Devon Energy Co. (NYSE:DVN) Stock Position Increased by MV Capital Management Inc.

MV Capital Management Inc. grew its position in Devon Energy Co. (NYSE:DVN) by 105.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,959 shares of the energy company’s stock after purchasing an additional 1,517 shares during the period. MV Capital Management Inc.’s holdings in Devon Energy were worth $97,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in Devon Energy by 7.3% during the 4th quarter. Vanguard Group Inc. now owns 80,682,170 shares of the energy company’s stock valued at $2,640,727,000 after acquiring an additional 5,465,692 shares in the last quarter. Geode Capital Management LLC grew its position in Devon Energy by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 15,892,970 shares of the energy company’s stock valued at $619,747,000 after buying an additional 206,884 shares in the last quarter. EnCap Energy Capital Fund XI L.P. acquired a new position in Devon Energy during the 3rd quarter valued at about $461,857,000. EnCap Partners GP LLC bought a new stake in shares of Devon Energy during the 3rd quarter worth about $408,653,000. Finally, Victory Capital Management Inc. lifted its stake in shares of Devon Energy by 2.3% in the 4th quarter. Victory Capital Management Inc. now owns 10,203,812 shares of the energy company’s stock worth $333,971,000 after acquiring an additional 232,469 shares during the period. Institutional investors and hedge funds own 69.72% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Susquehanna boosted their target price on Devon Energy from $50.00 to $52.00 and gave the stock a “positive” rating in a report on Thursday, February 20th. Morgan Stanley set a $47.00 price objective on Devon Energy and gave the company an “overweight” rating in a report on Wednesday. Sanford C. Bernstein upgraded shares of Devon Energy from a “market perform” rating to an “outperform” rating and set a $45.00 price target on the stock in a research report on Wednesday, January 15th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $50.00 target price on shares of Devon Energy in a report on Friday, January 10th. Finally, Wells Fargo & Company reduced their target price on shares of Devon Energy from $49.00 to $43.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th. Ten investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $48.29.

Devon Energy Stock Down 0.3 %

Shares of DVN stock opened at $36.79 on Friday. The stock has a 50 day moving average of $35.38 and a 200-day moving average of $36.89. The firm has a market cap of $23.87 billion, a PE ratio of 8.07, a price-to-earnings-growth ratio of 1.20 and a beta of 1.91. The company has a quick ratio of 1.01, a current ratio of 1.04 and a debt-to-equity ratio of 0.57. Devon Energy Co. has a 12 month low of $30.39 and a 12 month high of $55.09.

Devon Energy (NYSE:DVN) last posted its quarterly earnings data on Tuesday, February 18th. The energy company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $4.25 billion. On average, equities analysts predict that Devon Energy Co. will post 4.85 EPS for the current year.

Devon Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a $0.24 dividend. This is a boost from Devon Energy’s previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a yield of 2.61%. The ex-dividend date is Friday, March 14th. Devon Energy’s dividend payout ratio (DPR) is 21.05%.

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.