10,010 Shares in Devon Energy Corporation (NYSE:DVN) Acquired by MQS Management LLC

MQS Management LLC bought a new stake in shares of Devon Energy Corporation (NYSE:DVN - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 10,010 shares of the energy company's stock, valued at approximately $374,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in DVN. Hurley Capital LLC purchased a new position in shares of Devon Energy during the 4th quarter valued at approximately $26,000. Financial Gravity Asset Management Inc. purchased a new position in shares of Devon Energy during the 1st quarter valued at approximately $26,000. Accredited Wealth Management LLC purchased a new position in shares of Devon Energy during the 4th quarter valued at approximately $28,000. Rakuten Securities Inc. lifted its holdings in Devon Energy by 94.6% in the 1st quarter. Rakuten Securities Inc. now owns 833 shares of the energy company's stock valued at $31,000 after purchasing an additional 405 shares in the last quarter. Finally, Hughes Financial Services LLC purchased a new position in Devon Energy in the 1st quarter valued at $38,000. Hedge funds and other institutional investors own 69.72% of the company's stock.

Devon Energy Trading Up 3.2%

NYSE DVN traded up $1.02 during trading on Thursday, hitting $32.77. The stock had a trading volume of 6,666,032 shares, compared to its average volume of 8,894,305. The company has a market capitalization of $21.04 billion, a PE ratio of 7.46, a PEG ratio of 2.37 and a beta of 1.02. The company has a quick ratio of 0.99, a current ratio of 1.08 and a debt-to-equity ratio of 0.57. The firm has a 50 day moving average price of $32.82 and a 200 day moving average price of $33.54. Devon Energy Corporation has a twelve month low of $25.89 and a twelve month high of $49.08.

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 the consensus estimate of $1.27 by ($0.06). The firm had revenue of $4.45 billion during the quarter, compared to analyst estimates 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 period in the prior year, the firm earned $1.16 earnings per share. As a group, equities research analysts forecast that Devon Energy Corporation will post 4.85 earnings per share for the current year.

Devon Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.93%. The ex-dividend date of this dividend was Friday, June 13th. Devon Energy's dividend payout ratio is currently 21.87%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on DVN shares. Bernstein Bank decreased their price objective on Devon Energy from $45.00 to $43.00 and set an "outperform" rating on the stock in a report on Monday, July 7th. The Goldman Sachs Group raised their price objective on Devon Energy from $38.00 to $43.00 and gave the company a "buy" rating in a report on Thursday, May 15th. Wall Street Zen upgraded Devon Energy from a "sell" rating to a "hold" rating in a report on Thursday, May 15th. UBS Group raised their price objective on Devon Energy from $35.00 to $37.00 and gave the company a "neutral" rating in a report on Friday, July 11th. Finally, Piper Sandler reiterated an "overweight" rating and set a $58.00 price target (up previously from $53.00) on shares of Devon Energy in a report on Thursday. Eleven equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $43.67.

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.