Devon Energy Co. (NYSE:DVN) Holdings Lifted by Boothe Investment Group Inc.

Boothe Investment Group Inc. grew its position in Devon Energy Co. (NYSE:DVN) by 36.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 162,858 shares of the energy company’s stock after purchasing an additional 43,441 shares during the period. Devon Energy makes up approximately 2.3% of Boothe Investment Group Inc.’s holdings, making the stock its 19th biggest position. Boothe Investment Group Inc.’s holdings in Devon Energy were worth $5,330,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in DVN. EnCap Energy Capital Fund XI L.P. bought a new position in shares of Devon Energy in the third quarter valued at approximately $461,857,000. EnCap Partners GP LLC bought a new position in shares of Devon Energy in the third quarter valued at approximately $408,653,000. EnCap Energy Capital Fund X L.P. bought a new position in shares of Devon Energy in the third quarter valued at approximately $230,928,000. International Assets Investment Management LLC boosted its holdings in shares of Devon Energy by 4,125.7% in the third quarter. International Assets Investment Management LLC now owns 2,280,961 shares of the energy company’s stock valued at $89,231,000 after acquiring an additional 2,226,983 shares in the last quarter. Finally, Pacer Advisors Inc. boosted its holdings in shares of Devon Energy by 16.9% in the third quarter. Pacer Advisors Inc. now owns 11,591,168 shares of the energy company’s stock valued at $453,446,000 after acquiring an additional 1,677,652 shares in the last quarter. 69.72% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on DVN shares. TD Cowen decreased their price objective on shares of Devon Energy from $54.00 to $46.00 and set a “hold” rating for the company in a report on Tuesday, November 5th. Wells Fargo & Company cut their target price on shares of Devon Energy from $49.00 to $43.00 and set an “overweight” rating for the company in a research note on Tuesday, December 17th. Susquehanna increased their target price on shares of Devon Energy from $50.00 to $52.00 and gave the company a “positive” rating in a research note on Thursday. Sanford C. Bernstein raised shares of Devon Energy from a “market perform” rating to an “outperform” rating and set a $45.00 target price for the company in a research note on Wednesday, January 15th. Finally, Benchmark reissued a “buy” rating and set a $44.00 target price on shares of Devon Energy in a research note on Thursday. Ten equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.83.

Devon Energy Stock Down 2.8 %

DVN stock opened at $37.49 on Monday. Devon Energy Co. has a 12-month low of $30.39 and a 12-month high of $55.09. The company has a quick ratio of 1.01, a current ratio of 1.04 and a debt-to-equity ratio of 0.57. The company has a market cap of $24.33 billion, a price-to-earnings ratio of 8.22, a PEG ratio of 1.20 and a beta of 1.98. The company has a 50 day moving average of $34.47 and a two-hundred day moving average of $38.31.

Devon Energy (NYSE:DVN) last released its earnings results on Tuesday, February 18th. The energy company reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.16. Devon Energy had a net margin of 18.14% and a return on equity of 22.52%. The company had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.25 billion. On average, equities analysts anticipate that Devon Energy Co. will post 4.85 earnings per share for the current fiscal year.

Devon Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a dividend of $0.24 per share. This is a positive change from Devon Energy’s previous quarterly dividend of $0.22. The ex-dividend date is Friday, March 14th. This represents a $0.96 annualized dividend and a dividend yield of 2.56%. Devon Energy’s dividend payout ratio is 19.30%.

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.