Devon Energy Corporation $DVN Shares Purchased by Brandywine Global Investment Management LLC

Brandywine Global Investment Management LLC boosted its position in Devon Energy Corporation (NYSE:DVN) by 0.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 693,545 shares of the energy company’s stock after buying an additional 4,976 shares during the period. Brandywine Global Investment Management LLC owned approximately 0.11% of Devon Energy worth $22,062,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Ameriprise Financial Inc. increased its stake in shares of Devon Energy by 81.1% in the first quarter. Ameriprise Financial Inc. now owns 5,029,987 shares of the energy company’s stock worth $188,131,000 after acquiring an additional 2,252,918 shares during the period. Vanguard Group Inc. lifted its position in Devon Energy by 2.6% during the first quarter. Vanguard Group Inc. now owns 82,780,738 shares of the energy company’s stock valued at $3,096,000,000 after purchasing an additional 2,098,568 shares during the period. Nuveen LLC purchased a new stake in Devon Energy in the first quarter valued at $69,975,000. AQR Capital Management LLC grew its position in Devon Energy by 100.0% during the 1st quarter. AQR Capital Management LLC now owns 3,558,362 shares of the energy company’s stock worth $132,051,000 after purchasing an additional 1,779,382 shares during the period. Finally, Encompass Capital Advisors LLC acquired a new stake in Devon Energy during the 1st quarter worth about $63,561,000. 69.72% of the stock is owned by hedge funds and other institutional investors.

Devon Energy Stock Up 1.3%

Shares of NYSE DVN opened at $35.63 on Friday. The firm has a market cap of $22.35 billion, a price-to-earnings ratio of 7.99, a price-to-earnings-growth ratio of 2.49 and a beta of 1.01. The company’s 50-day simple moving average is $33.97 and its 200-day simple moving average is $33.53. The company has a quick ratio of 1.13, a current ratio of 1.22 and a debt-to-equity ratio of 0.55. Devon Energy Corporation has a 52-week low of $25.89 and a 52-week high of $39.65.

Devon Energy (NYSE:DVN) last issued its quarterly earnings results on Wednesday, November 5th. The energy company reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.11. Devon Energy had a net margin of 16.57% and a return on equity of 18.59%. The firm had revenue of $0.00 million for the quarter, compared to analyst estimates of $4.10 billion. During the same period last year, the company posted $1.10 EPS. Equities analysts predict that Devon Energy Corporation will post 4.85 EPS for the current fiscal year.

Devon Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Monday, December 15th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Monday, December 15th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.7%. Devon Energy’s payout ratio is currently 22.59%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on DVN. Siebert Williams Shank lowered their target price on Devon Energy from $52.00 to $46.00 and set a “buy” rating on the stock in a research note on Monday, October 13th. Royal Bank Of Canada set a $42.00 price target on Devon Energy and gave the company a “sector perform” rating in a report on Friday, October 10th. William Blair assumed coverage on shares of Devon Energy in a research note on Monday, August 25th. They set an “outperform” rating on the stock. Capital One Financial cut their target price on shares of Devon Energy from $52.00 to $51.00 and set an “overweight” rating for the company in a report on Tuesday, November 11th. Finally, Mizuho lowered their price target on shares of Devon Energy from $43.00 to $40.00 and set an “outperform” rating on the stock in a report on Monday, September 15th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $43.79.

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.