Loomis Sayles & Co. L P Has $424,000 Position in Devon Energy Co. (NYSE:DVN)

Loomis Sayles & Co. L P lessened its holdings in shares of Devon Energy Co. (NYSE:DVN) by 9.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 12,965 shares of the energy company’s stock after selling 1,356 shares during the period. Loomis Sayles & Co. L P’s holdings in Devon Energy were worth $424,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. EnCap Energy Capital Fund XI L.P. bought a new position in Devon Energy during the third quarter valued at about $461,857,000. EnCap Partners GP LLC bought a new stake in shares of Devon Energy during the third quarter valued at approximately $408,653,000. EnCap Energy Capital Fund X L.P. acquired a new position in shares of Devon Energy in the third quarter valued at $230,928,000. Vanguard Group Inc. boosted its stake in Devon Energy by 7.3% during the fourth quarter. Vanguard Group Inc. now owns 80,682,170 shares of the energy company’s stock worth $2,640,727,000 after buying an additional 5,465,692 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Devon Energy in the 4th quarter valued at $154,170,000. Institutional investors own 69.72% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on DVN shares. Benchmark reiterated a “buy” rating and set a $44.00 target price on shares of Devon Energy in a research report on Thursday, February 20th. Cowen lowered Devon Energy to a “hold” rating and lowered their price objective for the company from $46.00 to $45.00 in a research note on Tuesday, February 18th. Mizuho cut their target price on Devon Energy from $51.00 to $47.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. JPMorgan Chase & Co. lowered their price target on Devon Energy from $48.00 to $42.00 and set a “neutral” rating on the stock in a research report on Thursday, March 13th. Finally, Wells Fargo & Company dropped their price objective 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. Ten research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $48.29.

Devon Energy Stock Performance

Devon Energy stock opened at $36.79 on Friday. Devon Energy Co. has a 1 year low of $30.39 and a 1 year high of $55.09. The company’s 50-day moving average is $35.38 and its two-hundred day moving average is $36.87. The company has a current ratio of 1.04, a quick ratio of 1.01 and a debt-to-equity ratio of 0.57. The company has a market cap of $23.87 billion, a PE ratio of 8.07, a PEG ratio of 1.20 and a beta of 1.91.

Devon Energy (NYSE:DVN) last posted 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. The business had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.25 billion. Devon Energy had a return on equity of 22.52% and a net margin of 18.14%. Equities analysts anticipate that Devon Energy Co. will post 4.85 earnings per share for the current year.

Devon Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.61%. This is a positive change from Devon Energy’s previous quarterly dividend of $0.22. Devon Energy’s dividend payout ratio (DPR) is currently 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.