Devon Energy Co. (NYSE:DVN) Shares Sold by Nuveen Asset Management LLC

Nuveen Asset Management LLC cut its stake in shares of Devon Energy Co. (NYSE:DVN - Free Report) by 4.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,264,863 shares of the energy company's stock after selling 61,532 shares during the period. Nuveen Asset Management LLC owned 0.19% of Devon Energy worth $41,399,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Devon Energy by 7.3% during the 4th 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 in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Devon Energy during the 4th quarter valued at $154,170,000. Fuller & Thaler Asset Management Inc. lifted its holdings in shares of Devon Energy by 42.8% during 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 acquiring an additional 3,114,656 shares in the last quarter. Marshall Wace LLP lifted its holdings in shares of Devon Energy by 135.5% during the 4th quarter. Marshall Wace LLP now owns 5,371,518 shares of the energy company's stock valued at $175,810,000 after acquiring an additional 3,090,585 shares in the last quarter. Finally, Invesco Ltd. lifted 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 acquiring an additional 2,335,473 shares in the last quarter. 69.72% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

DVN has been the topic of several recent research reports. JPMorgan Chase & Co. reduced their target price on shares of Devon Energy from $48.00 to $42.00 and set a "neutral" rating on the stock in a report on Thursday, March 13th. UBS Group reduced their target price on shares of Devon Energy from $41.00 to $35.00 and set a "neutral" rating on the stock in a report on Monday, April 7th. Bank of America reduced their target price on shares of Devon Energy from $52.00 to $42.00 and set a "buy" rating on the stock in a report on Tuesday, April 29th. Mizuho reduced their target price on shares of Devon Energy from $46.00 to $43.00 and set an "outperform" rating on the stock in a report on Tuesday, May 13th. Finally, Benchmark reiterated a "buy" rating and issued a $44.00 price objective on shares of Devon Energy in a report on Thursday, February 20th. Ten equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $43.71.

Devon Energy Stock Performance

NYSE DVN traded up $0.01 on Friday, hitting $31.15. The stock had a trading volume of 7,037,546 shares, compared to its average volume of 8,640,839. Devon Energy Co. has a one year low of $25.89 and a one year high of $49.35. The company has a quick ratio of 1.01, a current ratio of 1.04 and a debt-to-equity ratio of 0.57. The stock has a market cap of $20.00 billion, a price-to-earnings ratio of 6.83, a P/E/G ratio of 1.20 and a beta of 1.00. The company's 50-day moving average is $32.20 and its two-hundred day moving average is $34.33.

Devon Energy (NYSE:DVN - Get Free Report) last posted its earnings results on Tuesday, May 6th. The energy company reported $1.21 EPS for the quarter, missing the consensus estimate of $1.27 by ($0.06). Devon Energy had a return on equity of 22.52% and a net margin of 18.14%. The firm had revenue of $4.45 billion during the quarter, compared to the consensus estimate of $4.31 billion. During the same quarter last year, the company posted $1.16 EPS. Devon Energy's revenue for the quarter was up 23.8% on a year-over-year basis. On average, analysts expect that Devon Energy Co. will post 4.85 earnings per share for the current year.

Devon Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date of this dividend is Friday, June 13th. Devon Energy's dividend payout ratio is currently 21.87%.

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.