had revenue of $4.45 billion for the quarter, compared to the consensus estimate of $4.31 billion. Devon Energy had a net margin of 16.60% and a return on equity of 21.90%. The business's revenue was up 23.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.16 earnings per share. As a group, analysts anticipate that Devon Energy Corporation will post 4.85 earnings per share for the current fiscal year.

Devon Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were given a dividend of $0.24 per share. The ex-dividend date was Friday, June 13th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.75%. Devon Energy's payout ratio is 21.87%.

About Devon Energy

Devon Energy Corporation, an independent energy company, engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States. It operates in Delaware, Eagle Ford, Anadarko, Williston, and Powder River Basins. The company was founded in 1971 and is headquartered in Oklahoma City, Oklahoma.