Yacktman Asset Management LP Has $24.17 Million Stock Position in Devon Energy Corporation (NYSE:DVN)

Yacktman Asset Management LP raised its position in shares of Devon Energy Corporation (NYSE:DVN - Free Report) by 2.0% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 646,344 shares of the energy company's stock after purchasing an additional 12,749 shares during the period. Yacktman Asset Management LP owned 0.10% of Devon Energy worth $24,173,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. CapWealth Advisors LLC lifted its stake in shares of Devon Energy by 1.0% in the 1st quarter. CapWealth Advisors LLC now owns 396,910 shares of the energy company's stock worth $14,844,000 after acquiring an additional 3,839 shares during the period. M&T Bank Corp lifted its stake in shares of Devon Energy by 1.6% in the 1st quarter. M&T Bank Corp now owns 40,509 shares of the energy company's stock worth $1,515,000 after acquiring an additional 651 shares during the period. Pekin Hardy Strauss Inc. lifted its stake in shares of Devon Energy by 20.5% in the 1st quarter. Pekin Hardy Strauss Inc. now owns 208,579 shares of the energy company's stock worth $7,801,000 after acquiring an additional 35,469 shares during the period. Crossmark Global Holdings Inc. raised its holdings in shares of Devon Energy by 16.7% in the 1st quarter. Crossmark Global Holdings Inc. now owns 27,470 shares of the energy company's stock worth $1,027,000 after purchasing an additional 3,922 shares in the last quarter. Finally, Gilliland Jeter Wealth Management LLC raised its holdings in shares of Devon Energy by 7.5% in the 1st quarter. Gilliland Jeter Wealth Management LLC now owns 25,157 shares of the energy company's stock worth $941,000 after purchasing an additional 1,760 shares in the last quarter. 69.72% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Citigroup dropped their target price on shares of Devon Energy from $46.00 to $43.00 and set a "buy" rating on the stock in a report on Friday, April 4th. Scotiabank boosted their target price on shares of Devon Energy from $35.00 to $40.00 and gave the stock a "sector outperform" rating in a report on Friday. Royal Bank Of Canada dropped their target price on shares of Devon Energy from $49.00 to $40.00 and set a "sector perform" rating on the stock in a report on Monday, April 14th. Wall Street Zen upgraded shares of Devon Energy from a "sell" rating to a "hold" rating in a report on Thursday, May 15th. Finally, The Goldman Sachs Group boosted their price target on shares of Devon Energy from $38.00 to $43.00 and gave the company a "buy" rating in a report on Thursday, May 15th. Ten research analysts have rated the stock with a hold rating and fourteen have assigned 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 price target of $43.79.

Devon Energy Stock Performance

NYSE:DVN traded up $0.04 during trading hours on Friday, hitting $33.99. 5,716,112 shares of the company traded hands, compared to its average volume of 8,874,719. The stock has a market capitalization of $21.82 billion, a price-to-earnings ratio of 7.74, a P/E/G ratio of 2.53 and a beta of 1.02. Devon Energy Corporation has a twelve month low of $25.89 and a twelve month high of $49.35. The firm has a 50-day moving average of $32.69 and a 200 day moving average of $33.51. The company has a current ratio of 1.08, a quick ratio of 0.99 and a debt-to-equity ratio of 0.57.

Devon Energy (NYSE:DVN - Get Free Report) last released 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 net margin of 16.60% and a return on equity of 21.90%. 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 earned $1.16 earnings per share. Devon Energy's revenue for the quarter was up 23.8% compared to the same quarter last year. On average, analysts forecast that Devon Energy Corporation will post 4.85 EPS for the current year.

Devon Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.82%. The ex-dividend date of this dividend was Friday, June 13th. Devon Energy's dividend payout ratio is 21.87%.

Devon Energy 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.