SIR Capital Management L.P. Takes $8.87 Million Position in Devon Energy Co. (NYSE:DVN)

SIR Capital Management L.P. purchased a new stake in Devon Energy Co. (NYSE:DVN - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 271,000 shares of the energy company's stock, valued at approximately $8,870,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in DVN. Klein Pavlis & Peasley Financial Inc. acquired a new stake in shares of Devon Energy in the fourth quarter valued at about $782,000. Resona Asset Management Co. Ltd. acquired a new stake in Devon Energy in the 4th quarter worth about $5,967,000. New York State Teachers Retirement System increased its stake in Devon Energy by 4.5% during the 4th quarter. New York State Teachers Retirement System now owns 736,351 shares of the energy company's stock worth $24,101,000 after buying an additional 31,520 shares in the last quarter. First Dallas Securities Inc. raised its holdings in shares of Devon Energy by 31.9% during the fourth quarter. First Dallas Securities Inc. now owns 52,715 shares of the energy company's stock valued at $1,725,000 after acquiring an additional 12,760 shares during the last quarter. Finally, Aviva PLC lifted its position in shares of Devon Energy by 767.3% in the fourth quarter. Aviva PLC now owns 376,999 shares of the energy company's stock valued at $12,339,000 after acquiring an additional 333,530 shares in the last quarter. Hedge funds and other institutional investors own 69.72% of the company's stock.

Devon Energy Trading Down 1.7%

NYSE DVN opened at $33.39 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 1.01. The stock has a market capitalization of $21.44 billion, a P/E ratio of 7.32, a PEG ratio of 1.20 and a beta of 1.00. The firm's 50-day moving average is $32.52 and its two-hundred day moving average is $34.60. Devon Energy Co. has a 12 month low of $25.89 and a 12 month high of $50.24.

Devon Energy (NYSE:DVN - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The energy company reported $1.21 earnings per share 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 analyst estimates of $4.31 billion. During the same quarter in the prior year, the business earned $1.16 earnings per share. Devon Energy's revenue was up 23.8% on a year-over-year basis. On average, sell-side analysts anticipate that Devon Energy Co. will post 4.85 earnings per share for the current year.

Devon Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date of this dividend is Friday, June 13th. Devon Energy's payout ratio is 21.87%.

Analyst Ratings Changes

Several brokerages recently commented on DVN. Citigroup dropped their price target on Devon Energy from $46.00 to $43.00 and set a "buy" rating for the company in a research report on Friday, April 4th. Cowen cut shares of Devon Energy to a "hold" rating and reduced their target price for the company from $46.00 to $45.00 in a research report on Tuesday, February 18th. Williams Trading set a $50.00 price target on shares of Devon Energy in a research note on Wednesday, March 5th. Benchmark reaffirmed a "buy" rating and set a $44.00 price objective on shares of Devon Energy in a research note on Thursday, February 20th. Finally, Royal Bank of Canada cut their price objective on shares of Devon Energy from $49.00 to $40.00 and set a "sector perform" rating for the company in a report on Monday, April 14th. Ten research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $43.83.

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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