Public Employees Retirement System of Ohio Reduces Holdings in Devon Energy Co. (NYSE:DVN)

Public Employees Retirement System of Ohio cut its stake in Devon Energy Co. (NYSE:DVN - Free Report) by 4.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 223,788 shares of the energy company's stock after selling 10,751 shares during the quarter. Public Employees Retirement System of Ohio's holdings in Devon Energy were worth $7,325,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Hurley Capital LLC bought a new position in Devon Energy in the 4th quarter worth $26,000. Accredited Wealth Management LLC bought a new position in Devon Energy in the 4th quarter worth $28,000. Cromwell Holdings LLC raised its holdings in Devon Energy by 98.0% in the 4th quarter. Cromwell Holdings LLC now owns 1,208 shares of the energy company's stock worth $40,000 after purchasing an additional 598 shares in the last quarter. Sierra Ocean LLC bought a new position in shares of Devon Energy in the 4th quarter worth about $43,000. Finally, Thompson Investment Management Inc. increased its stake in shares of Devon Energy by 60.0% in the 4th quarter. Thompson Investment Management Inc. now owns 1,600 shares of the energy company's stock worth $52,000 after acquiring an additional 600 shares in the last quarter. 69.72% of the stock is currently owned by institutional investors.

Devon Energy Stock Performance

Shares of NYSE DVN traded down $0.83 during trading on Friday, reaching $30.28. 18,138,161 shares of the company traded hands, compared to its average volume of 8,703,278. The firm has a 50 day simple moving average of $31.65 and a 200-day simple moving average of $34.05. 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 capitalization of $19.44 billion, a PE ratio of 6.64, a P/E/G ratio of 1.20 and a beta of 1.00. Devon Energy Co. has a 52-week low of $25.89 and a 52-week high of $49.35.

Devon Energy (NYSE:DVN - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The energy company reported $1.21 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.27 by ($0.06). The company had revenue of $4.45 billion for the quarter, compared to analysts' expectations of $4.31 billion. Devon Energy had a net margin of 18.14% and a return on equity of 22.52%. The business's revenue was up 23.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.16 EPS. Equities research analysts anticipate 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 issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date of this dividend is Friday, June 13th. Devon Energy's payout ratio is presently 21.87%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Wells Fargo & Company increased their price target on shares of Devon Energy from $44.00 to $46.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 14th. Citigroup decreased their price target on shares of Devon Energy from $46.00 to $43.00 and set a "buy" rating for the company in a research note on Friday, April 4th. JPMorgan Chase & Co. decreased their price target on shares of Devon Energy from $48.00 to $42.00 and set a "neutral" rating for the company in a research note on Thursday, March 13th. Cowen lowered shares of Devon Energy to a "hold" rating and decreased their price target for the stock from $46.00 to $45.00 in a research note on Tuesday, February 18th. Finally, Susquehanna decreased their price target on shares of Devon Energy from $52.00 to $41.00 and set a "positive" rating for the company in a research note on Tuesday, April 22nd. Ten analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $43.71.

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.