Devon Energy Co. (NYSE:DVN) Shares Purchased by GoodHaven Capital Management LLC

GoodHaven Capital Management LLC increased its holdings in shares of Devon Energy Co. (NYSE:DVN) by 15.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 452,357 shares of the energy company’s stock after purchasing an additional 59,700 shares during the period. Devon Energy accounts for 4.8% of GoodHaven Capital Management LLC’s investment portfolio, making the stock its 7th largest holding. GoodHaven Capital Management LLC owned 0.07% of Devon Energy worth $14,806,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of DVN. EnCap Energy Capital Fund XI L.P. acquired a new stake in Devon Energy during the 3rd quarter worth $461,857,000. EnCap Partners GP LLC acquired a new stake in shares of Devon Energy in the 3rd quarter worth $408,653,000. EnCap Energy Capital Fund X L.P. acquired a new stake in shares of Devon Energy in the 3rd quarter worth $230,928,000. Raymond James Financial Inc. acquired a new stake in shares of Devon Energy in the 4th quarter worth $154,170,000. Finally, Pacer Advisors Inc. lifted its stake in shares of Devon Energy by 16.9% in the 3rd quarter. Pacer Advisors Inc. now owns 11,591,168 shares of the energy company’s stock worth $453,446,000 after acquiring an additional 1,677,652 shares during the period. Institutional investors and hedge funds own 69.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on DVN. Raymond James reduced their target price on shares of Devon Energy from $54.00 to $46.00 and set an “outperform” rating for the company in a research note on Monday, March 10th. Royal Bank of Canada restated a “sector perform” rating and issued a $50.00 target price on shares of Devon Energy in a research note on Friday, January 10th. JPMorgan Chase & Co. reduced their target price on shares of Devon Energy from $48.00 to $42.00 and set a “neutral” rating for the company in a research note on Thursday, March 13th. Williams Trading set a $50.00 target price on shares of Devon Energy in a research note on Wednesday, March 5th. Finally, Wolfe Research upgraded shares of Devon Energy from a “peer perform” rating to an “outperform” rating and set a $45.00 price target for the company in a report on Friday, January 3rd. Ten equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Devon Energy has an average rating of “Moderate Buy” and an average price target of $48.46.

Devon Energy Stock Performance

NYSE:DVN opened at $36.08 on Thursday. The company has a market capitalization of $23.41 billion, a P/E ratio of 7.91, a price-to-earnings-growth ratio of 1.20 and a beta of 1.91. Devon Energy Co. has a twelve month low of $30.39 and a twelve month high of $55.09. The company has a current ratio of 1.04, a quick ratio of 1.01 and a debt-to-equity ratio of 0.57. The firm has a 50-day moving average price of $35.44 and a two-hundred day moving average price of $37.13.

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

Devon Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, March 14th. This is an increase from Devon Energy’s previous quarterly dividend of $0.22. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.66%. Devon Energy’s 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.