Devon Energy Co. (NYSE:DVN) Shares Acquired by Advisors Asset Management Inc.

Advisors Asset Management Inc. increased its position in shares of Devon Energy Co. (NYSE:DVN) by 7.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 139,708 shares of the energy company’s stock after buying an additional 9,510 shares during the period. Advisors Asset Management Inc.’s holdings in Devon Energy were worth $4,573,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in DVN. Cromwell Holdings LLC increased its position in shares of Devon Energy by 98.0% during the fourth quarter. Cromwell Holdings LLC now owns 1,208 shares of the energy company’s stock worth $40,000 after acquiring an additional 598 shares during the last quarter. Sierra Ocean LLC purchased a new stake in Devon Energy during the 4th quarter worth approximately $43,000. True Wealth Design LLC raised its position in shares of Devon Energy by 3,889.3% in the 3rd quarter. True Wealth Design LLC now owns 1,117 shares of the energy company’s stock valued at $44,000 after purchasing an additional 1,089 shares in the last quarter. Activest Wealth Management boosted its stake in shares of Devon Energy by 60.4% during the 3rd quarter. Activest Wealth Management now owns 1,275 shares of the energy company’s stock valued at $50,000 after buying an additional 480 shares during the last quarter. Finally, Endeavor Private Wealth Inc. acquired a new stake in shares of Devon Energy during the fourth quarter worth approximately $52,000. Institutional investors and hedge funds own 69.72% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on DVN. Benchmark reaffirmed a “buy” rating and issued a $44.00 price target on shares of Devon Energy in a report on Thursday, February 20th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $50.00 price target on shares of Devon Energy in a research report on Friday, January 10th. Susquehanna boosted their price objective on Devon Energy from $50.00 to $52.00 and gave the company a “positive” rating in a report on Thursday, February 20th. Citigroup reduced their target price on Devon Energy from $48.00 to $46.00 and set a “buy” rating on the stock in a report on Monday. Finally, JPMorgan Chase & Co. lowered their price target on Devon Energy from $48.00 to $42.00 and set a “neutral” rating for the company in a report on Thursday, March 13th. Ten investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.46.

Devon Energy Stock Performance

Shares of DVN stock opened at $36.08 on Thursday. Devon Energy Co. has a 12-month low of $30.39 and a 12-month high of $55.09. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 1.01. The firm has a market capitalization of $23.41 billion, a price-to-earnings ratio of 7.91, a price-to-earnings-growth ratio of 1.20 and a beta of 1.91. The business has a 50 day simple moving average of $35.44 and a 200 day simple moving average of $37.13.

Devon Energy (NYSE:DVN) last released its quarterly earnings results on Tuesday, February 18th. The energy company reported $1.16 earnings per share (EPS) for the quarter, topping 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 analysts’ expectations of $4.25 billion. On average, equities research analysts anticipate that Devon Energy Co. will post 4.85 EPS for the current year.

Devon Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a dividend of $0.24 per share. This is a boost from Devon Energy’s previous quarterly dividend of $0.22. The ex-dividend date is Friday, March 14th. This represents a $0.96 annualized dividend and a yield of 2.66%. Devon Energy’s dividend payout ratio (DPR) is presently 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.