Baird Financial Group Inc. Has $4.02 Million Stock Position in Devon Energy Corporation $DVN

Baird Financial Group Inc. reduced its position in Devon Energy Corporation (NYSE:DVN) by 21.8% during the second quarter, Holdings Channel.com reports. The firm owned 126,302 shares of the energy company’s stock after selling 35,113 shares during the quarter. Baird Financial Group Inc.’s holdings in Devon Energy were worth $4,018,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Ameriprise Financial Inc. boosted its position in shares of Devon Energy by 81.1% during the first quarter. Ameriprise Financial Inc. now owns 5,029,987 shares of the energy company’s stock valued at $188,131,000 after buying an additional 2,252,918 shares during the last quarter. Nuveen LLC bought a new stake in Devon Energy in the 1st quarter worth about $69,975,000. AQR Capital Management LLC increased its stake in Devon Energy by 100.0% in the 1st quarter. AQR Capital Management LLC now owns 3,558,362 shares of the energy company’s stock valued at $132,051,000 after buying an additional 1,779,382 shares during the last quarter. Encompass Capital Advisors LLC purchased a new stake in Devon Energy in the 1st quarter valued at about $63,561,000. Finally, Prudential Financial Inc. lifted its position in shares of Devon Energy by 93.4% during the 2nd quarter. Prudential Financial Inc. now owns 1,506,329 shares of the energy company’s stock worth $47,916,000 after buying an additional 727,532 shares in the last quarter. Institutional investors and hedge funds own 69.72% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on DVN. Morgan Stanley reduced their target price on Devon Energy from $49.00 to $47.00 and set an “overweight” rating for the company in a report on Tuesday, October 14th. Wells Fargo & Company reduced their price objective on Devon Energy from $43.00 to $37.00 and set an “overweight” rating for the company in a research note on Friday, October 17th. BMO Capital Markets decreased their target price on Devon Energy from $51.00 to $50.00 in a research report on Tuesday, November 11th. Sanford C. Bernstein lifted their target price on Devon Energy from $43.00 to $48.00 and gave the stock an “outperform” rating in a research note on Friday, November 21st. Finally, Royal Bank Of Canada set a $42.00 price target on shares of Devon Energy and gave the company a “sector perform” rating in a research report on Friday, October 10th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $44.55.

Devon Energy Trading Up 2.7%

Shares of DVN stock opened at $38.39 on Thursday. The stock has a market capitalization of $24.08 billion, a price-to-earnings ratio of 9.03, a PEG ratio of 2.88 and a beta of 0.62. The company’s fifty day simple moving average is $34.52 and its two-hundred day simple moving average is $33.97. Devon Energy Corporation has a 1 year low of $25.89 and a 1 year high of $38.88. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.96 and a quick ratio of 0.87.

Devon Energy (NYSE:DVN) last posted its quarterly earnings results on Wednesday, November 5th. The energy company reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.11. Devon Energy had a return on equity of 18.14% and a net margin of 15.56%.The firm had revenue of $0.00 million during the quarter, compared to analyst estimates of $4.10 billion. During the same period last year, the company earned $1.10 earnings per share. As a group, analysts anticipate that Devon Energy Corporation will post 4.85 earnings per share for the current year.

Devon Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Monday, December 15th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend is Monday, December 15th. Devon Energy’s payout ratio is presently 22.59%.

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.