TrueMark Investments LLC Makes New $458,000 Investment in Devon Energy Corporation (NYSE:DVN)

TrueMark Investments LLC bought a new stake in Devon Energy Corporation (NYSE:DVN - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 12,237 shares of the energy company's stock, valued at approximately $458,000.

Other hedge funds have also made changes to their positions in the company. Hurley Capital LLC acquired a new stake in Devon Energy in the 4th quarter valued at about $26,000. Accredited Wealth Management LLC purchased a new stake in shares of Devon Energy in the fourth quarter valued at about $28,000. Rakuten Securities Inc. grew its position in shares of Devon Energy by 94.6% in the first quarter. Rakuten Securities Inc. now owns 833 shares of the energy company's stock valued at $31,000 after purchasing an additional 405 shares during the last quarter. Salem Investment Counselors Inc. increased its stake in shares of Devon Energy by 46.7% during the 1st quarter. Salem Investment Counselors Inc. now owns 1,257 shares of the energy company's stock worth $47,000 after purchasing an additional 400 shares in the last quarter. Finally, Sound Income Strategies LLC increased its stake in shares of Devon Energy by 100.1% during the 1st quarter. Sound Income Strategies LLC now owns 1,911 shares of the energy company's stock worth $71,000 after purchasing an additional 956 shares in the last quarter. Hedge funds and other institutional investors own 69.72% of the company's stock.

Devon Energy Stock Performance

NYSE DVN opened at $34.25 on Monday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 0.99. Devon Energy Corporation has a 1-year low of $25.89 and a 1-year high of $49.35. The firm has a market capitalization of $21.99 billion, a P/E ratio of 7.80, a P/E/G ratio of 2.56 and a beta of 1.02. The business's 50-day simple moving average is $31.91 and its 200-day simple moving average is $33.50.

Devon Energy (NYSE:DVN - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The energy company reported $1.21 EPS for the quarter, missing the consensus estimate of $1.27 by ($0.06). Devon Energy had a net margin of 16.60% and a return on equity of 21.90%. The business had revenue of $4.45 billion during the quarter, compared to analysts' expectations of $4.31 billion. During the same quarter in the previous year, the business posted $1.16 EPS. The company's quarterly revenue was up 23.8% on a year-over-year basis. Equities analysts predict that Devon Energy Corporation will post 4.85 EPS for the current year.

Devon Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.96 annualized dividend and a dividend yield of 2.80%. Devon Energy's payout ratio is 21.87%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on DVN shares. Mizuho lowered their target price on Devon Energy from $46.00 to $43.00 and set an "outperform" rating on the stock in a report on Tuesday, May 13th. Citigroup decreased their price objective on Devon Energy from $46.00 to $43.00 and set a "buy" rating on the stock in a research note on Friday, April 4th. Royal Bank Of Canada cut their target price on shares of Devon Energy from $49.00 to $40.00 and set a "sector perform" rating for the company in a research note on Monday, April 14th. Williams Trading set a $50.00 target price on shares of Devon Energy in a report on Wednesday, March 5th. Finally, Barclays raised their price target on shares of Devon Energy from $38.00 to $40.00 and gave the stock an "equal weight" rating in a research note on Wednesday, May 7th. Ten equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $43.50.

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.

Want to see what other hedge funds are holding DVN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Devon Energy Corporation (NYSE:DVN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.