Howard Capital Management Inc. Has $885,000 Stock Holdings in Devon Energy Co. (NYSE:DVN)

Howard Capital Management Inc. grew its stake in Devon Energy Co. (NYSE:DVN) by 12.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 27,043 shares of the energy company’s stock after purchasing an additional 2,902 shares during the quarter. Howard Capital Management Inc.’s holdings in Devon Energy were worth $885,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Geode Capital Management LLC boosted its holdings in Devon Energy by 1.3% during the third quarter. Geode Capital Management LLC now owns 15,892,970 shares of the energy company’s stock worth $619,747,000 after buying an additional 206,884 shares during the last quarter. EnCap Energy Capital Fund XI L.P. bought a new position in Devon Energy during the 3rd quarter worth approximately $461,857,000. Pacer Advisors Inc. grew its holdings in Devon Energy by 16.9% during the third quarter. Pacer Advisors Inc. now owns 11,591,168 shares of the energy company’s stock valued at $453,446,000 after purchasing an additional 1,677,652 shares during the period. EnCap Partners GP LLC bought a new stake in Devon Energy in the third quarter valued at approximately $408,653,000. Finally, Victory Capital Management Inc. raised its holdings in Devon Energy by 3.8% in the third quarter. Victory Capital Management Inc. now owns 9,971,343 shares of the energy company’s stock worth $390,079,000 after purchasing an additional 361,968 shares during the period. 69.72% of the stock is currently owned by institutional investors.

Devon Energy Stock Performance

Shares of NYSE DVN opened at $37.49 on Monday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.01 and a current ratio of 1.04. The stock has a 50 day moving average price of $34.47 and a 200 day moving average price of $38.31. The stock has a market capitalization of $24.33 billion, a PE ratio of 8.22, a price-to-earnings-growth ratio of 1.20 and a beta of 1.98. Devon Energy Co. has a 52 week low of $30.39 and a 52 week high of $55.09.

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

Devon Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a $0.24 dividend. This is an increase from Devon Energy’s previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a yield of 2.56%. The ex-dividend date of this dividend is Friday, March 14th. Devon Energy’s dividend payout ratio (DPR) is 19.30%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. TD Cowen decreased their price target on shares of Devon Energy from $54.00 to $46.00 and set a “hold” rating for the company in a report on Tuesday, November 5th. Mizuho lowered their price target on Devon Energy from $51.00 to $47.00 and set an “outperform” rating for the company in a report on Monday, December 16th. Susquehanna lifted their price objective on Devon Energy from $50.00 to $52.00 and gave the company a “positive” rating in a report on Thursday. Wells Fargo & Company lowered their target price on Devon Energy from $49.00 to $43.00 and set an “overweight” rating for the company in a research note on Tuesday, December 17th. Finally, Cowen lowered shares of Devon Energy to a “hold” rating and cut their price target for the company from $46.00 to $45.00 in a research note on Tuesday, February 18th. Ten research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $48.83.

Devon Energy Company 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.