751 Shares in Devon Energy Co. (NYSE:DVN) Acquired by Hurley Capital LLC

Hurley Capital LLC acquired a new stake in Devon Energy Co. (NYSE:DVN) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 751 shares of the energy company’s stock, valued at approximately $26,000.

Other large investors have also bought and sold shares of the company. Cromwell Holdings LLC increased its holdings in Devon Energy by 98.0% in the 4th 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 position in shares of Devon Energy in the fourth quarter worth about $43,000. Endeavor Private Wealth Inc. bought a new stake in shares of Devon Energy in the fourth quarter valued at approximately $52,000. Thompson Investment Management Inc. lifted its stake in shares of Devon Energy by 60.0% during the 4th quarter. Thompson Investment Management Inc. now owns 1,600 shares of the energy company’s stock valued at $52,000 after buying an additional 600 shares in the last quarter. Finally, Asset Planning Inc bought a new position in Devon Energy in the 4th quarter worth approximately $54,000. 69.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. JPMorgan Chase & Co. dropped their target price 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. Wells Fargo & Company dropped their price objective on Devon Energy from $49.00 to $43.00 and set an “overweight” rating on the stock in a report on Tuesday, December 17th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $50.00 target price on shares of Devon Energy in a report on Friday, January 10th. Mizuho lowered their price target on shares of Devon Energy from $51.00 to $47.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. Finally, Barclays raised their price objective on shares of Devon Energy from $43.00 to $44.00 and gave the company an “equal weight” rating in a research report on Thursday, February 20th. Ten investment 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 has an average rating of “Moderate Buy” and a consensus price target of $48.17.

Devon Energy Stock Performance

Devon Energy stock opened at $29.30 on Friday. The firm has a fifty day simple moving average of $35.22 and a two-hundred day simple moving average of $36.70. Devon Energy Co. has a twelve month low of $29.06 and a twelve month high of $55.09. The company has a market capitalization of $19.01 billion, a PE ratio of 6.42, a P/E/G ratio of 1.20 and a beta of 1.50. 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 (NYSE:DVN) last issued its earnings results on Tuesday, February 18th. The energy company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.16. The company had revenue of $4.40 billion during the quarter, compared to analysts’ expectations of $4.25 billion. Devon Energy had a return on equity of 22.52% and a net margin of 18.14%. Research analysts expect that Devon Energy Co. will post 4.85 EPS for the current year.

Devon Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 3.28%. This is an increase from Devon Energy’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Friday, March 14th. Devon Energy’s payout ratio 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.