Brandywine Global Investment Management LLC grew its position in shares of Devon Energy Corp (NYSE:DVN) by 4.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,660,061 shares of the energy company’s stock after purchasing an additional 150,609 shares during the period. Brandywine Global Investment Management LLC owned approximately 0.78% of Devon Energy worth $82,498,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Winslow Evans & Crocker Inc. acquired a new stake in shares of Devon Energy in the fourth quarter valued at $26,000. Lindbrook Capital LLC acquired a new stake in shares of Devon Energy in the fourth quarter valued at $26,000. Duncker Streett & Co. Inc. raised its stake in shares of Devon Energy by 40.5% in the fourth quarter. Duncker Streett & Co. Inc. now owns 1,600 shares of the energy company’s stock valued at $36,000 after acquiring an additional 461 shares in the last quarter. Oregon Public Employees Retirement Fund raised its stake in shares of Devon Energy by 2,129.2% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,274,907 shares of the energy company’s stock valued at $57,000 after acquiring an additional 1,217,716 shares in the last quarter. Finally, Quattro Financial Advisors LLC acquired a new stake in shares of Devon Energy in the fourth quarter valued at $65,000. Institutional investors own 80.74% of the company’s stock.
Several analysts have recently issued reports on the company. ValuEngine upgraded Devon Energy from a “sell” rating to a “hold” rating in a research note on Friday. Zacks Investment Research cut Devon Energy from a “hold” rating to a “sell” rating in a research note on Thursday, March 7th. Royal Bank of Canada cut Devon Energy from an “outperform” rating to a “sector perform” rating and cut their price target for the company from $39.00 to $38.00 in a research note on Friday, March 1st. MKM Partners raised their price target on Devon Energy from $33.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday, February 21st. Finally, TheStreet upgraded Devon Energy from a “d+” rating to a “c+” rating in a research note on Tuesday, February 19th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and fifteen have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $45.48.
In other news, Director Robert H. Henry acquired 11,651 shares of the company’s stock in a transaction on Wednesday, February 27th. The shares were bought at an average price of $30.01 per share, with a total value of $349,646.51. Following the completion of the acquisition, the director now owns 21,355 shares in the company, valued at approximately $640,863.55. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.55% of the company’s stock.
Shares of DVN stock opened at $29.64 on Friday. The stock has a market cap of $12.99 billion, a price-to-earnings ratio of 22.98, a PEG ratio of 1.76 and a beta of 2.25. Devon Energy Corp has a 1 year low of $20.37 and a 1 year high of $46.54. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.99 and a current ratio of 1.99.
Devon Energy (NYSE:DVN) last issued its quarterly earnings data on Tuesday, February 19th. The energy company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.21). The firm had revenue of $3.71 billion for the quarter, compared to analysts’ expectations of $1.97 billion. Devon Energy had a return on equity of 5.73% and a net margin of 24.82%. During the same period in the previous year, the business posted $0.38 EPS. Analysts predict that Devon Energy Corp will post 1.23 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be issued a dividend of $0.09 per share. This is a positive change from Devon Energy’s previous quarterly dividend of $0.08. The ex-dividend date is Thursday, June 13th. This represents a $0.36 annualized dividend and a dividend yield of 1.21%. Devon Energy’s dividend payout ratio (DPR) is presently 24.81%.
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Devon Energy Company Profile
Devon Energy Corporation, an independent energy company, primarily engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States and Canada. It operates approximately 12,900 gross wells. The company was founded in 1971 and is headquartered in Oklahoma City, Oklahoma.
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