Twinbeech Capital LP Takes $523,000 Position in Devon Energy Co. (NYSE:DVN)

Twinbeech Capital LP purchased a new position in shares of Devon Energy Co. (NYSE:DVN - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 15,967 shares of the energy company's stock, valued at approximately $523,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Two Sigma Investments LP bought a new stake in shares of Devon Energy in the fourth quarter valued at $256,000. Texas Bank & Trust Co purchased a new position in shares of Devon Energy during the 4th quarter valued at about $360,000. Trace Wealth Advisors LLC purchased a new stake in shares of Devon Energy in the 4th quarter valued at $334,000. Sagefield Capital LP purchased a new position in Devon Energy in the 4th quarter worth approximately $9,428,000. Finally, Scissortail Wealth Management LLC raised its holdings in Devon Energy by 11,566.8% during the 4th quarter. Scissortail Wealth Management LLC now owns 47,484 shares of the energy company's stock valued at $1,554,000 after buying an additional 47,077 shares during the last quarter. Hedge funds and other institutional investors own 69.72% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. UBS Group reduced their price target on shares of Devon Energy from $41.00 to $35.00 and set a "neutral" rating on the stock in a research report on Monday, April 7th. Barclays raised their price target on shares of Devon Energy from $38.00 to $40.00 and gave the company an "equal weight" rating in a research report on Wednesday, May 7th. JPMorgan Chase & Co. decreased their price target on Devon Energy from $48.00 to $42.00 and set a "neutral" rating for the company in a research note on Thursday, March 13th. Wells Fargo & Company increased their price objective on Devon Energy from $44.00 to $46.00 and gave the company an "overweight" rating in a research report on Wednesday, May 14th. Finally, Morgan Stanley lifted their price objective on Devon Energy from $42.00 to $44.00 and gave the stock an "overweight" rating in a report on Friday. Ten analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $43.71.

Devon Energy Trading Up 0.6%

DVN traded up $0.20 on Tuesday, hitting $31.36. The company had a trading volume of 3,720,593 shares, compared to its average volume of 8,640,515. The company has a current ratio of 1.04, a quick ratio of 1.01 and a debt-to-equity ratio of 0.57. The firm has a market cap of $20.13 billion, a P/E ratio of 6.88, a PEG ratio of 1.20 and a beta of 1.00. The company's fifty day moving average price is $32.10 and its 200 day moving average price is $34.20. Devon Energy Co. has a 1 year low of $25.89 and a 1 year high of $49.35.

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 for the quarter, missing analysts' consensus estimates of $1.27 by ($0.06). Devon Energy had a return on equity of 22.52% and a net margin of 18.14%. The firm had revenue of $4.45 billion for the quarter, compared to analysts' expectations of $4.31 billion. During the same quarter in the previous year, the company posted $1.16 earnings per share. The firm's quarterly revenue was up 23.8% on a year-over-year basis. As a group, equities analysts expect that Devon Energy Co. will post 4.85 earnings per share for the current year.

Devon Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be paid a dividend of $0.24 per share. The ex-dividend date is Friday, June 13th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.06%. Devon Energy's dividend payout ratio (DPR) is 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.