Mercer Global Advisors Inc. ADV Reduces Stock Position in Devon Energy Co. (NYSE:DVN)

Mercer Global Advisors Inc. ADV cut its position in shares of Devon Energy Co. (NYSE:DVN - Free Report) by 10.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 89,873 shares of the energy company's stock after selling 10,593 shares during the period. Mercer Global Advisors Inc. ADV's holdings in Devon Energy were worth $2,942,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. increased its position in Devon Energy by 7.3% during the fourth quarter. Vanguard Group Inc. now owns 80,682,170 shares of the energy company's stock worth $2,640,727,000 after acquiring an additional 5,465,692 shares during the period. Geode Capital Management LLC raised its holdings in shares of Devon Energy by 6.5% during the 4th quarter. Geode Capital Management LLC now owns 16,931,275 shares of the energy company's stock worth $552,830,000 after buying an additional 1,038,305 shares in the last quarter. Fuller & Thaler Asset Management Inc. raised its stake in 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 worth $340,236,000 after acquiring an additional 3,114,656 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Devon Energy by 2.3% in the fourth quarter. Victory Capital Management Inc. now owns 10,203,812 shares of the energy company's stock worth $333,971,000 after acquiring an additional 232,469 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in shares of Devon Energy by 32.8% during the 4th 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 last quarter. 69.72% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Barclays upped their price target on shares of Devon Energy from $38.00 to $40.00 and gave the stock an "equal weight" rating in a report on Wednesday. Scotiabank cut their price target on Devon Energy from $45.00 to $35.00 and set a "sector outperform" rating on the stock in a research note on Friday, April 11th. Williams Trading set a $50.00 price objective on shares of Devon Energy in a report on Wednesday, March 5th. Susquehanna reduced their target price on shares of Devon Energy from $52.00 to $41.00 and set a "positive" rating on the stock in a report on Tuesday, April 22nd. Finally, Mizuho decreased their price objective on Devon Energy from $49.00 to $46.00 and set an "outperform" rating for the company in a report on Wednesday, April 9th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $43.96.

Devon Energy Stock Performance

Shares of NYSE DVN traded up $0.67 during mid-day trading on Friday, reaching $32.60. 6,838,502 shares of the company's stock were exchanged, compared to its average volume of 8,581,571. The firm has a market capitalization of $20.97 billion, a price-to-earnings ratio of 7.15, a price-to-earnings-growth ratio of 1.20 and a beta of 1.00. The firm has a 50-day moving average price of $32.55 and a two-hundred day moving average price of $34.72. 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 $50.44.

Devon Energy (NYSE:DVN - Get Free Report) last released its earnings results 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). Devon Energy had a net margin of 18.14% and a return on equity of 22.52%. The company had revenue of $4.45 billion for the quarter, compared to the consensus estimate of $4.31 billion. During the same period in the prior year, the company earned $1.16 earnings per share. The firm's revenue was up 23.8% on a year-over-year basis. Analysts predict that Devon Energy Co. will post 4.85 EPS for the current year.

Devon Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be paid a dividend of $0.24 per share. The ex-dividend date is Friday, June 13th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.94%. Devon Energy's payout ratio is 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.