Devon Energy Corporation (NYSE:DVN) Shares Sold by Vontobel Holding Ltd.

Vontobel Holding Ltd. reduced its stake in Devon Energy Corporation (NYSE:DVN - Free Report) by 83.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor 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 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in DVN. Vanguard Group Inc. lifted its position 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 acquiring an additional 5,465,692 shares in the last quarter. Fuller & Thaler Asset Management Inc. lifted its position in shares of Devon Energy by 42.8% in 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. Marshall Wace LLP lifted its position in shares of Devon Energy by 135.5% in the fourth quarter. Marshall Wace LLP now owns 5,371,518 shares of the energy company's stock valued at $175,810,000 after acquiring an additional 3,090,585 shares in the last quarter. Invesco Ltd. lifted its position in shares of Devon Energy by 32.8% in the fourth quarter. Invesco Ltd. now owns 9,461,719 shares of the energy company's stock valued at $309,682,000 after acquiring an additional 2,335,473 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in Devon Energy by 530.3% during the first quarter. Assenagon Asset Management S.A. now owns 2,067,465 shares of the energy company's stock worth $77,323,000 after buying an additional 1,739,436 shares during the period. 69.72% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on DVN. Susquehanna reduced their target price on Devon Energy from $52.00 to $41.00 and set a "positive" rating on the stock in a research report on Tuesday, April 22nd. Wells Fargo & Company reduced their target price on Devon Energy from $46.00 to $41.00 and set an "overweight" rating on the stock in a research report on Monday, June 16th. Barclays increased their target price on Devon Energy from $38.00 to $40.00 and gave the stock an "equal weight" rating in a research report on Wednesday, May 7th. Bank of America reduced their target price on Devon Energy from $52.00 to $42.00 and set a "buy" rating on the stock in a research report on Tuesday, April 29th. Finally, Mizuho reduced their target price on Devon Energy from $46.00 to $43.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 13th. Ten equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $43.79.

Devon Energy Stock Up 0.1%

NYSE DVN traded up $0.04 during mid-day trading on Friday, reaching $33.99. 5,612,639 shares of the company's stock traded hands, compared to its average volume of 8,866,388. Devon Energy Corporation has a 1-year low of $25.89 and a 1-year high of $49.35. The company has a fifty day simple moving average of $32.64 and a 200-day simple moving average of $33.49. The company has a current ratio of 1.08, a quick ratio of 0.99 and a debt-to-equity ratio of 0.57. The company has a market cap of $21.82 billion, a price-to-earnings ratio of 7.74, a P/E/G ratio of 2.59 and a beta of 1.02.

Devon Energy (NYSE:DVN - Get Free Report) last issued its quarterly earnings data 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). The business had revenue of $4.45 billion for the quarter, compared to analyst estimates of $4.31 billion. Devon Energy had a net margin of 16.60% and a return on equity of 21.90%. Devon Energy's revenue for the quarter was up 23.8% compared to the same quarter last year. During the same quarter last year, the business earned $1.16 EPS. As a group, equities research analysts expect that Devon Energy Corporation will post 4.85 EPS for the current year.

Devon Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were given a $0.24 dividend. The ex-dividend date was Friday, June 13th. This represents a $0.96 annualized dividend and a dividend yield of 2.82%. Devon Energy's payout ratio 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.