New York State Common Retirement Fund Buys 23,200 Shares of Devon Energy Corporation (NYSE:DVN)

New York State Common Retirement Fund grew its holdings in shares of Devon Energy Corporation (NYSE:DVN - Free Report) by 5.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 482,512 shares of the energy company's stock after buying an additional 23,200 shares during the period. New York State Common Retirement Fund owned 0.08% of Devon Energy worth $18,046,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in DVN. Mutual of America Capital Management LLC increased its stake in shares of Devon Energy by 1.6% in the first quarter. Mutual of America Capital Management LLC now owns 205,144 shares of the energy company's stock worth $7,672,000 after acquiring an additional 3,226 shares during the last quarter. Kathmere Capital Management LLC boosted its holdings in Devon Energy by 102.9% in the first quarter. Kathmere Capital Management LLC now owns 13,910 shares of the energy company's stock worth $520,000 after purchasing an additional 7,056 shares in the last quarter. Ballentine Partners LLC boosted its holdings in Devon Energy by 11.0% in the first quarter. Ballentine Partners LLC now owns 11,247 shares of the energy company's stock worth $421,000 after purchasing an additional 1,118 shares in the last quarter. Riversedge Advisors LLC boosted its holdings in Devon Energy by 27.6% in the first quarter. Riversedge Advisors LLC now owns 10,628 shares of the energy company's stock worth $397,000 after purchasing an additional 2,298 shares in the last quarter. Finally, Fortem Financial Group LLC boosted its holdings in Devon Energy by 45.0% in the first quarter. Fortem Financial Group LLC now owns 25,477 shares of the energy company's stock worth $953,000 after purchasing an additional 7,901 shares in the last quarter. Institutional investors own 69.72% of the company's stock.

Devon Energy Trading Up 0.2%

Shares of DVN stock traded up $0.06 during mid-day trading on Friday, hitting $32.84. The company's stock had a trading volume of 7,129,453 shares, compared to its average volume of 8,903,695. The company's fifty day simple moving average is $32.82 and its 200-day simple moving average is $33.54. Devon Energy Corporation has a 52 week low of $25.89 and a 52 week high of $48.40. The company has a market cap of $21.09 billion, a PE ratio of 7.48, a P/E/G ratio of 2.45 and a beta of 1.02. 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 posted its quarterly earnings results on Tuesday, May 6th. The energy company reported $1.21 EPS for the quarter, missing analysts' consensus estimates of $1.27 by ($0.06). Devon Energy had a return on equity of 21.90% and a net margin of 16.60%. The company had revenue of $4.45 billion during the quarter, compared to the consensus estimate of $4.31 billion. During the same period last year, the firm posted $1.16 EPS. The company's revenue for the quarter was up 23.8% compared to the same quarter last year. As a group, equities research analysts expect that Devon Energy Corporation will post 4.85 earnings per share for the current fiscal year.

Devon Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.92%. The ex-dividend date was Friday, June 13th. Devon Energy's payout ratio is 21.87%.

Analyst Ratings Changes

DVN has been the topic of several research analyst reports. Wolfe Research raised their price target on Devon Energy from $47.00 to $49.00 and gave the company an "outperform" rating in a research report on Monday, June 23rd. Royal Bank Of Canada lowered their price target on Devon Energy from $49.00 to $40.00 and set a "sector perform" rating on the stock in a research report on Monday, April 14th. Barclays raised their price target on Devon Energy from $38.00 to $40.00 and gave the company an "equal weight" rating in a research report on Wednesday, May 7th. Scotiabank reaffirmed an "outperform" rating on shares of Devon Energy in a research report on Friday, July 11th. Finally, Piper Sandler reissued an "overweight" rating and set a $58.00 target price (up from $53.00) on shares of Devon Energy in a research report on Thursday. Eleven equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $43.67.

Devon Energy Company 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.