Devon Energy Co. (NYSE:DVN) Shares Purchased by Rhumbline Advisers

Rhumbline Advisers raised its stake in shares of Devon Energy Co. (NYSE:DVN - Free Report) by 10.2% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,253,112 shares of the energy company's stock after purchasing an additional 115,835 shares during the period. Rhumbline Advisers owned 0.20% of Devon Energy worth $46,866,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake 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 buying an additional 5,465,692 shares during the period. Geode Capital Management LLC grew its stake in shares of Devon Energy by 6.5% during the 4th quarter. Geode Capital Management LLC now owns 16,931,275 shares of the energy company's stock valued at $552,830,000 after buying an additional 1,038,305 shares during the period. Fuller & Thaler Asset Management Inc. grew its stake 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 buying an additional 3,114,656 shares during the period. Victory Capital Management Inc. grew its stake in shares of Devon Energy by 2.3% during the 4th quarter. Victory Capital Management Inc. now owns 10,203,812 shares of the energy company's stock valued at $333,971,000 after buying an additional 232,469 shares during the period. Finally, Invesco Ltd. grew its stake 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 buying an additional 2,335,473 shares during the period. Institutional investors and hedge funds own 69.72% of the company's stock.

Devon Energy Stock Down 0.6%

Shares of DVN stock traded down $0.18 during trading hours on Thursday, hitting $31.38. 4,917,199 shares of the company were exchanged, compared to its average volume of 8,663,966. The stock has a market capitalization of $20.15 billion, a price-to-earnings ratio of 6.88, a P/E/G ratio of 1.20 and a beta of 1.02. Devon Energy Co. has a one year low of $25.89 and a one year high of $49.35. The business's 50-day simple moving average is $31.32 and its two-hundred day simple moving average is $33.90. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.01 and a current ratio of 1.04.

Devon Energy (NYSE:DVN - Get Free Report) last released its 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 22.52% and a net margin of 18.14%. The firm had revenue of $4.45 billion for the quarter, compared to the consensus estimate of $4.31 billion. During the same period in the prior year, the business earned $1.16 EPS. The company's quarterly revenue was up 23.8% on a year-over-year basis. Sell-side analysts predict that Devon Energy Co. will post 4.85 EPS for the current fiscal year.

Devon Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date is Friday, June 13th. Devon Energy's dividend payout ratio is presently 21.87%.

Analyst Ratings Changes

Several analysts have recently issued reports on DVN shares. Williams Trading set a $50.00 price objective on shares of Devon Energy in a research note on Wednesday, March 5th. Bank of America lowered their price objective on shares of Devon Energy from $52.00 to $42.00 and set a "buy" rating for the company in a research note on Tuesday, April 29th. The Goldman Sachs Group boosted their price objective on shares of Devon Energy from $38.00 to $43.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. Cowen cut 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 report on Tuesday, February 18th. Finally, Raymond James set a $40.00 price target on Devon Energy in a report on Monday, April 21st. Ten investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $43.71.

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.