Siemens Fonds Invest GmbH Invests $187,000 in Devon Energy Co. (NYSE:DVN)

Siemens Fonds Invest GmbH bought a new position in shares of Devon Energy Co. (NYSE:DVN) during the fourth quarter, Holdings Channel.com reports. The firm bought 5,719 shares of the energy company’s stock, valued at approximately $187,000.

A number of other large investors also recently modified their holdings of DVN. Assenagon Asset Management S.A. lifted its position in shares of Devon Energy by 312.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 328,029 shares of the energy company’s stock worth $10,736,000 after purchasing an additional 248,509 shares in the last quarter. Empirical Asset Management LLC acquired a new position in Devon Energy in the fourth quarter valued at approximately $763,000. Merit Financial Group LLC acquired a new position in Devon Energy in the fourth quarter valued at approximately $240,000. Brooklyn Investment Group lifted its holdings in Devon Energy by 76.6% in the fourth quarter. Brooklyn Investment Group now owns 8,042 shares of the energy company’s stock valued at $263,000 after buying an additional 3,487 shares during the period. Finally, Arkadios Wealth Advisors lifted its holdings in Devon Energy by 9.0% in the fourth quarter. Arkadios Wealth Advisors now owns 52,362 shares of the energy company’s stock valued at $1,714,000 after buying an additional 4,338 shares during the period. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

DVN has been the topic of several analyst reports. Mizuho cut their price objective on shares of Devon Energy from $46.00 to $43.00 and set an “outperform” rating on the stock in a report on Tuesday, May 13th. Cowen lowered shares of Devon Energy to a “hold” rating and cut their price objective for the company from $46.00 to $45.00 in a report on Tuesday, February 18th. Bank of America cut their price objective on shares of Devon Energy from $52.00 to $42.00 and set a “buy” rating on the stock in a report on Tuesday, April 29th. The Goldman Sachs Group increased their target price on shares of Devon Energy from $38.00 to $43.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Raymond James set a $40.00 target price on shares of Devon Energy in a report on Monday, April 21st. Ten equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, Devon Energy has an average rating of “Moderate Buy” and a consensus price target of $43.83.

Devon Energy Stock Down 0.4%

Shares of DVN stock opened at $33.26 on Monday. The firm has a fifty day moving average of $32.50 and a 200-day moving average of $34.51. The company has a quick ratio of 1.01, a current ratio of 1.04 and a debt-to-equity ratio of 0.57. Devon Energy Co. has a 12-month low of $25.89 and a 12-month high of $50.24. The company has a market capitalization of $21.35 billion, a price-to-earnings ratio of 7.29, a P/E/G ratio of 1.20 and a beta of 1.00.

Devon Energy (NYSE:DVN) last released its earnings results on Tuesday, May 6th. The energy company reported $1.21 earnings per share for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.06). The business had revenue of $4.45 billion during the quarter, compared to the consensus estimate of $4.31 billion. Devon Energy had a net margin of 18.14% and a return on equity of 22.52%. The firm’s revenue for the quarter was up 23.8% on a year-over-year basis. During the same period last year, the business posted $1.16 EPS. As a group, equities research analysts predict that Devon Energy Co. will post 4.85 earnings per share for the current fiscal year.

Devon Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 2.89%. The ex-dividend date of this dividend is Friday, June 13th. Devon Energy’s dividend payout ratio (DPR) is currently 21.87%.

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.