Dimensional Fund Advisors LP Cuts Position in Devon Energy Co. (NYSE:DVN)

Dimensional Fund Advisors LP lowered its position in shares of Devon Energy Co. (NYSE:DVN) by 0.3% in the fourth quarter, Holdings Channel reports. The firm owned 9,250,864 shares of the energy company’s stock after selling 29,988 shares during the period. Dimensional Fund Advisors LP’s holdings in Devon Energy were worth $302,735,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Klein Pavlis & Peasley Financial Inc. acquired a new position in Devon Energy during the fourth quarter valued at approximately $782,000. World Investment Advisors LLC raised its stake in shares of Devon Energy by 3,440.3% in the 3rd quarter. World Investment Advisors LLC now owns 149,437 shares of the energy company’s stock valued at $5,846,000 after acquiring an additional 145,216 shares during the period. Resona Asset Management Co. Ltd. acquired a new position in shares of Devon Energy during the 4th quarter valued at $5,967,000. New York State Teachers Retirement System boosted its position in Devon Energy by 4.5% during the 4th quarter. New York State Teachers Retirement System now owns 736,351 shares of the energy company’s stock worth $24,101,000 after purchasing an additional 31,520 shares during the period. Finally, First Dallas Securities Inc. increased its holdings in Devon Energy by 31.9% in the 4th quarter. First Dallas Securities Inc. now owns 52,715 shares of the energy company’s stock valued at $1,725,000 after purchasing an additional 12,760 shares in the last quarter. Institutional investors and hedge funds own 69.72% of the company’s stock.

Devon Energy Trading Up 3.4 %

NYSE DVN opened at $30.29 on Monday. The firm has a market capitalization of $19.66 billion, a PE ratio of 6.64, a price-to-earnings-growth ratio of 1.20 and a beta of 1.50. Devon Energy Co. has a one year low of $25.89 and a one year high of $53.20. The company has a 50-day simple moving average of $33.92 and a 200-day simple moving average of $35.76. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.01 and a current ratio of 1.04.

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

Devon Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were paid a dividend of $0.24 per share. 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 yield of 3.17%. The ex-dividend date of this dividend was Friday, March 14th. Devon Energy’s dividend payout ratio is presently 21.05%.

Analysts Set New Price Targets

A number of research analysts have commented on DVN shares. JPMorgan Chase & Co. reduced their price objective on Devon Energy from $48.00 to $42.00 and set a “neutral” rating on the stock in a research note on Thursday, March 13th. Scotiabank decreased their price target on Devon Energy from $45.00 to $35.00 and set a “sector outperform” rating for the company in a report on Friday, April 11th. Morgan Stanley set a $47.00 price objective on shares of Devon Energy and gave the company an “overweight” rating in a research report on Wednesday, March 26th. Wolfe Research raised shares of Devon Energy from a “peer perform” rating to an “outperform” rating and set a $45.00 target price on the stock in a research report on Friday, January 3rd. Finally, Susquehanna raised their price target on shares of Devon Energy from $50.00 to $52.00 and gave the company a “positive” rating in a report on Thursday, February 20th. Ten investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $46.71.

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.