Devon Energy Corporation $DVN Shares Purchased by National Pension Service

Key Points

• The National Pension Service increased its stake in Devon Energy Corporation (NYSE:DVN) by 5.0%, bringing its total to 1,237,526 shares, valued at approximately $46.3 million.
• Research analysts have set new price targets for Devon Energy, with Morgan Stanley aiming for $46.00 and Raymond James at $45.00, signaling a positive outlook for the company.
• Devon Energy has announced a quarterly dividend of $0.24 per share, yielding 2.8%, to be distributed on September 30th.

National Pension Service raised its holdings in shares of Devon Energy Corporation (NYSE:DVN - Free Report) by 5.0% during the first quarter, according to its most recent filing with the SEC. The firm owned 1,237,526 shares of the energy company's stock after purchasing an additional 58,989 shares during the period. National Pension Service owned 0.19% of Devon Energy worth $46,283,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of DVN. Fuller & Thaler Asset Management Inc. grew its position 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 worth $340,236,000 after buying an additional 3,114,656 shares during the last quarter. Vanguard Group Inc. raised its position in Devon Energy by 2.6% during the first quarter. Vanguard Group Inc. now owns 82,780,738 shares of the energy company's stock valued at $3,096,000,000 after acquiring an additional 2,098,568 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Devon Energy during the 1st quarter valued at about $69,975,000. Assenagon Asset Management S.A. lifted its stake in Devon Energy by 530.3% in the 1st quarter. Assenagon Asset Management S.A. now owns 2,067,465 shares of the energy company's stock valued at $77,323,000 after buying an additional 1,739,436 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. boosted its stake in shares of Devon Energy by 345.9% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 2,163,792 shares of the energy company's stock worth $70,821,000 after acquiring an additional 1,678,500 shares during the last quarter. 69.72% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Devon Energy

In other news, Director Kelt Kindick sold 7,685 shares of the company's stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $33.46, for a total transaction of $257,140.10. Following the completion of the transaction, the director directly owned 31,801 shares of the company's stock, valued at approximately $1,064,061.46. This represents a 19.46% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.73% of the stock is owned by company insiders.

Devon Energy Stock Up 0.5%

DVN stock traded up $0.1750 during mid-day trading on Tuesday, reaching $33.7250. The company had a trading volume of 2,406,406 shares, compared to its average volume of 8,965,750. The firm has a fifty day simple moving average of $33.27 and a 200 day simple moving average of $33.13. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.13 and a current ratio of 1.22. The company has a market capitalization of $21.41 billion, a price-to-earnings ratio of 7.57, a price-to-earnings-growth ratio of 1.92 and a beta of 1.07. Devon Energy Corporation has a fifty-two week low of $25.89 and a fifty-two week high of $46.04.

Devon Energy (NYSE:DVN - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The energy company reported $0.84 EPS for the quarter, topping analysts' consensus estimates of $0.83 by $0.01. The business had revenue of $4.28 billion during the quarter, compared to the consensus estimate of $4.01 billion. Devon Energy had a return on equity of 18.59% and a net margin of 16.57%.The business's revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.41 earnings per share. Analysts forecast that Devon Energy Corporation will post 4.85 earnings per share for the current fiscal year.

Devon Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be paid a $0.24 dividend. The ex-dividend date is Monday, September 15th. This represents a $0.96 dividend on an annualized basis and a yield of 2.8%. Devon Energy's dividend payout ratio (DPR) is currently 21.52%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. UBS Group boosted their price target on shares of Devon Energy from $35.00 to $37.00 and gave the stock a "neutral" rating in a research report on Friday, July 11th. The Goldman Sachs Group increased their price target on Devon Energy from $38.00 to $43.00 and gave the company a "buy" rating in a report on Thursday, May 15th. JPMorgan Chase & Co. upped their target price on Devon Energy from $40.00 to $42.00 and gave the company a "neutral" rating in a report on Tuesday, July 8th. Scotiabank reiterated an "outperform" rating on shares of Devon Energy in a report on Friday, July 11th. Finally, Bank of America decreased their price objective on Devon Energy from $52.00 to $42.00 and set a "buy" rating on the stock in a report on Tuesday, April 29th. Fifteen equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $44.04.

Devon Energy Profile

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.