Nisa Investment Advisors LLC Has $2.57 Million Stock Position in Devon Energy Corporation (NYSE:DVN)

Nisa Investment Advisors LLC boosted its position in shares of Devon Energy Corporation (NYSE:DVN - Free Report) by 30.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 68,596 shares of the energy company's stock after acquiring an additional 16,114 shares during the period. Nisa Investment Advisors LLC's holdings in Devon Energy were worth $2,565,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in DVN. Hurley Capital LLC bought a new position in Devon Energy during the fourth quarter valued at about $26,000. Accredited Wealth Management LLC bought a new position in Devon Energy during the fourth quarter valued at about $28,000. Rakuten Securities Inc. increased its stake in Devon Energy by 94.6% during the first quarter. Rakuten Securities Inc. now owns 833 shares of the energy company's stock valued at $31,000 after acquiring an additional 405 shares during the period. Salem Investment Counselors Inc. increased its stake in Devon Energy by 46.7% during the first quarter. Salem Investment Counselors Inc. now owns 1,257 shares of the energy company's stock valued at $47,000 after acquiring an additional 400 shares during the period. Finally, Redmont Wealth Advisors LLC bought a new position in Devon Energy during the first quarter valued at about $56,000. 69.72% of the stock is currently owned by institutional investors.

Devon Energy Trading Up 0.1%

NYSE:DVN traded up $0.04 during trading hours on Friday, hitting $33.99. 5,716,112 shares of the stock were exchanged, compared to its average volume of 8,890,464. The company's 50 day moving average is $32.69 and its two-hundred day moving average is $33.53. Devon Energy Corporation has a twelve month low of $25.89 and a twelve month high of $49.35. 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 company has a market capitalization of $21.82 billion, a P/E ratio of 7.74, a price-to-earnings-growth ratio of 2.53 and a beta of 1.02.

Devon Energy (NYSE:DVN - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The energy company reported $1.21 earnings per share (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 analyst estimates of $4.31 billion. Devon Energy had a return on equity of 21.90% and a net margin of 16.60%. The firm's quarterly revenue was up 23.8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.16 EPS. On average, sell-side analysts anticipate that Devon Energy Corporation will post 4.85 earnings per share for the current fiscal year.

Devon Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.82%. The ex-dividend date of this dividend was Friday, June 13th. Devon Energy's dividend payout ratio (DPR) is currently 21.87%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on DVN shares. UBS Group boosted their price target on Devon Energy from $35.00 to $37.00 and gave the company a "neutral" rating in a research note on Friday. Wells Fargo & Company lowered their price objective on Devon Energy from $46.00 to $41.00 and set an "overweight" rating on the stock in a research note on Monday, June 16th. Scotiabank upped their price objective on Devon Energy from $35.00 to $40.00 and gave the company a "sector outperform" rating in a research note on Friday. Mizuho lowered their price objective on Devon Energy from $46.00 to $43.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 13th. Finally, Susquehanna lowered their price objective on Devon Energy from $52.00 to $41.00 and set a "positive" rating on the stock in a research note on Tuesday, April 22nd. Ten analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $43.79.

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.