Meiji Yasuda Asset Management Co Ltd. Boosts Position in Devon Energy Co. (NYSE:DVN)

Meiji Yasuda Asset Management Co Ltd. raised its holdings in shares of Devon Energy Co. (NYSE:DVN) by 12.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,567 shares of the energy company’s stock after buying an additional 1,172 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Devon Energy were worth $501,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of DVN. Vanguard Group Inc. boosted its position in Devon Energy by 3.5% during the 1st quarter. Vanguard Group Inc. now owns 76,457,056 shares of the energy company’s stock worth $3,836,615,000 after purchasing an additional 2,559,039 shares during the period. Raymond James & Associates boosted its position in shares of Devon Energy by 1.5% in the second quarter. Raymond James & Associates now owns 9,183,778 shares of the energy company’s stock worth $435,311,000 after buying an additional 138,919 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Devon Energy by 16.7% in the second quarter. Dimensional Fund Advisors LP now owns 8,793,217 shares of the energy company’s stock worth $416,779,000 after buying an additional 1,255,543 shares during the period. Raymond James Financial Services Advisors Inc. grew its stake in shares of Devon Energy by 3.8% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 4,699,410 shares of the energy company’s stock valued at $222,752,000 after buying an additional 169,923 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Devon Energy by 0.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 4,680,448 shares of the energy company’s stock valued at $221,853,000 after buying an additional 18,443 shares during the period. 69.72% of the stock is currently owned by hedge funds and other institutional investors.

Devon Energy Trading Down 0.5 %

Shares of NYSE:DVN opened at $40.78 on Friday. Devon Energy Co. has a 1 year low of $39.02 and a 1 year high of $55.09. The firm has a fifty day moving average price of $44.17 and a 200 day moving average price of $47.30. The company has a current ratio of 1.11, a quick ratio of 1.03 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $25.77 billion, a PE ratio of 7.74, a P/E/G ratio of 1.13 and a beta of 2.03.

Devon Energy (NYSE:DVN) last issued its quarterly earnings data on Tuesday, August 6th. The energy company reported $1.41 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.15. Devon Energy had a return on equity of 29.14% and a net margin of 22.60%. The business had revenue of $3.92 billion for the quarter, compared to analyst estimates of $3.90 billion. During the same quarter in the prior year, the firm posted $1.18 EPS. The firm’s revenue for the quarter was up 13.4% on a year-over-year basis. Analysts expect that Devon Energy Co. will post 5.36 EPS for the current fiscal year.

Devon Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date is Friday, September 13th. Devon Energy’s dividend payout ratio is 16.79%.

Analyst Ratings Changes

DVN has been the subject of a number of analyst reports. BMO Capital Markets raised Devon Energy to a “strong-buy” rating in a report on Wednesday, July 3rd. Susquehanna decreased their price target on shares of Devon Energy from $65.00 to $63.00 and set a “positive” rating for the company in a research report on Wednesday, September 4th. Bank of America reaffirmed a “buy” rating and issued a $64.00 price target on shares of Devon Energy in a report on Friday, June 14th. UBS Group decreased their price objective on shares of Devon Energy from $53.00 to $47.00 and set a “neutral” rating for the company in a report on Wednesday. Finally, Morgan Stanley reduced their price target on shares of Devon Energy from $55.00 to $51.00 and set an “overweight” rating on the stock in a research report on Monday, September 16th. Six equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $57.00.

Devon Energy 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.