Devon Energy Co. (NYSE:DVN) Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky trimmed its position in shares of Devon Energy Co. (NYSE:DVN - Free Report) by 85.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 46,368 shares of the energy company's stock after selling 271,070 shares during the period. Teachers Retirement System of The State of Kentucky's holdings in Devon Energy were worth $1,517,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Hurley Capital LLC bought a new stake in shares of Devon Energy in the fourth quarter valued at about $26,000. Cromwell Holdings LLC raised its position in shares of Devon Energy by 98.0% in the 4th quarter. Cromwell Holdings LLC now owns 1,208 shares of the energy company's stock valued at $40,000 after purchasing an additional 598 shares during the last quarter. Sierra Ocean LLC acquired a new stake in shares of Devon Energy during the fourth quarter worth $43,000. Endeavor Private Wealth Inc. acquired a new stake in Devon Energy during the 4th quarter worth about $52,000. Finally, Thompson Investment Management Inc. lifted its holdings in shares of Devon Energy by 60.0% during the fourth quarter. Thompson Investment Management Inc. now owns 1,600 shares of the energy company's stock worth $52,000 after purchasing an additional 600 shares during the period. 69.72% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

DVN has been the subject of a number of research reports. Barclays decreased their target price on shares of Devon Energy from $44.00 to $38.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 23rd. Sanford C. Bernstein raised shares of Devon Energy from a "market perform" rating to an "outperform" rating and set a $45.00 price target for the company in a report on Wednesday, January 15th. JPMorgan Chase & Co. reduced their target price on Devon Energy from $48.00 to $42.00 and set a "neutral" rating for the company in a report on Thursday, March 13th. Bank of America decreased their price target on shares of Devon Energy from $52.00 to $42.00 and set a "buy" rating on the stock in a research note on Tuesday. Finally, Morgan Stanley set a $47.00 price objective on Devon Energy and gave the stock an "overweight" rating in a research report on Wednesday, March 26th. Ten research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, Devon Energy presently has an average rating of "Moderate Buy" and an average target price of $43.87.

Devon Energy Stock Down 2.8 %

Shares of Devon Energy stock traded down $0.87 during trading hours on Wednesday, reaching $30.43. 7,571,478 shares of the company were exchanged, compared to its average volume of 8,507,501. The firm has a market cap of $19.58 billion, a PE ratio of 6.67, a PEG ratio of 1.20 and a beta of 1.50. The stock's fifty day moving average is $33.29 and its 200 day moving average is $35.25. Devon Energy Co. has a 1 year low of $25.89 and a 1 year high of $52.86. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.01 and a current ratio of 1.04.

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

Devon Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were issued a $0.24 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.15%. This is an increase from Devon Energy's previous quarterly dividend of $0.22. Devon Energy's dividend payout ratio is presently 21.05%.

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.