Devon Energy Corporation (NYSE:DVN) Shares Purchased by Stephens Inc. AR

Stephens Inc. AR increased its stake in Devon Energy Corporation (NYSE:DVN - Free Report) by 106.2% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 38,098 shares of the energy company's stock after purchasing an additional 19,623 shares during the quarter. Stephens Inc. AR's holdings in Devon Energy were worth $1,425,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. New York State Common Retirement Fund grew its position in Devon Energy by 5.1% during the first quarter. New York State Common Retirement Fund now owns 482,512 shares of the energy company's stock worth $18,046,000 after buying an additional 23,200 shares in the last quarter. Mutual of America Capital Management LLC lifted its stake in Devon Energy by 1.6% during 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 purchasing an additional 3,226 shares during the last quarter. Kathmere Capital Management LLC lifted its stake in Devon Energy by 102.9% during 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 during the last quarter. Ballentine Partners LLC lifted its stake in Devon Energy by 11.0% during 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 during the last quarter. Finally, Riversedge Advisors LLC lifted its stake in Devon Energy by 27.6% during 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 during the last quarter. 69.72% of the stock is currently owned by institutional investors.

Devon Energy Trading Up 0.2%

Shares of Devon Energy stock traded up $0.06 on Friday, hitting $32.84. 7,129,453 shares of the company traded hands, compared to its average volume of 8,903,695. The stock's 50 day moving average price is $32.82 and its 200-day moving average price is $33.54. The company has a current ratio of 1.08, a quick ratio of 0.99 and a debt-to-equity ratio of 0.57. 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 PEG ratio of 2.45 and a beta of 1.02.

Devon Energy (NYSE:DVN - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The energy company reported $1.21 earnings per share for the quarter, missing analysts' consensus estimates of $1.27 by ($0.06). The firm had revenue of $4.45 billion during 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 company's revenue was up 23.8% on a year-over-year basis. During the same quarter last year, the company posted $1.16 EPS. Equities research analysts predict that Devon Energy Corporation will post 4.85 EPS for the current year.

Devon Energy Announces Dividend

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

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on DVN. BMO Capital Markets boosted their price target on Devon Energy from $48.00 to $51.00 and gave the company an "outperform" rating in a report on Monday, July 14th. The Goldman Sachs Group boosted their price target on Devon Energy from $38.00 to $43.00 and gave the company a "buy" rating in a report on Thursday, May 15th. Siebert Williams Shank boosted their price target on Devon Energy from $47.00 to $52.00 and gave the company a "buy" rating in a report on Monday, June 23rd. Wells Fargo & Company upped their target price on Devon Energy from $41.00 to $42.00 and gave the stock an "overweight" rating in a report on Thursday, July 3rd. Finally, Wall Street Zen upgraded Devon Energy from a "sell" rating to a "hold" rating in a report on Thursday, May 15th. Eleven analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. According to MarketBeat, Devon Energy currently has an average rating of "Moderate Buy" and a consensus price target of $43.67.

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.