Fuller & Thaler Asset Management Inc. Increases Holdings in Devon Energy Co. (NYSE:DVN)

Fuller & Thaler Asset Management Inc. lifted its position in shares of Devon Energy Co. (NYSE:DVN) by 42.8% in the fourth quarter, HoldingsChannel reports. The fund owned 10,395,225 shares of the energy company’s stock after buying an additional 3,114,656 shares during the period. Devon Energy accounts for approximately 1.3% of Fuller & Thaler Asset Management Inc.’s investment portfolio, making the stock its 7th largest holding. Fuller & Thaler Asset Management Inc.’s holdings in Devon Energy were worth $340,236,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in DVN. Hurley Capital LLC bought a new stake in Devon Energy during the 4th quarter worth about $26,000. Cromwell Holdings LLC grew its position in shares of Devon Energy by 98.0% during the 4th quarter. Cromwell Holdings LLC now owns 1,208 shares of the energy company’s stock worth $40,000 after buying an additional 598 shares during the period. Sierra Ocean LLC bought a new stake in shares of Devon Energy during the fourth quarter worth approximately $43,000. Endeavor Private Wealth Inc. acquired a new position in Devon Energy in the fourth quarter valued at approximately $52,000. Finally, Thompson Investment Management Inc. boosted its stake in Devon Energy by 60.0% in the fourth quarter. Thompson Investment Management Inc. now owns 1,600 shares of the energy company’s stock valued at $52,000 after acquiring an additional 600 shares during the last quarter. Institutional investors and hedge funds own 69.72% of the company’s stock.

Wall Street Analyst Weigh In

DVN has been the subject of several recent research reports. Citigroup dropped their target price on shares of Devon Energy from $46.00 to $43.00 and set a “buy” rating for the company in a research report on Friday, April 4th. Cowen downgraded Devon Energy to a “hold” rating and dropped their price objective for the company from $46.00 to $45.00 in a report on Tuesday, February 18th. Williams Trading set a $50.00 target price on Devon Energy in a report on Wednesday, March 5th. Morgan Stanley set a $47.00 price target on Devon Energy and gave the company an “overweight” rating in a research note on Wednesday, March 26th. Finally, Sanford C. Bernstein raised shares of Devon Energy from a “market perform” rating to an “outperform” rating and set a $45.00 price objective on the stock in a research note on Wednesday, January 15th. Ten equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $45.96.

Devon Energy Trading Up 5.7 %

NYSE:DVN opened at $31.17 on Wednesday. The business has a 50 day moving average price of $33.77 and a two-hundred day moving average price of $35.63. 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 $20.23 billion, a P/E ratio of 6.84, a price-to-earnings-growth ratio of 1.20 and a beta of 1.50. Devon Energy Co. has a twelve month low of $25.89 and a twelve month high of $53.20.

Devon Energy (NYSE:DVN) last issued its quarterly earnings results on Tuesday, February 18th. The energy company reported $1.16 EPS for the quarter, topping the consensus estimate of $1.00 by $0.16. The firm had revenue of $4.40 billion for 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%. As a group, analysts expect that Devon Energy Co. will post 4.85 EPS for the current fiscal year.

Devon Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 3.08%. This is an increase from Devon Energy’s previous quarterly dividend of $0.22. The ex-dividend date was Friday, March 14th. Devon Energy’s dividend payout ratio (DPR) is currently 21.05%.

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.