BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in shares of Devon Energy Corp (NYSE:DVN) by 7.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 172,441 shares of the energy company’s stock after buying an additional 11,256 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Devon Energy were worth $3,887,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently made changes to their positions in the business. Duncker Streett & Co. Inc. grew its stake in shares of Devon Energy by 40.5% during the 4th quarter. Duncker Streett & Co. Inc. now owns 1,600 shares of the energy company’s stock worth $36,000 after purchasing an additional 461 shares during the period. AGF Investments Inc. grew its stake in shares of Devon Energy by 0.5% during the 4th quarter. AGF Investments Inc. now owns 96,627 shares of the energy company’s stock worth $2,178,000 after purchasing an additional 526 shares during the period. Cambridge Investment Research Advisors Inc. grew its stake in shares of Devon Energy by 3.1% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 21,332 shares of the energy company’s stock worth $481,000 after purchasing an additional 636 shares during the period. Westbourne Investment Advisors Inc. grew its stake in shares of Devon Energy by 6.3% during the 4th quarter. Westbourne Investment Advisors Inc. now owns 11,749 shares of the energy company’s stock worth $265,000 after purchasing an additional 699 shares during the period. Finally, Hedeker Wealth LLC grew its stake in shares of Devon Energy by 3.0% during the 4th quarter. Hedeker Wealth LLC now owns 24,736 shares of the energy company’s stock worth $557,000 after purchasing an additional 712 shares during the period. Institutional investors own 80.74% of the company’s stock.
DVN has been the topic of a number of recent analyst reports. Johnson Rice cut shares of Devon Energy from a “buy” rating to an “accumulate” rating in a research note on Tuesday, January 8th. MKM Partners initiated coverage on shares of Devon Energy in a research note on Wednesday, December 5th. They set a “buy” rating and a $38.00 price target on the stock. Piper Jaffray Companies reaffirmed a “buy” rating on shares of Devon Energy in a research note on Monday, November 19th. Barclays lowered their price target on shares of Devon Energy from $43.00 to $42.00 and set a “buy” rating on the stock in a research note on Thursday, November 15th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $50.00 price target on shares of Devon Energy in a research note on Tuesday, November 27th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fifteen have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $45.48.
Shares of NYSE DVN opened at $29.50 on Friday. The stock has a market capitalization of $12.86 billion, a P/E ratio of 22.87, a price-to-earnings-growth ratio of 1.76 and a beta of 2.25. Devon Energy Corp has a 52 week low of $20.37 and a 52 week high of $46.54. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.99 and a current ratio of 1.99.
Devon Energy (NYSE:DVN) last issued its quarterly earnings data on Tuesday, February 19th. The energy company reported $0.10 EPS for the quarter, missing the Zacks’ consensus estimate of $0.31 by ($0.21). The business had revenue of $3.71 billion during the quarter, compared to analyst estimates of $1.97 billion. Devon Energy had a net margin of 24.82% and a return on equity of 5.73%. During the same period in the previous year, the company posted $0.38 earnings per share. As a group, equities research analysts expect that Devon Energy Corp will post 1.23 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 1.22%. This is a positive change from Devon Energy’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Thursday, June 13th. Devon Energy’s dividend payout ratio is 24.81%.
In other news, Director Robert H. Henry bought 11,651 shares of Devon Energy stock in a transaction on Wednesday, February 27th. The shares were bought at an average cost of $30.01 per share, for a total transaction of $349,646.51. Following the acquisition, the director now owns 21,355 shares in the company, valued at $640,863.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.55% of the stock is currently owned by corporate insiders.
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Devon Energy Company Profile
Devon Energy Corporation, an independent energy company, primarily engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States and Canada. It operates approximately 12,900 gross wells. The company was founded in 1971 and is headquartered in Oklahoma City, Oklahoma.
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