2,412 Shares in Devon Energy Co. (NYSE:DVN) Bought by Mather Group LLC.

Mather Group LLC. bought a new stake in Devon Energy Co. (NYSE:DVN) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,412 shares of the energy company’s stock, valued at approximately $121,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Pacer Advisors Inc. lifted its position in Devon Energy by 1,279.7% in the 4th quarter. Pacer Advisors Inc. now owns 6,145,605 shares of the energy company’s stock worth $278,396,000 after buying an additional 5,700,167 shares during the last quarter. Morgan Stanley boosted its stake in shares of Devon Energy by 23.6% in the 3rd quarter. Morgan Stanley now owns 11,647,104 shares of the energy company’s stock valued at $555,567,000 after purchasing an additional 2,220,194 shares in the last quarter. International Assets Investment Management LLC boosted its stake in shares of Devon Energy by 3,885.4% in the 4th quarter. International Assets Investment Management LLC now owns 1,695,206 shares of the energy company’s stock valued at $76,793,000 after purchasing an additional 1,652,671 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of 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 valued at $320,609,000 after purchasing an additional 1,488,374 shares during the last quarter. Finally, Schroder Investment Management Group raised its position in 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 worth $127,539,000 after purchasing an additional 1,013,353 shares during the period. Institutional investors own 69.72% of the company’s stock.

Insider Buying and Selling at Devon Energy

In other news, EVP Tana K. Cashion sold 20,000 shares of the firm’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $51.04, for a total transaction of $1,020,800.00. Following the completion of the transaction, the executive vice president now directly owns 104,182 shares in the company, valued at $5,317,449.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.73% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have recently commented on DVN. UBS Group lifted their price objective on Devon Energy from $48.00 to $57.00 and gave the stock a “neutral” rating in a report on Wednesday, April 10th. JPMorgan Chase & Co. boosted their price objective on Devon Energy from $57.00 to $62.00 and gave the company an “overweight” rating in a research report on Monday, April 8th. Citigroup raised their target price on shares of Devon Energy from $55.00 to $62.00 and gave the stock a “buy” rating in a report on Thursday, April 11th. Mizuho upped their price target on shares of Devon Energy from $57.00 to $61.00 and gave the company a “buy” rating in a report on Monday, May 13th. Finally, Wells Fargo & Company upgraded shares of Devon Energy from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $46.00 to $59.00 in a research report on Monday, April 1st. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Devon Energy currently has an average rating of “Moderate Buy” and a consensus target price of $59.24.

Devon Energy Stock Performance

Shares of DVN stock opened at $45.82 on Friday. The company’s fifty day moving average price is $49.21 and its 200-day moving average price is $46.77. The stock has a market cap of $28.96 billion, a PE ratio of 8.74, a price-to-earnings-growth ratio of 1.21 and a beta of 2.08. The company has a current ratio of 1.04, a quick ratio of 0.97 and a debt-to-equity ratio of 0.46. Devon Energy Co. has a 12 month low of $40.47 and a 12 month high of $55.09.

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

Devon Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date is Friday, June 14th. Devon Energy’s dividend payout ratio (DPR) is presently 16.79%.

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.