Devon Energy Co. (NYSE:DVN) Position Raised by O Shaughnessy Asset Management LLC

O Shaughnessy Asset Management LLC boosted its position in shares of Devon Energy Co. (NYSE:DVN) by 42.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 654,943 shares of the energy company’s stock after buying an additional 195,103 shares during the quarter. O Shaughnessy Asset Management LLC owned 0.10% of Devon Energy worth $21,436,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership boosted its holdings in Devon Energy by 8.4% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,319,188 shares of the energy company’s stock worth $43,177,000 after buying an additional 101,696 shares in the last quarter. MV Capital Management Inc. boosted its stake in shares of Devon Energy by 105.2% during the 4th quarter. MV Capital Management Inc. now owns 2,959 shares of the energy company’s stock worth $97,000 after acquiring an additional 1,517 shares in the last quarter. Allianz SE bought a new stake in shares of Devon Energy during the 4th quarter worth $849,000. Allstate Corp acquired a new stake in shares of Devon Energy during the fourth quarter worth $571,000. Finally, DnB Asset Management AS raised its position in shares of Devon Energy by 6.1% during the fourth quarter. DnB Asset Management AS now owns 125,396 shares of the energy company’s stock worth $4,104,000 after purchasing an additional 7,170 shares during the period. 69.72% of the stock is owned by institutional investors and hedge funds.

Devon Energy Price Performance

Shares of NYSE:DVN opened at $36.79 on Monday. The company has a quick ratio of 1.01, a current ratio of 1.04 and a debt-to-equity ratio of 0.57. The business has a 50 day moving average price of $35.38 and a 200 day moving average price of $36.84. The company has a market cap of $23.87 billion, a price-to-earnings ratio of 8.07, a PEG ratio of 1.20 and a beta of 1.91. Devon Energy Co. has a twelve month low of $30.39 and a twelve month high of $55.09.

Devon Energy (NYSE:DVN) last announced its quarterly earnings data 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 net margin of 18.14% and a return on equity of 22.52%. The business had revenue of $4.40 billion for the quarter, compared to the consensus estimate of $4.25 billion. Research analysts predict that Devon Energy Co. will post 4.85 earnings per share for the current year.

Devon Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.61%. This is a positive change from Devon Energy’s previous quarterly dividend of $0.22. The ex-dividend date is Friday, March 14th. Devon Energy’s payout ratio is currently 21.05%.

Analyst Ratings Changes

DVN has been the topic of a number of analyst reports. Raymond James dropped their price target on Devon Energy from $54.00 to $46.00 and set an “outperform” rating on the stock in a research note on Monday, March 10th. Barclays upped their price target 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. Morgan Stanley set a $47.00 price objective on shares of Devon Energy and gave the stock an “overweight” rating in a research report on Wednesday. Citigroup decreased their target price on Devon Energy from $48.00 to $46.00 and set a “buy” rating for the company in a research report on Monday, March 17th. Finally, Wolfe Research raised Devon Energy from a “peer perform” rating to an “outperform” rating and set a $45.00 price target on the stock in a research report on Friday, January 3rd. 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 MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $48.29.

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.