Illinois Municipal Retirement Fund Sells 15,613 Shares of Devon Energy Corporation (NYSE:DVN)

Illinois Municipal Retirement Fund lowered its stake in shares of Devon Energy Corporation (NYSE:DVN - Free Report) by 49.7% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 15,778 shares of the energy company's stock after selling 15,613 shares during the quarter. Illinois Municipal Retirement Fund's holdings in Devon Energy were worth $590,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in Devon Energy by 7.3% during the fourth quarter. Vanguard Group Inc. now owns 80,682,170 shares of the energy company's stock valued at $2,640,727,000 after acquiring an additional 5,465,692 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Devon Energy by 6.5% in the 4th quarter. Geode Capital Management LLC now owns 16,931,275 shares of the energy company's stock valued at $552,830,000 after purchasing an additional 1,038,305 shares in the last quarter. Fuller & Thaler Asset Management Inc. boosted its stake in shares of Devon Energy by 42.8% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 10,395,225 shares of the energy company's stock valued at $340,236,000 after purchasing an additional 3,114,656 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Devon Energy by 32.8% during the 4th quarter. Invesco Ltd. now owns 9,461,719 shares of the energy company's stock valued at $309,682,000 after purchasing an additional 2,335,473 shares during the last quarter. Finally, Northern Trust Corp raised its position in Devon Energy by 2.4% in the 4th quarter. Northern Trust Corp now owns 6,260,735 shares of the energy company's stock worth $204,914,000 after purchasing an additional 144,789 shares during the period. 69.72% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on DVN shares. Citigroup cut their price target on shares of Devon Energy from $46.00 to $43.00 and set a "buy" rating for the company in a research report on Friday, April 4th. Scotiabank dropped their target price on Devon Energy from $45.00 to $35.00 and set a "sector outperform" rating for the company in a report on Friday, April 11th. Wells Fargo & Company reduced their price target on Devon Energy from $46.00 to $41.00 and set an "overweight" rating on the stock in a research report on Monday, June 16th. UBS Group decreased their price target on Devon Energy from $41.00 to $35.00 and set a "neutral" rating on the stock in a research note on Monday, April 7th. Finally, Mizuho dropped their price objective on Devon Energy from $46.00 to $43.00 and set an "outperform" rating for the company in a research note on Tuesday, May 13th. Ten analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, Devon Energy has an average rating of "Moderate Buy" and an average target price of $43.50.

Devon Energy Stock Down 0.6%

Shares of NYSE DVN traded down $0.21 during mid-day trading on Friday, hitting $33.20. 2,849,156 shares of the stock traded hands, compared to its average volume of 8,849,039. The company has a market cap of $21.32 billion, a price-to-earnings ratio of 7.56, a PEG ratio of 2.49 and a beta of 1.02. The stock has a fifty day moving average price of $32.37 and a 200-day moving average price of $33.40. Devon Energy Corporation has a 52 week low of $25.89 and a 52 week high of $49.35. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.99 and a current ratio of 1.08.

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

Devon Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors 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 yield of 2.89%. Devon Energy's dividend payout ratio (DPR) is currently 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.