Devon Energy Co. (NYSE:DVN) Shares Purchased by EP Wealth Advisors LLC

EP Wealth Advisors LLC increased its stake in shares of Devon Energy Co. (NYSE:DVN) by 6.9% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 8,205 shares of the energy company’s stock after acquiring an additional 527 shares during the period. EP Wealth Advisors LLC’s holdings in Devon Energy were worth $372,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of DVN. Pacer Advisors Inc. lifted its position in Devon Energy by 1,279.7% during the 4th quarter. Pacer Advisors Inc. now owns 6,145,605 shares of the energy company’s stock worth $278,396,000 after acquiring an additional 5,700,167 shares in the last quarter. Morgan Stanley lifted its position in Devon Energy by 23.6% during the 3rd quarter. Morgan Stanley now owns 11,647,104 shares of the energy company’s stock worth $555,567,000 after acquiring an additional 2,220,194 shares in the last quarter. International Assets Investment Management LLC lifted its position in Devon Energy by 3,885.4% during the 4th quarter. International Assets Investment Management LLC now owns 1,695,206 shares of the energy company’s stock worth $76,793,000 after acquiring an additional 1,652,671 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Devon Energy by 26.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 7,077,042 shares of the energy company’s stock worth $320,609,000 after acquiring an additional 1,488,374 shares in the last quarter. Finally, Schroder Investment Management Group raised its position in shares of Devon Energy by 61.0% in the 3rd quarter. Schroder Investment Management Group now owns 2,673,781 shares of the energy company’s stock valued at $127,539,000 after purchasing an additional 1,013,353 shares in the last quarter. 69.72% of the stock is owned by institutional investors and hedge funds.

Devon Energy Price Performance

Shares of DVN opened at $45.65 on Thursday. Devon Energy Co. has a 12 month low of $40.47 and a 12 month high of $55.09. The company has a market cap of $28.85 billion, a P/E ratio of 8.71, a PEG ratio of 1.21 and a beta of 2.08. The stock has a fifty day moving average price of $49.52 and a 200 day moving average price of $46.76. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.04 and a quick ratio of 0.97.

Devon Energy (NYSE:DVN) last released its quarterly earnings results on Wednesday, May 1st. The energy company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.06. Devon Energy had a return on equity of 29.02% and a net margin of 22.27%. The company had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.64 billion. During the same quarter in the prior year, the business posted $1.46 earnings per share. The company’s revenue for the quarter was down 5.9% compared to the same quarter last year. On average, research analysts forecast that Devon Energy Co. will post 5.24 earnings per share for the current year.

Devon Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.88 annualized dividend and a dividend yield of 1.93%. Devon Energy’s payout ratio is 16.79%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on DVN. Stifel Nicolaus upped their target price on Devon Energy from $65.00 to $66.00 and gave the company a “buy” rating in a research report on Tuesday, April 23rd. UBS Group upped their target price on Devon Energy from $48.00 to $57.00 and gave the company a “neutral” rating in a research report on Wednesday, April 10th. Barclays began coverage on Devon Energy in a research report on Wednesday, April 10th. They issued an “equal weight” rating and a $59.00 target price on the stock. Susquehanna upped their target price on Devon Energy from $52.00 to $65.00 and gave the company a “positive” rating in a research report on Monday, April 22nd. Finally, Bank of America reaffirmed a “buy” rating and issued a $64.00 target price on shares of Devon Energy in a research report on Friday, June 14th. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $59.24.

Insider Transactions at Devon Energy

In other news, EVP Tana K. Cashion sold 20,000 shares of the stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $51.04, for a total value of $1,020,800.00. Following the completion of the transaction, the executive vice president now owns 104,182 shares of the company’s stock, valued at $5,317,449.28. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.73% of the company’s stock.

About Devon Energy

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.