Devon Energy Co. (NYSE:DVN) Shares Acquired by Rehmann Capital Advisory Group

Rehmann Capital Advisory Group grew its position in shares of Devon Energy Co. (NYSE:DVN - Free Report) by 105.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,620 shares of the energy company's stock after acquiring an additional 9,024 shares during the period. Rehmann Capital Advisory Group's holdings in Devon Energy were worth $577,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of DVN. Hurley Capital LLC purchased a new stake in shares of Devon Energy in the 4th quarter worth about $26,000. Cromwell Holdings LLC increased its position in Devon Energy by 98.0% during the 4th quarter. Cromwell Holdings LLC now owns 1,208 shares of the energy company's stock valued at $40,000 after buying an additional 598 shares in the last quarter. Sierra Ocean LLC purchased a new position in Devon Energy during the fourth quarter valued at $43,000. Endeavor Private Wealth Inc. bought a new stake in Devon Energy in the fourth quarter worth $52,000. Finally, Thompson Investment Management Inc. grew its stake in shares of Devon Energy by 60.0% in the fourth quarter. Thompson Investment Management Inc. now owns 1,600 shares of the energy company's stock worth $52,000 after acquiring an additional 600 shares during the last quarter. 69.72% of the stock is owned by institutional investors.

Devon Energy Price Performance

NYSE DVN traded up $0.08 on Tuesday, hitting $30.70. The company had a trading volume of 6,741,874 shares, compared to its average volume of 8,485,276. The company has a market capitalization of $19.75 billion, a PE ratio of 6.72, a PEG ratio of 1.20 and a beta of 1.00. Devon Energy Co. has a 12-month low of $25.89 and a 12-month high of $51.46. The company's fifty day moving average price is $32.85 and its 200-day moving average price is $34.92. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 1.01.

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

Devon Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, March 14th. This is an increase from Devon Energy's previous quarterly dividend of $0.22. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.13%. Devon Energy's payout ratio is currently 21.05%.

Analysts Set New Price Targets

Several analysts recently commented on the stock. JPMorgan Chase & Co. cut their price objective on shares of Devon Energy from $48.00 to $42.00 and set a "neutral" rating on the stock in a research report on Thursday, March 13th. Morgan Stanley set a $47.00 price target on shares of Devon Energy and gave the company an "overweight" rating in a report on Wednesday, March 26th. Benchmark restated a "buy" rating and issued a $44.00 price objective on shares of Devon Energy in a report on Thursday, February 20th. Susquehanna reduced their target price on Devon Energy from $52.00 to $41.00 and set a "positive" rating for the company in a report on Tuesday, April 22nd. Finally, Barclays lowered their price target on Devon Energy from $44.00 to $38.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 23rd. Ten research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $43.87.

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.