Voya Investment Management LLC Sells 1,072,517 Shares of Devon Energy Co. (NYSE:DVN)

Voya Investment Management LLC decreased its stake in shares of Devon Energy Co. (NYSE:DVN - Free Report) by 30.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 2,473,529 shares of the energy company's stock after selling 1,072,517 shares during the quarter. Voya Investment Management LLC owned 0.38% of Devon Energy worth $80,959,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Morse Asset Management Inc bought a new stake in shares of Devon Energy during the third quarter worth approximately $126,000. Virtu Financial LLC bought a new stake in shares of Devon Energy during the third quarter worth $7,468,000. Pine Valley Investments Ltd Liability Co bought a new stake in shares of Devon Energy in the third quarter valued at about $209,000. World Investment Advisors LLC lifted its holdings in shares of Devon Energy by 3,440.3% in the third quarter. World Investment Advisors LLC now owns 149,437 shares of the energy company's stock valued at $5,846,000 after purchasing an additional 145,216 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of Devon Energy in the third quarter valued at about $1,576,000. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently commented on DVN shares. Raymond James set a $40.00 price target on Devon Energy in a research report on Monday, April 21st. JPMorgan Chase & Co. reduced their target price on Devon Energy from $48.00 to $42.00 and set a "neutral" rating on the stock in a report on Thursday, March 13th. StockNews.com upgraded Devon Energy from a "sell" rating to a "hold" rating in a report on Friday, January 3rd. Susquehanna cut their price objective on Devon Energy from $52.00 to $41.00 and set a "positive" rating on the stock in a research note on Tuesday, April 22nd. Finally, Mizuho cut their price objective on Devon Energy from $49.00 to $46.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. Ten equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, Devon Energy presently has a consensus rating of "Moderate Buy" and a consensus target price of $44.83.

Devon Energy Stock Down 0.9 %

Shares of DVN traded down $0.28 during mid-day trading on Tuesday, reaching $31.28. The company had a trading volume of 1,753,113 shares, compared to its average volume of 8,484,156. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.01 and a current ratio of 1.04. The firm has a 50-day moving average price of $33.44 and a 200 day moving average price of $35.28. Devon Energy Co. has a 52 week low of $25.89 and a 52 week high of $53.20. The company has a market capitalization of $20.12 billion, a price-to-earnings ratio of 6.86, a price-to-earnings-growth ratio of 1.20 and a beta of 1.50.

Devon Energy (NYSE:DVN - Get Free Report) last issued its quarterly earnings results on Tuesday, February 18th. The energy company reported $1.16 EPS for the quarter, topping analysts' consensus estimates of $1.00 by $0.16. The firm 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 forecast that Devon Energy Co. will post 4.85 EPS 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 paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 3.07%. This is a positive change from Devon Energy's previous quarterly dividend of $0.22. The ex-dividend date was Friday, March 14th. Devon Energy's dividend payout ratio is 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.