EnCap Partners GP LLC Has $181.03 Million Stock Position in Devon Energy Co. (NYSE:DVN)

EnCap Partners GP LLC trimmed its holdings in Devon Energy Co. (NYSE:DVN) by 47.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,530,996 shares of the energy company’s stock after selling 4,915,142 shares during the quarter. Devon Energy makes up about 100.0% of EnCap Partners GP LLC’s portfolio, making the stock its biggest position. EnCap Partners GP LLC owned 0.84% of Devon Energy worth $181,029,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Principal Financial Group Inc. increased its position in Devon Energy by 1.0% during the 3rd quarter. Principal Financial Group Inc. now owns 731,978 shares of the energy company’s stock valued at $28,635,000 after buying an additional 7,487 shares in the last quarter. Nordea Investment Management AB grew its holdings in Devon Energy by 70.0% during the fourth quarter. Nordea Investment Management AB now owns 65,861 shares of the energy company’s stock worth $2,145,000 after acquiring an additional 27,114 shares during the period. Hudson Valley Investment Advisors Inc. ADV lifted its stake in shares of Devon Energy by 20.8% in the 4th quarter. Hudson Valley Investment Advisors Inc. ADV now owns 6,600 shares of the energy company’s stock valued at $216,000 after purchasing an additional 1,137 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in shares of Devon Energy by 90.8% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 2,724,407 shares of the energy company’s stock valued at $89,170,000 after acquiring an additional 1,296,590 shares during the period. Finally, Sugarloaf Wealth Management LLC increased its position in shares of Devon Energy by 159.0% in the fourth quarter. Sugarloaf Wealth Management LLC now owns 15,717 shares of the energy company’s stock valued at $514,000 after buying an additional 9,648 shares in the last quarter. 69.72% of the stock is currently owned by institutional investors.

Devon Energy Stock Up 5.6 %

Shares of NYSE DVN opened at $31.98 on Friday. 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 business’s 50 day moving average is $32.58 and its two-hundred day moving average is $34.80. Devon Energy Co. has a 52-week low of $25.89 and a 52-week high of $51.20. The firm has a market cap of $20.57 billion, a price-to-earnings ratio of 7.01, a PEG ratio of 1.20 and a beta of 1.00.

Devon Energy (NYSE:DVN) last posted its quarterly earnings data on Tuesday, May 6th. The energy company reported $1.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.27 by ($0.06). Devon Energy had a net margin of 18.14% and a return on equity of 22.52%. The firm had revenue of $4.45 billion during the quarter, compared to analysts’ expectations of $4.31 billion. During the same quarter in the prior year, the firm posted $1.16 EPS. Devon Energy’s quarterly revenue was up 23.8% compared to the same quarter last year. Research analysts predict that Devon Energy Co. will post 4.85 EPS for the current year.

Devon Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be given a $0.24 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.96 annualized dividend and a yield of 3.00%. Devon Energy’s dividend payout ratio is presently 21.05%.

Analyst Ratings Changes

Several brokerages recently commented on DVN. JPMorgan Chase & Co. dropped their price target on Devon Energy from $48.00 to $42.00 and set a “neutral” rating for the company in a research report on Thursday, March 13th. Sanford C. Bernstein upgraded shares of Devon Energy from a “market perform” rating to an “outperform” rating and set a $45.00 target price for the company in a research report on Wednesday, January 15th. Cowen downgraded shares of Devon Energy to a “hold” rating and decreased their price target for the stock from $46.00 to $45.00 in a research note on Tuesday, February 18th. Royal Bank of Canada cut their price target on Devon Energy from $49.00 to $40.00 and set a “sector perform” rating for the company in a report on Monday, April 14th. Finally, Bank of America lowered their price objective on Devon Energy from $52.00 to $42.00 and set a “buy” rating on the stock in a research note on Tuesday, April 29th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, Devon Energy presently has a consensus rating of “Moderate Buy” and an average target price of $43.96.

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.