Devon Energy Co. (NYSE:DVN) Shares Purchased by Value Holdings Management CO. LLC

Value Holdings Management CO. LLC raised its stake in shares of Devon Energy Co. (NYSE:DVN) by 200.0% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 63,000 shares of the energy company’s stock after acquiring an additional 42,000 shares during the period. Value Holdings Management CO. LLC’s holdings in Devon Energy were worth $2,062,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the stock. Envestnet Asset Management Inc. raised its position in Devon Energy by 0.5% during the second quarter. Envestnet Asset Management Inc. now owns 315,446 shares of the energy company’s stock worth $14,952,000 after acquiring an additional 1,591 shares during the period. Edgestream Partners L.P. purchased a new position in shares of Devon Energy in the second quarter worth about $342,000. Axxcess Wealth Management LLC boosted its position in Devon Energy by 116.7% during the second quarter. Axxcess Wealth Management LLC now owns 14,737 shares of the energy company’s stock worth $699,000 after acquiring an additional 7,937 shares during the last quarter. Mercer Global Advisors Inc. ADV grew its stake in Devon Energy by 2.3% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 104,754 shares of the energy company’s stock valued at $4,958,000 after acquiring an additional 2,384 shares in the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. grew its stake in Devon Energy by 12.5% during the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 10,567 shares of the energy company’s stock valued at $501,000 after acquiring an additional 1,172 shares in the last quarter. 69.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

DVN has been the subject of several analyst reports. Royal Bank of Canada reiterated a “sector perform” rating and issued a $50.00 price objective on shares of Devon Energy in a research report on Friday, January 10th. Mizuho decreased their price target on shares of Devon Energy from $51.00 to $47.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. Benchmark raised Devon Energy from a “hold” rating to a “buy” rating and set a $44.00 target price on the stock in a research report on Tuesday. BMO Capital Markets decreased their price objective on shares of Devon Energy from $52.00 to $48.00 and set an “outperform” rating for the company in a research note on Friday, October 4th. Finally, JPMorgan Chase & Co. lowered Devon Energy from an “overweight” rating to a “neutral” rating and set a $43.00 price target on the stock. in a report on Thursday, December 5th. Nine analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $49.27.

Devon Energy Trading Down 1.2 %

DVN traded down $0.44 during trading on Friday, hitting $37.98. The company’s stock had a trading volume of 9,342,292 shares, compared to its average volume of 10,750,120. Devon Energy Co. has a twelve month low of $30.39 and a twelve month high of $55.09. The stock has a market cap of $24.95 billion, a PE ratio of 7.05, a PEG ratio of 1.14 and a beta of 2.00. The firm’s 50 day moving average price is $35.48 and its 200-day moving average price is $40.32. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.11 and a quick ratio of 1.01.

Devon Energy (NYSE:DVN) last issued its quarterly earnings results on Tuesday, November 5th. The energy company reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.01. The firm had revenue of $4.02 billion for the quarter, compared to analyst estimates of $3.72 billion. Devon Energy had a return on equity of 24.73% and a net margin of 21.71%. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period last year, the company earned $1.65 EPS. On average, analysts expect that Devon Energy Co. will post 4.72 earnings per share for the current year.

Devon Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Friday, December 13th were paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date was Friday, December 13th. Devon Energy’s dividend payout ratio is currently 16.33%.

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.