Tidal Investments LLC Has $1.60 Million Stock Holdings in Devon Energy Co. (NYSE:DVN)

Tidal Investments LLC cut its stake in Devon Energy Co. (NYSE:DVN - Free Report) by 36.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,752 shares of the energy company's stock after selling 28,501 shares during the period. Tidal Investments LLC's holdings in Devon Energy were worth $1,596,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of Devon Energy by 7.3% during the fourth quarter. Vanguard Group Inc. now owns 80,682,170 shares of the energy company's stock worth $2,640,727,000 after purchasing an additional 5,465,692 shares during the period. Geode Capital Management LLC raised its holdings in shares of Devon Energy by 6.5% during the fourth quarter. Geode Capital Management LLC now owns 16,931,275 shares of the energy company's stock worth $552,830,000 after purchasing an additional 1,038,305 shares during the period. Fuller & Thaler Asset Management Inc. raised its holdings in shares of Devon Energy by 42.8% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 10,395,225 shares of the energy company's stock worth $340,236,000 after purchasing an additional 3,114,656 shares during the period. Victory Capital Management Inc. raised its holdings in shares of Devon Energy by 2.3% during the fourth quarter. Victory Capital Management Inc. now owns 10,203,812 shares of the energy company's stock worth $333,971,000 after purchasing an additional 232,469 shares during the period. Finally, Invesco Ltd. raised its holdings in shares of Devon Energy by 32.8% during the fourth quarter. Invesco Ltd. now owns 9,461,719 shares of the energy company's stock worth $309,682,000 after purchasing an additional 2,335,473 shares during the period. 69.72% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Citigroup dropped their target price on shares of Devon Energy from $46.00 to $43.00 and set a "buy" rating on the stock in a report on Friday, April 4th. Raymond James set a $40.00 price objective on shares of Devon Energy in a report on Monday, April 21st. Cowen cut shares of Devon Energy to a "hold" rating and dropped their price objective for the stock from $46.00 to $45.00 in a report on Tuesday, February 18th. Scotiabank dropped their price objective on shares of Devon Energy from $45.00 to $35.00 and set a "sector outperform" rating on the stock in a report on Friday, April 11th. Finally, JPMorgan Chase & Co. dropped their price objective 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. Ten equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $43.71.

Devon Energy Price Performance

Shares of NYSE:DVN traded down $0.16 during trading hours on Thursday, hitting $30.71. 2,270,477 shares of the company's stock traded hands, compared to its average volume of 8,636,114. Devon Energy Co. has a 52 week low of $25.89 and a 52 week high of $49.35. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.01 and a current ratio of 1.04. The company's fifty day simple moving average is $31.90 and its two-hundred day simple moving average is $34.16. The company has a market cap of $19.72 billion, a price-to-earnings ratio of 6.74, a price-to-earnings-growth ratio of 1.20 and a beta of 1.00.

Devon Energy (NYSE:DVN - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The energy company reported $1.21 earnings per share for the quarter, missing the consensus estimate of $1.27 by ($0.06). Devon Energy had a net margin of 18.14% and a return on equity of 22.52%. The business had revenue of $4.45 billion for the quarter, compared to the consensus estimate of $4.31 billion. During the same quarter last year, the business posted $1.16 EPS. The business's revenue for the quarter was up 23.8% on a year-over-year basis. As a group, equities analysts anticipate that Devon Energy Co. will post 4.85 EPS for the current fiscal 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 given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date is Friday, June 13th. Devon Energy's dividend payout ratio (DPR) is 21.87%.

Devon Energy 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.