Toronto Dominion Bank Sells 92,851 Shares of Devon Energy Co. (NYSE:DVN)

Toronto Dominion Bank decreased its position in shares of Devon Energy Co. (NYSE:DVN - Free Report) by 30.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). 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 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Hurley Capital LLC bought a new position in Devon Energy during the 4th quarter worth approximately $26,000. Accredited Wealth Management LLC bought a new position in Devon Energy during the 4th quarter worth approximately $28,000. Cromwell Holdings LLC raised its holdings in Devon Energy by 98.0% during the 4th quarter. Cromwell Holdings LLC now owns 1,208 shares of the energy company's stock worth $40,000 after buying an additional 598 shares during the period. Sierra Ocean LLC acquired a new stake in Devon Energy during the 4th quarter worth approximately $43,000. Finally, Endeavor Private Wealth Inc. acquired a new stake in Devon Energy during the 4th quarter worth approximately $52,000. Institutional investors own 69.72% of the company's stock.

Devon Energy Stock Performance

Shares of Devon Energy stock traded down $0.01 during trading on Tuesday, reaching $31.15. The company's stock had a trading volume of 1,466,021 shares, compared to its average volume of 8,631,428. The business's 50-day moving average price is $32.10 and its 200-day moving average price is $34.20. The firm has a market cap of $20.00 billion, a PE ratio of 6.84, 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. The company has a quick ratio of 1.01, a current ratio of 1.04 and a debt-to-equity ratio of 0.57.

Devon Energy (NYSE:DVN - Get Free Report) last announced its earnings results on Tuesday, May 6th. The energy company reported $1.21 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.27 by ($0.06). The business had revenue of $4.45 billion during the quarter, compared to the consensus estimate of $4.31 billion. Devon Energy had a net margin of 18.14% and a return on equity of 22.52%. The company's revenue was up 23.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.16 EPS. Equities analysts forecast that Devon Energy Co. will post 4.85 earnings per share for the current year.

Devon Energy Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.08%. Devon Energy's payout ratio is presently 21.87%.

Analysts Set New Price Targets

Several analysts have commented 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. Royal Bank of Canada dropped their target price on shares of Devon Energy from $49.00 to $40.00 and set a "sector perform" rating on the stock in a report on Monday, April 14th. Mizuho dropped their target price on shares of Devon Energy from $46.00 to $43.00 and set an "outperform" rating on the stock in a report on Tuesday, May 13th. Barclays raised their target price on shares of Devon Energy from $38.00 to $40.00 and gave the stock an "equal weight" rating in a report on Wednesday, May 7th. Finally, Williams Trading set a $50.00 target price on shares of Devon Energy in a report on Wednesday, March 5th. Ten analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $43.71.

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.