Vident Advisory LLC Reduces Stake in Devon Energy Co. (NYSE:DVN)

Vident Advisory LLC decreased its holdings in shares of Devon Energy Co. (NYSE:DVN - Free Report) by 67.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 11,018 shares of the energy company's stock after selling 22,507 shares during the quarter. Vident Advisory LLC's holdings in Devon Energy were worth $361,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Devon Energy by 7.3% during the 4th quarter. Vanguard Group Inc. now owns 80,682,170 shares of the energy company's stock valued at $2,640,727,000 after buying an additional 5,465,692 shares in the last quarter. Geode Capital Management LLC raised its stake 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 valued at $552,830,000 after acquiring an additional 1,038,305 shares in the last quarter. Fuller & Thaler Asset Management Inc. raised its stake 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 valued at $340,236,000 after acquiring an additional 3,114,656 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Devon Energy by 2.3% in the fourth quarter. Victory Capital Management Inc. now owns 10,203,812 shares of the energy company's stock valued at $333,971,000 after purchasing an additional 232,469 shares during the period. Finally, Invesco Ltd. grew 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 worth $309,682,000 after purchasing an additional 2,335,473 shares in the last quarter. 69.72% of the stock is currently owned by hedge funds and other institutional investors.

Devon Energy Stock Performance

Shares of Devon Energy stock traded up $0.83 during midday trading on Monday, hitting $31.09. The company had a trading volume of 10,155,338 shares, compared to its average volume of 8,682,806. The company has a fifty day simple moving average of $31.52 and a 200 day simple moving average of $33.93. The stock has a market cap of $19.96 billion, a price-to-earnings ratio of 6.82, a PEG ratio of 1.20 and a beta of 1.00. 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 Co. has a 12-month low of $25.89 and a 12-month high of $49.35.

Devon Energy (NYSE:DVN - Get Free Report) last issued its quarterly 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). Devon Energy had a net margin of 18.14% and a return on equity of 22.52%. The company had revenue of $4.45 billion for the quarter, compared to analyst estimates of $4.31 billion. During the same quarter in the previous year, the company posted $1.16 EPS. The company's revenue for the quarter was up 23.8% compared to the same quarter last year. As a group, analysts predict that Devon Energy Co. will post 4.85 earnings per share for the current fiscal year.

Devon Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be paid 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 yield of 3.09%. Devon Energy's dividend payout ratio (DPR) is 21.87%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on DVN. Truist Financial lifted their target price on Devon Energy from $42.00 to $44.00 and gave the company a "hold" rating in a research report on Thursday, February 20th. JPMorgan Chase & Co. decreased their price objective on Devon Energy from $48.00 to $42.00 and set a "neutral" rating for the company in a report on Thursday, March 13th. Wall Street Zen raised shares of Devon Energy from a "sell" rating to a "hold" rating in a research note on Thursday, May 15th. Barclays raised their target price 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. Finally, Williams Trading set a $50.00 price target on shares of Devon Energy in a report on Wednesday, March 5th. Ten investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, Devon Energy currently has a consensus rating of "Moderate Buy" and an average target price of $43.71.

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.