Devon Energy Co. (NYSE:DVN) Shares Bought by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC grew its holdings in Devon Energy Co. (NYSE:DVN - Free Report) by 112.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,026,396 shares of the energy company's stock after buying an additional 1,598,579 shares during the period. Wealth Enhancement Advisory Services LLC owned approximately 0.47% of Devon Energy worth $99,054,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew 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 purchasing an additional 5,465,692 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Devon Energy by 6.5% in the 4th 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 during the period. Fuller & Thaler Asset Management Inc. raised its holdings in 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 worth $340,236,000 after purchasing an additional 3,114,656 shares in the last quarter. Victory Capital Management Inc. lifted its position in Devon Energy by 2.3% during 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 acquiring an additional 232,469 shares during the last quarter. Finally, Invesco Ltd. boosted its position in shares of Devon Energy by 32.8% in the 4th 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 owned by institutional investors.

Analysts Set New Price Targets

DVN has been the subject of a number of recent analyst reports. Cowen cut shares of Devon Energy to a "hold" rating and lowered their target price for the stock from $46.00 to $45.00 in a research note on Tuesday, February 18th. Raymond James set a $40.00 price target on shares of Devon Energy in a report on Monday, April 21st. Benchmark reissued a "buy" rating and issued a $44.00 price objective on shares of Devon Energy in a report on Thursday, February 20th. Citigroup decreased their price target on shares of Devon Energy from $46.00 to $43.00 and set a "buy" rating on the stock in a research note on Friday, April 4th. Finally, UBS Group dropped their target price on shares of Devon Energy from $41.00 to $35.00 and set a "neutral" rating for the company in a report on Monday, April 7th. Ten research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $43.71.

Devon Energy Trading Down 2.7%

Devon Energy stock traded down $0.83 during trading on Friday, hitting $30.28. The company had a trading volume of 18,138,161 shares, compared to its average volume of 8,703,272. 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 stock has a market cap of $19.44 billion, a price-to-earnings ratio of 6.64, a price-to-earnings-growth ratio of 1.20 and a beta of 1.00. Devon Energy Co. has a 1-year low of $25.89 and a 1-year high of $49.35. The company's 50 day simple moving average is $31.79 and its 200-day simple moving average is $34.11.

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

Devon Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be given a dividend of $0.24 per share. The ex-dividend date is Friday, June 13th. This represents a $0.96 annualized dividend and a dividend yield of 3.17%. Devon Energy's dividend payout ratio (DPR) is currently 21.87%.

About Devon Energy

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.