Magnetar Financial LLC Invests $360,000 in Devon Energy Co. (NYSE:DVN)

Magnetar Financial LLC purchased a new stake in shares of Devon Energy Co. (NYSE:DVN) in the fourth quarter, Holdings Channel reports. The firm purchased 10,986 shares of the energy company’s stock, valued at approximately $360,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Geode Capital Management LLC increased its position in shares of 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 valued at $619,747,000 after acquiring an additional 206,884 shares during the last quarter. EnCap Energy Capital Fund XI L.P. purchased a new stake in shares of Devon Energy during the third quarter valued at approximately $461,857,000. EnCap Partners GP LLC purchased a new stake in shares of Devon Energy during the third quarter valued at approximately $408,653,000. Victory Capital Management Inc. increased its position in shares of Devon Energy by 2.3% during the fourth quarter. Victory Capital Management Inc. now owns 10,203,812 shares of the energy company’s stock valued at $333,971,000 after acquiring an additional 232,469 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Devon Energy by 1.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,793,610 shares of the energy company’s stock valued at $265,766,000 after acquiring an additional 70,848 shares during the last quarter. 69.72% of the stock is owned by hedge funds and other institutional investors.

Devon Energy Trading Up 0.1 %

Shares of DVN stock opened at $36.18 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.01 and a current ratio of 1.04. Devon Energy Co. has a 52-week low of $30.39 and a 52-week high of $55.09. The company has a market capitalization of $23.48 billion, a PE ratio of 7.93, a price-to-earnings-growth ratio of 1.20 and a beta of 1.91. The business’s fifty day moving average is $35.46 and its 200 day moving average is $37.02.

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

Devon Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date is Friday, March 14th. This is an increase from Devon Energy’s previous quarterly dividend of $0.22. Devon Energy’s dividend payout ratio (DPR) is 21.05%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Barclays increased their price target on Devon Energy from $43.00 to $44.00 and gave the company an “equal weight” rating in a research report on Thursday, February 20th. Citigroup reduced their price objective on Devon Energy from $48.00 to $46.00 and set a “buy” rating for the company in a report on Monday, March 17th. Mizuho reduced their price objective on Devon Energy from $51.00 to $47.00 and set an “outperform” rating for the company in a report on Monday, December 16th. Cowen lowered Devon Energy to a “hold” rating and reduced their price objective for the company from $46.00 to $45.00 in a report on Tuesday, February 18th. Finally, Williams Trading set a $50.00 price objective on Devon Energy in a report on Wednesday, March 5th. Ten equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, Devon Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $48.46.

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.