Teza Capital Management LLC Has $802,000 Position in Devon Energy Co. (NYSE:DVN)

Teza Capital Management LLC decreased its position in shares of Devon Energy Co. (NYSE:DVN - Free Report) by 67.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 24,505 shares of the energy company's stock after selling 49,920 shares during the quarter. Teza Capital Management LLC's holdings in Devon Energy were worth $802,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Merit Financial Group LLC acquired a new stake in Devon Energy during the 4th quarter worth $240,000. HB Wealth Management LLC boosted its position in shares of Devon Energy by 3.8% in the 4th quarter. HB Wealth Management LLC now owns 16,043 shares of the energy company's stock worth $525,000 after purchasing an additional 594 shares during the last quarter. Clarius Group LLC acquired a new stake in shares of Devon Energy during the fourth quarter worth $558,000. Annex Advisory Services LLC increased its holdings in Devon Energy by 1.2% in the fourth quarter. Annex Advisory Services LLC now owns 27,021 shares of the energy company's stock valued at $884,000 after purchasing an additional 327 shares during the last quarter. Finally, Gilman Hill Asset Management LLC bought a new stake in Devon Energy in the fourth quarter valued at about $4,860,000. 69.72% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

DVN has been the subject of several analyst reports. Royal Bank of Canada decreased their target price on Devon Energy from $49.00 to $40.00 and set a "sector perform" rating for the company in a research report on Monday, April 14th. Wells Fargo & Company boosted their price objective on shares of Devon Energy from $44.00 to $46.00 and gave the company an "overweight" rating in a report on Wednesday, May 14th. Morgan Stanley set a $47.00 price target on shares of Devon Energy and gave the stock an "overweight" rating in a research report on Wednesday, March 26th. 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 report on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Devon Energy from $48.00 to $42.00 and set a "neutral" rating for the company in a research report on Thursday, March 13th. Ten 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.com, Devon Energy presently has a consensus rating of "Moderate Buy" and an average target price of $43.83.

Devon Energy Trading Down 1.8%

Shares of NYSE:DVN opened at $32.66 on Tuesday. The company's 50-day moving average price is $32.46 and its two-hundred day moving average price is $34.48. Devon Energy Co. has a one year low of $25.89 and a one year high of $50.24. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 1.01. The stock has a market capitalization of $20.97 billion, a PE ratio of 7.16, a price-to-earnings-growth ratio of 1.20 and a beta of 1.00.

Devon Energy (NYSE:DVN - Get Free Report) last released its earnings results 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 company had revenue of $4.45 billion for the quarter, compared to the consensus estimate of $4.31 billion. Devon Energy had a return on equity of 22.52% and a net margin of 18.14%. The business's revenue was up 23.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.16 EPS. On average, equities analysts forecast that Devon Energy Co. will post 4.85 EPS for the current fiscal year.

Devon Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.94%. The ex-dividend date is Friday, June 13th. Devon Energy's dividend payout ratio (DPR) 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.

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