Hussman Strategic Advisors Inc. Purchases New Shares in Devon Energy Co. (NYSE:DVN)

Hussman Strategic Advisors Inc. purchased a new stake in shares of Devon Energy Co. (NYSE:DVN) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 21,000 shares of the energy company’s stock, valued at approximately $687,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Ieq Capital LLC increased its holdings in Devon Energy by 88.4% during the 4th quarter. Ieq Capital LLC now owns 82,659 shares of the energy company’s stock valued at $2,705,000 after purchasing an additional 38,790 shares in the last quarter. Callahan Advisors LLC bought a new position in Devon Energy in the 4th quarter valued at $207,000. Mraz Amerine & Associates Inc. boosted its position in Devon Energy by 20.0% in the 4th quarter. Mraz Amerine & Associates Inc. now owns 37,195 shares of the energy company’s stock valued at $1,217,000 after buying an additional 6,206 shares during the last quarter. Venturi Wealth Management LLC boosted its position in Devon Energy by 34.8% in the 4th quarter. Venturi Wealth Management LLC now owns 4,198 shares of the energy company’s stock valued at $137,000 after buying an additional 1,084 shares during the last quarter. Finally, CIBC Asset Management Inc boosted its position in Devon Energy by 5.7% in the 4th quarter. CIBC Asset Management Inc now owns 113,245 shares of the energy company’s stock valued at $3,707,000 after buying an additional 6,063 shares during the last quarter. 69.72% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have commented on DVN. StockNews.com upgraded Devon Energy from a “sell” rating to a “hold” rating in a research report on Friday, January 3rd. JPMorgan Chase & Co. lowered Devon Energy from an “overweight” rating to a “neutral” rating and set a $43.00 price objective on the stock. in a research report on Thursday, December 5th. Wolfe Research upgraded Devon Energy from a “peer perform” rating to an “outperform” rating and set a $45.00 price objective on the stock in a research report on Friday, January 3rd. Sanford C. Bernstein upgraded Devon Energy from a “market perform” rating to an “outperform” rating and set a $45.00 price objective on the stock in a research report on Wednesday, January 15th. Finally, Cowen lowered Devon Energy to a “hold” rating and decreased their price objective for the company from $46.00 to $45.00 in a research report on Tuesday. Ten equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $48.83.

Devon Energy Stock Performance

Shares of Devon Energy stock opened at $38.60 on Friday. The company has a market capitalization of $25.35 billion, a PE ratio of 8.46, a PEG ratio of 1.09 and a beta of 1.98. Devon Energy Co. has a 12 month low of $30.39 and a 12 month high of $55.09. The company has a current ratio of 1.11, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. The stock’s fifty day simple moving average is $34.40 and its 200 day simple moving average is $38.40.

Devon Energy (NYSE:DVN) last issued its quarterly earnings data on Tuesday, February 18th. The energy company reported $1.16 EPS for the quarter, topping the consensus estimate of $1.00 by $0.16. Devon Energy had a return on equity of 23.17% and a net margin of 18.14%. The business had revenue of $4.40 billion for the quarter, compared to the consensus estimate of $4.25 billion. On average, research analysts predict that Devon Energy Co. will post 4.85 EPS for the current year.

Devon Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a $0.24 dividend. This is an increase from Devon Energy’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.96 annualized dividend and a dividend yield of 2.49%. Devon Energy’s dividend payout ratio (DPR) is currently 19.30%.

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.