Devon Energy Co. (NYSE:DVN) Shares Bought by Aster Capital Management DIFC Ltd

Aster Capital Management DIFC Ltd grew its holdings in Devon Energy Co. (NYSE:DVN) by 214.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,161 shares of the energy company’s stock after purchasing an additional 27,375 shares during the quarter. Aster Capital Management DIFC Ltd’s holdings in Devon Energy were worth $1,314,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Peapack Gladstone Financial Corp increased its position in Devon Energy by 6.3% during the fourth quarter. Peapack Gladstone Financial Corp now owns 146,063 shares of the energy company’s stock worth $4,780,000 after buying an additional 8,636 shares in the last quarter. Titleist Asset Management LLC boosted its stake in shares of Devon Energy by 4.2% during the fourth quarter. Titleist Asset Management LLC now owns 15,911 shares of the energy company’s stock valued at $521,000 after acquiring an additional 643 shares during the last quarter. Russell Investments Group Ltd. increased its position in Devon Energy by 25.1% during the 4th quarter. Russell Investments Group Ltd. now owns 865,999 shares of the energy company’s stock worth $28,342,000 after purchasing an additional 173,580 shares in the last quarter. Hurley Capital LLC acquired a new position in Devon Energy in the 4th quarter valued at about $26,000. Finally, Payden & Rygel lifted its holdings in Devon Energy by 968.6% in the 4th quarter. Payden & Rygel now owns 37,400 shares of the energy company’s stock valued at $1,224,000 after purchasing an additional 33,900 shares in the last quarter. 69.72% of the stock is owned by hedge funds and other institutional investors.

Devon Energy Stock Performance

Shares of DVN stock opened at $29.30 on Friday. 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 company’s fifty day moving average price is $35.22 and its two-hundred day moving average price is $36.70. The firm has a market capitalization of $19.01 billion, a P/E ratio of 6.42, a P/E/G ratio of 1.20 and a beta of 1.50. Devon Energy Co. has a 12 month low of $29.06 and a 12 month high of $55.09.

Devon Energy (NYSE:DVN) last released its quarterly earnings results on Tuesday, February 18th. The energy company reported $1.16 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 business had revenue of $4.40 billion for the quarter, compared to analysts’ expectations of $4.25 billion. On average, research analysts anticipate that Devon Energy Co. will post 4.85 earnings per share for the current fiscal year.

Devon Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were paid a dividend of $0.24 per share. This is a boost from Devon Energy’s previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a dividend yield of 3.28%. The ex-dividend date of this dividend was Friday, March 14th. Devon Energy’s dividend payout ratio is 21.05%.

Analysts Set New Price Targets

DVN has been the subject of a number of recent research reports. Benchmark reiterated a “buy” rating and set a $44.00 price target on shares of Devon Energy in a report on Thursday, February 20th. Citigroup lowered their target price on shares of Devon Energy from $46.00 to $43.00 and set a “buy” rating for the company in a research note on Friday. Royal Bank of Canada reissued a “sector perform” rating and set a $50.00 price target on shares of Devon Energy in a research note on Friday, January 10th. Wolfe Research raised Devon Energy from a “peer perform” rating to an “outperform” rating and set a $45.00 price objective for the company in a research report on Friday, January 3rd. Finally, JPMorgan Chase & Co. reduced 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. Ten analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $48.17.

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.