Fisher Asset Management LLC Has $6.07 Million Stock Holdings in Devon Energy Co. (NYSE:DVN)

Fisher Asset Management LLC reduced its position in Devon Energy Co. (NYSE:DVN - Free Report) by 15.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 134,076 shares of the energy company's stock after selling 23,774 shares during the period. Fisher Asset Management LLC's holdings in Devon Energy were worth $6,074,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in DVN. Brown Advisory Inc. grew its holdings in shares of Devon Energy by 77.2% during the third quarter. Brown Advisory Inc. now owns 8,316 shares of the energy company's stock worth $397,000 after buying an additional 3,622 shares in the last quarter. Lindbrook Capital LLC raised its holdings in Devon Energy by 32.5% in the 3rd quarter. Lindbrook Capital LLC now owns 1,916 shares of the energy company's stock valued at $91,000 after acquiring an additional 470 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Devon Energy by 20.3% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 133,594 shares of the energy company's stock worth $6,372,000 after purchasing an additional 22,517 shares during the period. Mackenzie Financial Corp boosted its holdings in shares of Devon Energy by 21.8% during the third quarter. Mackenzie Financial Corp now owns 212,577 shares of the energy company's stock worth $9,725,000 after purchasing an additional 37,978 shares during the last quarter. Finally, Brighton Jones LLC grew its position in shares of Devon Energy by 15.1% in the third quarter. Brighton Jones LLC now owns 7,271 shares of the energy company's stock valued at $347,000 after purchasing an additional 956 shares during the period. Hedge funds and other institutional investors own 69.72% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Scotiabank increased their target price on Devon Energy from $53.00 to $67.00 and gave the stock a "sector outperform" rating in a research report on Thursday, April 11th. Stifel Nicolaus raised their target price on shares of Devon Energy from $65.00 to $66.00 and gave the stock a "buy" rating in a research report on Tuesday, April 23rd. Raymond James dropped their price target on shares of Devon Energy from $53.00 to $52.00 and set an "outperform" rating for the company in a research report on Wednesday, January 24th. UBS Group increased their price target on shares of Devon Energy from $48.00 to $57.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 10th. Finally, Wells Fargo & Company raised shares of Devon Energy from an "equal weight" rating to an "overweight" rating and boosted their price objective for the company from $46.00 to $59.00 in a research note on Monday, April 1st. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to data from MarketBeat, Devon Energy presently has an average rating of "Moderate Buy" and a consensus target price of $58.44.

Devon Energy Stock Up 0.2 %

Shares of NYSE:DVN traded up $0.12 during mid-day trading on Tuesday, hitting $50.98. 5,086,130 shares of the company traded hands, compared to its average volume of 7,846,042. The firm has a market cap of $32.22 billion, a P/E ratio of 9.73 and a beta of 2.16. Devon Energy Co. has a 52-week low of $40.47 and a 52-week high of $55.09. The firm's 50 day simple moving average is $49.76 and its 200 day simple moving average is $46.27. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.97 and a current ratio of 1.04.

Devon Energy (NYSE:DVN - Get Free Report) last posted its quarterly earnings data on Wednesday, May 1st. The energy company reported $1.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.10 by $0.06. The company had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.64 billion. Devon Energy had a net margin of 22.27% and a return on equity of 29.02%. The business's quarterly revenue was down 5.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.46 earnings per share. On average, equities analysts anticipate that Devon Energy Co. will post 5.24 EPS for the current year.

Devon Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be given a $0.22 dividend. The ex-dividend date is Friday, June 14th. This represents a $0.88 dividend on an annualized basis and a yield of 1.73%. Devon Energy's payout ratio is currently 16.79%.

Insider Activity

In related news, EVP Tana K. Cashion sold 20,000 shares of the business's stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $51.04, for a total value of $1,020,800.00. Following the transaction, the executive vice president now owns 104,182 shares in the company, valued at $5,317,449.28. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.63% of the company's stock.

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.