Devon Energy Co. (NYSE:DVN) Shares Sold by Toronto Dominion Bank

Toronto Dominion Bank decreased its holdings in shares of Devon Energy Co. (NYSE:DVN - Free Report) by 30.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 215,875 shares of the energy company's stock after selling 92,851 shares during the quarter. Toronto Dominion Bank's holdings in Devon Energy were worth $7,066,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position 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 in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Devon Energy in the 4th quarter valued at about $154,170,000. Fuller & Thaler Asset Management Inc. grew its stake in 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 worth $340,236,000 after buying an additional 3,114,656 shares during the last quarter. Marshall Wace LLP increased its position in Devon Energy by 135.5% during the fourth quarter. Marshall Wace LLP now owns 5,371,518 shares of the energy company's stock worth $175,810,000 after buying an additional 3,090,585 shares during the period. Finally, Invesco Ltd. lifted its stake in Devon Energy by 32.8% in the fourth 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 last quarter. 69.72% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Williams Trading set a $50.00 price target on shares of Devon Energy in a research report on Wednesday, March 5th. Wells Fargo & Company upped their target price 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. Piper Sandler decreased their target price on shares of Devon Energy from $56.00 to $53.00 and set an "overweight" rating for the company in a research note on Tuesday, May 13th. Wall Street Zen upgraded Devon Energy from a "sell" rating to a "hold" rating in a research report on Thursday, May 15th. Finally, The Goldman Sachs Group upped their price objective on Devon Energy from $38.00 to $43.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. Ten analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $43.71.

Devon Energy Price Performance

NYSE DVN traded up $0.88 during mid-day trading on Tuesday, hitting $32.02. The stock had a trading volume of 6,772,444 shares, compared to its average volume of 8,677,159. The company has a 50 day simple moving average of $31.43 and a 200 day simple moving average of $33.91. 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 company has a market cap of $20.56 billion, a price-to-earnings ratio of 7.02, 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 for the quarter, missing analysts' consensus estimates of $1.27 by ($0.06). Devon Energy had a net margin of 18.14% and a return on equity of 22.52%. The firm had revenue of $4.45 billion during the quarter, compared to analysts' expectations of $4.31 billion. During the same quarter in the prior year, the business earned $1.16 EPS. The company's quarterly revenue was up 23.8% compared to the same quarter last year. Equities analysts forecast that Devon Energy Co. will post 4.85 EPS for the current fiscal year.

Devon Energy Dividend Announcement

The firm also recently announced 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 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date of this dividend is Friday, June 13th. Devon Energy's payout ratio is currently 21.87%.

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.