Northern Trust Corp Boosts Stock Holdings in Devon Energy Co. (NYSE:DVN)

Northern Trust Corp raised its position in shares of Devon Energy Co. (NYSE:DVN - Free Report) by 2.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,260,735 shares of the energy company's stock after purchasing an additional 144,789 shares during the period. Northern Trust Corp owned 0.95% of Devon Energy worth $204,914,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the company. Vanguard Group Inc. increased its holdings in Devon Energy by 7.3% in the 4th 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 last quarter. Raymond James Financial Inc. bought a new position in Devon Energy during the fourth quarter worth about $154,170,000. Fuller & Thaler Asset Management Inc. increased its stake 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 worth $340,236,000 after purchasing an additional 3,114,656 shares in the last quarter. Marshall Wace LLP raised 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 purchasing an additional 3,090,585 shares during the period. Finally, Invesco Ltd. lifted its stake 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 buying an additional 2,335,473 shares in the last quarter. 69.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on DVN shares. Susquehanna lowered 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. Wells Fargo & Company decreased their price objective on Devon Energy from $46.00 to $44.00 and set an "overweight" rating on the stock in a research note on Monday, April 14th. Piper Sandler cut their target price on Devon Energy from $55.00 to $54.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. Barclays decreased their price target on Devon Energy from $44.00 to $38.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 23rd. Finally, Cowen lowered shares of Devon Energy to a "hold" rating and cut their price objective for the company from $46.00 to $45.00 in a research report on Tuesday, February 18th. Ten analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, Devon Energy has a consensus rating of "Moderate Buy" and a consensus price target of $43.87.

Devon Energy Trading Up 2.5 %

NYSE:DVN opened at $31.16 on Friday. Devon Energy Co. has a 12 month low of $25.89 and a 12 month high of $52.25. 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 company has a 50-day moving average price of $33.03 and a 200-day moving average price of $35.14. The stock has a market cap of $20.05 billion, a price-to-earnings ratio of 6.83, a P/E/G ratio of 1.20 and a beta of 1.50.

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

Devon Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were issued a $0.24 dividend. This is an increase from Devon Energy's previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.96 dividend on an annualized basis and a yield of 3.08%. Devon Energy's dividend payout ratio is 21.05%.

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.

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