Duality Advisers LP Boosts Stock Position in Devon Energy Co. (NYSE:DVN)

Duality Advisers LP boosted its holdings in shares of Devon Energy Co. (NYSE:DVN - Free Report) by 38.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 143,268 shares of the energy company's stock after acquiring an additional 39,453 shares during the period. Devon Energy makes up approximately 0.7% of Duality Advisers LP's investment portfolio, making the stock its 8th largest holding. Duality Advisers LP's holdings in Devon Energy were worth $6,490,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. MCF Advisors LLC lifted its holdings in shares of Devon Energy by 42.0% in the fourth quarter. MCF Advisors LLC now owns 3,808 shares of the energy company's stock valued at $172,000 after purchasing an additional 1,127 shares in the last quarter. OLD National Bancorp IN raised its holdings in Devon Energy by 65.9% during the fourth quarter. OLD National Bancorp IN now owns 7,362 shares of the energy company's stock worth $333,000 after acquiring an additional 2,925 shares in the last quarter. Signaturefd LLC raised its holdings in Devon Energy by 10.2% during the fourth quarter. Signaturefd LLC now owns 15,765 shares of the energy company's stock worth $714,000 after acquiring an additional 1,459 shares in the last quarter. Lindbrook Capital LLC raised its holdings in Devon Energy by 60.3% during the fourth quarter. Lindbrook Capital LLC now owns 3,072 shares of the energy company's stock worth $139,000 after acquiring an additional 1,156 shares in the last quarter. Finally, Grandfield & Dodd LLC raised its holdings in Devon Energy by 1.0% during the fourth quarter. Grandfield & Dodd LLC now owns 295,048 shares of the energy company's stock worth $13,366,000 after acquiring an additional 2,815 shares in the last quarter. 69.72% of the stock is currently owned by institutional investors.

Devon Energy Stock Up 0.8 %

Shares of DVN traded up $0.40 during trading hours on Friday, hitting $51.83. The stock had a trading volume of 5,075,407 shares, compared to its average volume of 6,873,394. 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 firm has a 50 day simple moving average of $47.89 and a 200-day simple moving average of $45.92. The firm has a market capitalization of $32.91 billion, a P/E ratio of 8.89 and a beta of 2.19. Devon Energy Co. has a 1-year low of $40.47 and a 1-year high of $55.09.

Devon Energy (NYSE:DVN - Get Free Report) last issued its 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. Devon Energy had a return on equity of 31.72% and a net margin of 24.56%. The company had revenue of $4.15 billion during the quarter, compared to the consensus estimate of $3.88 billion. During the same period last year, the business posted $1.66 EPS. The firm's revenue for the quarter was down 3.6% compared to the same quarter last year. Sell-side analysts predict that Devon Energy Co. will post 5.14 EPS for the current fiscal year.

Devon Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were given a $0.44 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.76 annualized dividend and a yield of 3.40%. Devon Energy's payout ratio is 15.09%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Royal Bank of Canada reiterated a "sector perform" rating and set a $55.00 target price on shares of Devon Energy in a report on Thursday, March 7th. Stifel Nicolaus decreased their target price 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. Mizuho cut their price target on Devon Energy from $54.00 to $53.00 and set a "buy" rating for the company in a research note on Thursday, January 11th. Morgan Stanley boosted their price target on Devon Energy from $49.00 to $50.00 and gave the company an "overweight" rating in a research note on Monday, April 15th. Finally, JPMorgan Chase & Co. boosted their price target on Devon Energy from $57.00 to $62.00 and gave the company an "overweight" rating in a research note on Monday, April 8th. Five research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $57.94.

Devon Energy Company 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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