Price T Rowe Associates Inc. MD Has $38.11 Million Stake in Devon Energy Co. (NYSE:DVN)

Price T Rowe Associates Inc. MD decreased its stake in shares of Devon Energy Co. (NYSE:DVN - Free Report) by 38.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 1,164,354 shares of the energy company's stock after selling 728,801 shares during the quarter. Price T Rowe Associates Inc. MD owned 0.18% of Devon Energy worth $38,110,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in DVN. Morse Asset Management Inc acquired a new stake in shares of Devon Energy during the 3rd quarter worth approximately $126,000. Virtu Financial LLC bought a new position in Devon Energy in the third quarter worth $7,468,000. Pine Valley Investments Ltd Liability Co acquired a new stake in Devon Energy during the third quarter worth $209,000. World Investment Advisors LLC increased its holdings in Devon Energy by 3,440.3% in the 3rd quarter. World Investment Advisors LLC now owns 149,437 shares of the energy company's stock valued at $5,846,000 after buying an additional 145,216 shares during the period. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of Devon Energy in the 3rd quarter valued at $1,576,000. Institutional investors and hedge funds own 69.72% of the company's stock.

Analysts Set New Price Targets

DVN has been the topic of a number of analyst reports. Royal Bank of Canada lowered their target price on shares of Devon Energy from $49.00 to $40.00 and set a "sector perform" rating on the stock in a research note on Monday, April 14th. Truist Financial upped their price objective on Devon Energy from $42.00 to $44.00 and gave the company a "hold" rating in a research note on Thursday, February 20th. Morgan Stanley set a $47.00 target price on Devon Energy and gave the stock an "overweight" rating in a research report on Wednesday, March 26th. Benchmark reiterated a "buy" rating and issued a $44.00 price target on shares of Devon Energy in a research report on Thursday, February 20th. Finally, UBS Group cut their price objective on Devon Energy from $41.00 to $35.00 and set a "neutral" rating for the company in a report on Monday, April 7th. Ten investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $43.87.

Devon Energy Trading Up 1.0 %

NYSE:DVN traded up $0.30 during trading hours on Friday, hitting $31.46. 6,600,769 shares of the stock were exchanged, compared to its average volume of 8,481,736. The company has a market capitalization of $20.24 billion, a P/E ratio of 6.90, a price-to-earnings-growth ratio of 1.20 and a beta of 1.00. The company has a quick ratio of 1.01, a current ratio of 1.04 and a debt-to-equity ratio of 0.57. The company's 50 day moving average is $32.94 and its two-hundred day moving average is $35.03. Devon Energy Co. has a twelve month low of $25.89 and a twelve month high of $51.46.

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

Devon Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.05%. 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. Devon Energy's 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.