Devon Energy Corporation (NYSE:DVN) Stock Position Cut by Vontobel Holding Ltd.

Vontobel Holding Ltd. lowered its position in shares of Devon Energy Corporation (NYSE:DVN - Free Report) by 83.0% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 5,835 shares of the energy company's stock after selling 28,460 shares during the quarter. Vontobel Holding Ltd.'s holdings in Devon Energy were worth $218,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in shares of Devon Energy by 7.3% in the fourth 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 grew its position in Devon Energy by 6.5% in 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 purchasing an additional 3,114,656 shares during the period. Invesco Ltd. raised its stake in shares of Devon Energy by 32.8% during the fourth quarter. Invesco Ltd. now owns 9,461,719 shares of the energy company's stock valued at $309,682,000 after purchasing an additional 2,335,473 shares during the period. Finally, Northern Trust Corp lifted its position in shares of Devon Energy by 2.4% during the fourth quarter. Northern Trust Corp now owns 6,260,735 shares of the energy company's stock worth $204,914,000 after purchasing an additional 144,789 shares in the last quarter. Institutional investors and hedge funds own 69.72% of the company's stock.

Devon Energy Stock Performance

Shares of DVN traded down $0.62 during midday trading on Thursday, hitting $33.98. 7,752,167 shares of the stock traded hands, compared to its average volume of 8,879,341. The business's 50 day moving average price is $32.64 and its two-hundred day moving average price is $33.49. The firm has a market capitalization of $21.82 billion, a PE ratio of 7.74, a price-to-earnings-growth ratio of 2.59 and a beta of 1.02. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.99 and a current ratio of 1.08. Devon Energy Corporation has a 1-year low of $25.89 and a 1-year high of $49.35.

Devon Energy (NYSE:DVN - Get Free Report) last posted its 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 return on equity of 21.90% and a net margin of 16.60%. The firm had revenue of $4.45 billion during the quarter, compared to the consensus estimate of $4.31 billion. During the same quarter last year, the company posted $1.16 EPS. Devon Energy's revenue for the quarter was up 23.8% on a year-over-year basis. Equities research analysts predict that Devon Energy Corporation will post 4.85 EPS for the current fiscal year.

Devon Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date of this dividend was Friday, June 13th. Devon Energy's dividend payout ratio (DPR) is 21.87%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on DVN shares. Morgan Stanley lifted their price target on shares of Devon Energy from $42.00 to $44.00 and gave the stock an "overweight" rating in a research note on Friday, May 23rd. Wells Fargo & Company cut their price target on Devon Energy from $46.00 to $41.00 and set an "overweight" rating on the stock in a research note on Monday, June 16th. Piper Sandler lowered their price objective on Devon Energy from $56.00 to $53.00 and set an "overweight" rating for the company in a research note on Tuesday, May 13th. UBS Group dropped their price objective on Devon Energy from $41.00 to $35.00 and set a "neutral" rating on the stock in a report on Monday, April 7th. Finally, Wall Street Zen upgraded Devon Energy from a "sell" rating to a "hold" rating in a research note on Thursday, May 15th. Ten investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, Devon Energy has a consensus rating of "Moderate Buy" and a consensus price target of $43.50.

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.