Devon Energy Co. (NYSE:DVN) Shares Sold by Flputnam Investment Management Co.

Flputnam Investment Management Co. lowered its stake in Devon Energy Co. (NYSE:DVN) by 11.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 75,335 shares of the energy company’s stock after selling 9,651 shares during the quarter. Flputnam Investment Management Co.’s holdings in Devon Energy were worth $2,466,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the stock. Geode Capital Management LLC lifted its position in shares of Devon Energy by 1.3% in the third quarter. Geode Capital Management LLC now owns 15,892,970 shares of the energy company’s stock valued at $619,747,000 after acquiring an additional 206,884 shares in the last quarter. EnCap Energy Capital Fund XI L.P. acquired a new position in Devon Energy in the 3rd quarter valued at about $461,857,000. Pacer Advisors Inc. lifted its holdings in Devon Energy by 16.9% in the 3rd quarter. Pacer Advisors Inc. now owns 11,591,168 shares of the energy company’s stock valued at $453,446,000 after purchasing an additional 1,677,652 shares in the last quarter. EnCap Partners GP LLC acquired a new stake in shares of Devon Energy during the 3rd quarter worth about $408,653,000. Finally, Victory Capital Management Inc. raised its position in shares of Devon Energy by 3.8% in the third quarter. Victory Capital Management Inc. now owns 9,971,343 shares of the energy company’s stock valued at $390,079,000 after buying an additional 361,968 shares during the last quarter. Institutional investors and hedge funds own 69.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on DVN. Benchmark restated a “buy” rating and set a $44.00 target price on shares of Devon Energy in a research report on Thursday, February 20th. Cowen cut Devon Energy to a “hold” rating and decreased their price objective for the stock from $46.00 to $45.00 in a report on Tuesday, February 18th. JPMorgan Chase & Co. lowered Devon Energy from an “overweight” rating to a “neutral” rating and set a $43.00 target price for the company. in a research note on Thursday, December 5th. StockNews.com raised Devon Energy from a “sell” rating to a “hold” rating in a research note on Friday, January 3rd. Finally, Wells Fargo & Company dropped their price objective 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. Ten equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, Devon Energy currently has a consensus rating of “Moderate Buy” and an average target price of $48.87.

Devon Energy Trading Up 1.0 %

NYSE:DVN opened at $36.24 on Friday. The business’s 50-day moving average is $34.94 and its two-hundred day moving average is $38.05. The firm has a market capitalization of $23.52 billion, a PE ratio of 7.95, a price-to-earnings-growth ratio of 1.20 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 debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 1.01.

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

Devon Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a $0.24 dividend. The ex-dividend date is Friday, March 14th. This is an increase from Devon Energy’s previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a dividend yield of 2.65%. Devon Energy’s dividend payout ratio is 21.05%.

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.