Oregon Public Employees Retirement Fund Acquires 2,780 Shares of Devon Energy Co. (NYSE:DVN)

Oregon Public Employees Retirement Fund lifted its holdings in Devon Energy Co. (NYSE:DVN) by 5.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 56,359 shares of the energy company’s stock after purchasing an additional 2,780 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Devon Energy were worth $1,845,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in DVN. State of Alaska Department of Revenue increased its stake in shares of Devon Energy by 1.5% in the third quarter. State of Alaska Department of Revenue now owns 75,210 shares of the energy company’s stock worth $2,941,000 after purchasing an additional 1,085 shares during the period. Pallas Capital Advisors LLC bought a new position in Devon Energy during the third quarter valued at about $285,000. Integrated Advisors Network LLC increased its stake in Devon Energy by 6.0% during the third quarter. Integrated Advisors Network LLC now owns 7,875 shares of the energy company’s stock valued at $308,000 after acquiring an additional 446 shares during the period. New York State Teachers Retirement System increased its stake in Devon Energy by 14.2% during the third quarter. New York State Teachers Retirement System now owns 704,831 shares of the energy company’s stock valued at $27,573,000 after acquiring an additional 87,462 shares during the period. Finally, Pinnacle Associates Ltd. increased its stake in Devon Energy by 25.6% during the third quarter. Pinnacle Associates Ltd. now owns 141,098 shares of the energy company’s stock valued at $5,520,000 after acquiring an additional 28,788 shares during the period. 69.72% of the stock is currently owned by institutional investors.

Devon Energy Stock Up 1.0 %

Shares of NYSE DVN opened at $36.24 on Friday. Devon Energy Co. has a 12-month low of $30.39 and a 12-month high of $55.09. The firm’s 50-day simple moving average is $34.94 and its 200 day simple moving average is $38.10. The company has a quick ratio of 1.01, a current ratio of 1.04 and a debt-to-equity ratio of 0.57. The company has a market cap of $23.52 billion, a price-to-earnings ratio of 7.95, a price-to-earnings-growth ratio of 1.20 and a beta of 1.98.

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

Devon Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.65%. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from Devon Energy’s previous quarterly dividend of $0.22. Devon Energy’s dividend payout ratio (DPR) is presently 21.05%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Citigroup lowered their price target on Devon Energy from $55.00 to $48.00 and set a “buy” rating on the stock in a research note on Tuesday, November 26th. TD Cowen lowered their price target on Devon Energy from $54.00 to $46.00 and set a “hold” rating on the stock in a research note on Tuesday, November 5th. Susquehanna boosted their price target on Devon Energy from $50.00 to $52.00 and gave the company a “positive” rating in a research note on Thursday, February 20th. 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 research note on Thursday, December 5th. Finally, Mizuho lowered their price target on Devon Energy from $51.00 to $47.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. Ten investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $48.87.

About Devon Energy

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.