Xponance Inc. Purchases 21,410 Shares of Devon Energy Co. (NYSE:DVN)

Xponance Inc. grew its holdings in shares of Devon Energy Co. (NYSE:DVN - Free Report) by 20.9% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 123,997 shares of the energy company's stock after acquiring an additional 21,410 shares during the quarter. Xponance Inc.'s holdings in Devon Energy were worth $5,617,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Pacer Advisors Inc. raised its stake in shares of Devon Energy by 1,279.7% in the 4th quarter. Pacer Advisors Inc. now owns 6,145,605 shares of the energy company's stock worth $278,396,000 after buying an additional 5,700,167 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its position in shares of Devon Energy by 96.4% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 5,608,577 shares of the energy company's stock worth $344,984,000 after purchasing an additional 2,752,752 shares during the period. J.P. Morgan Private Wealth Advisors LLC acquired a new stake in shares of Devon Energy during the third quarter worth $113,793,000. Morgan Stanley raised its position in shares of Devon Energy by 23.6% during the third quarter. Morgan Stanley now owns 11,647,104 shares of the energy company's stock worth $555,567,000 after purchasing an additional 2,220,194 shares during the period. Finally, International Assets Investment Management LLC raised its position in shares of Devon Energy by 3,885.4% during the fourth quarter. International Assets Investment Management LLC now owns 1,695,206 shares of the energy company's stock worth $76,793,000 after purchasing an additional 1,652,671 shares during the period. Institutional investors and hedge funds own 69.72% of the company's stock.

Devon Energy Stock Performance

Shares of NYSE DVN traded up $0.40 during trading hours on Friday, hitting $51.83. 5,075,407 shares of the company's stock were exchanged, compared to its average volume of 6,873,394. Devon Energy Co. has a 1-year low of $40.47 and a 1-year high of $55.09. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.07 and a quick ratio of 0.99. The stock has a market capitalization of $32.91 billion, a price-to-earnings ratio of 8.89 and a beta of 2.19. The company's 50-day moving average price is $47.89 and its 200-day moving average price is $45.90.

Devon Energy (NYSE:DVN - Get Free Report) last posted its quarterly earnings results on Tuesday, February 27th. The energy company reported $1.41 EPS for the quarter, beating the consensus estimate of $1.39 by $0.02. The firm had revenue of $4.15 billion during the quarter, compared to analysts' expectations of $3.88 billion. Devon Energy had a return on equity of 31.72% and a net margin of 24.56%. The company's revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.66 EPS. On average, sell-side analysts expect that Devon Energy Co. will post 5.14 earnings per share for the current fiscal year.

Devon Energy Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were issued a $0.44 dividend. The ex-dividend date was Thursday, March 14th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.40%. Devon Energy's payout ratio is presently 15.09%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Stifel Nicolaus dropped their price target on Devon Energy from $75.00 to $65.00 and set a "buy" rating on the stock in a research report on Friday, March 22nd. JPMorgan Chase & Co. boosted their target price on Devon Energy from $57.00 to $62.00 and gave the company an "overweight" rating in a research note on Monday, April 8th. Scotiabank boosted their target price on Devon Energy from $53.00 to $67.00 and gave the company a "sector outperform" rating in a research note on Thursday, April 11th. UBS Group boosted their target price on Devon Energy from $48.00 to $57.00 and gave the company a "neutral" rating in a research note on Wednesday, April 10th. Finally, Barclays assumed coverage on Devon Energy in a research note on Wednesday, April 10th. They set an "equal weight" rating and a $59.00 price target for the company. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Devon Energy has an average rating of "Moderate Buy" and an average price target of $57.94.

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.