Johnson Financial Group Inc. Sells 9,923 Shares of Devon Energy Co. (NYSE:DVN)

Johnson Financial Group Inc. trimmed its stake in shares of Devon Energy Co. (NYSE:DVN - Free Report) by 36.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 17,251 shares of the energy company's stock after selling 9,923 shares during the quarter. Johnson Financial Group Inc.'s holdings in Devon Energy were worth $588,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in DVN. Hurley Capital LLC bought a new stake in shares of Devon Energy during the 4th quarter valued at $26,000. Cromwell Holdings LLC increased its stake in Devon Energy by 98.0% in the 4th quarter. Cromwell Holdings LLC now owns 1,208 shares of the energy company's stock worth $40,000 after acquiring an additional 598 shares during the last quarter. Sierra Ocean LLC bought a new position in Devon Energy in the 4th quarter worth about $43,000. Endeavor Private Wealth Inc. bought a new position in Devon Energy in the 4th quarter worth about $52,000. Finally, Thompson Investment Management Inc. increased its stake in Devon Energy by 60.0% in the 4th quarter. Thompson Investment Management Inc. now owns 1,600 shares of the energy company's stock worth $52,000 after acquiring an additional 600 shares during the last quarter. 69.72% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. StockNews.com upgraded Devon Energy from a "sell" rating to a "hold" rating in a research note on Friday, January 3rd. Sanford C. Bernstein upgraded Devon Energy from a "market perform" rating to an "outperform" rating and set a $45.00 target price on the stock in a research note on Wednesday, January 15th. Royal Bank of Canada decreased their target price on Devon Energy from $49.00 to $40.00 and set a "sector perform" rating on the stock in a research note on Monday, April 14th. Mizuho decreased their target price on Devon Energy from $49.00 to $46.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. Finally, Cowen cut Devon Energy to a "hold" rating and cut their price objective for the stock from $46.00 to $45.00 in a report on Tuesday, February 18th. Ten analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $43.87.

Devon Energy Trading Down 2.8 %

DVN traded down $0.87 during midday trading on Wednesday, reaching $30.43. 7,571,478 shares of the company's stock traded hands, compared to its average volume of 8,511,377. The firm has a fifty day moving average of $33.29 and a two-hundred day moving average of $35.25. The stock has a market capitalization of $19.58 billion, a price-to-earnings ratio of 6.67, a P/E/G ratio of 1.20 and a beta of 1.50. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 1.01. Devon Energy Co. has a 52 week low of $25.89 and a 52 week high of $52.25.

Devon Energy (NYSE:DVN - Get Free Report) last released its quarterly earnings results on Tuesday, February 18th. The energy company reported $1.16 EPS for the quarter, beating analysts' consensus estimates of $1.00 by $0.16. The business had revenue of $4.40 billion during the quarter, compared to analyst estimates of $4.25 billion. Devon Energy had a return on equity of 22.52% and a net margin of 18.14%. On average, equities analysts anticipate that Devon Energy Co. will post 4.85 earnings per share for the current fiscal year.

Devon Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were given a $0.24 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.96 annualized dividend and a dividend yield of 3.15%. This is a positive change from Devon Energy's previous quarterly dividend of $0.22. Devon Energy's dividend payout ratio is currently 21.05%.

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.