Devon Energy Co. (NYSE:DVN) Stock Holdings Lifted by Rafferty Asset Management LLC

Rafferty Asset Management LLC lifted its position in shares of Devon Energy Co. (NYSE:DVN - Free Report) by 13.4% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 337,490 shares of the energy company's stock after buying an additional 39,857 shares during the period. Rafferty Asset Management LLC owned 0.05% of Devon Energy worth $11,046,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Hurley Capital LLC acquired a new position in Devon Energy during the fourth quarter worth approximately $26,000. Accredited Wealth Management LLC acquired a new position in Devon Energy during the fourth quarter worth approximately $28,000. Cromwell Holdings LLC increased its position in Devon Energy by 98.0% during the fourth quarter. Cromwell Holdings LLC now owns 1,208 shares of the energy company's stock worth $40,000 after purchasing an additional 598 shares during the last quarter. Sierra Ocean LLC acquired a new position in Devon Energy during the fourth quarter worth approximately $43,000. Finally, Endeavor Private Wealth Inc. acquired a new position in Devon Energy during the fourth quarter worth approximately $52,000. Hedge funds and other institutional investors own 69.72% of the company's stock.

Devon Energy Stock Down 1.7%

NYSE DVN traded down $0.54 during trading hours on Tuesday, reaching $32.15. 6,260,730 shares of the company traded hands, compared to its average volume of 8,605,746. Devon Energy Co. has a 12 month low of $25.89 and a 12 month high of $50.24. 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 stock has a market capitalization of $20.64 billion, a PE ratio of 7.05, a PEG ratio of 1.20 and a beta of 1.00. The company has a 50 day moving average of $32.46 and a two-hundred day moving average of $34.48.

Devon Energy (NYSE:DVN - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The energy company reported $1.21 EPS for the quarter, missing analysts' consensus estimates of $1.27 by ($0.06). Devon Energy had a net margin of 18.14% and a return on equity of 22.52%. The company had revenue of $4.45 billion for the quarter, compared to the consensus estimate of $4.31 billion. During the same quarter last year, the company earned $1.16 earnings per share. The company's revenue was up 23.8% compared to the same quarter last year. As a group, equities analysts expect that Devon Energy Co. will post 4.85 earnings per share for the current year.

Devon Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be given a $0.24 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.99%. Devon Energy's payout ratio is currently 21.87%.

Analyst Upgrades and Downgrades

DVN has been the subject of several research analyst reports. Royal Bank of Canada dropped their price target on shares of Devon Energy from $49.00 to $40.00 and set a "sector perform" rating for the company in a research report on Monday, April 14th. Susquehanna dropped their price target on shares of Devon Energy from $52.00 to $41.00 and set a "positive" rating for the company in a research report on Tuesday, April 22nd. JPMorgan Chase & Co. dropped their price objective on shares of Devon Energy from $48.00 to $42.00 and set a "neutral" rating for the company in a research report on Thursday, March 13th. StockNews.com raised shares of Devon Energy from a "sell" rating to a "hold" rating in a research note on Thursday, May 15th. Finally, UBS Group cut their target price on shares of Devon Energy from $41.00 to $35.00 and set a "neutral" rating on the stock in a research note on Monday, April 7th. Ten research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. Based on data from MarketBeat, Devon Energy has an average rating of "Moderate Buy" and an average price target of $43.83.

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.