VIRGINIA RETIREMENT SYSTEMS ET Al Invests $3.42 Million in Devon Energy Corporation $DVN

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Devon Energy Corporation (NYSE:DVN) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 97,500 shares of the energy company’s stock, valued at approximately $3,418,000.

Several other institutional investors and hedge funds have also bought and sold shares of DVN. TD Asset Management Inc raised its position in shares of Devon Energy by 6.4% in the 2nd quarter. TD Asset Management Inc now owns 267,322 shares of the energy company’s stock valued at $8,504,000 after purchasing an additional 16,106 shares during the last quarter. Natixis raised its holdings in shares of Devon Energy by 101.4% in the second quarter. Natixis now owns 73,902 shares of the energy company’s stock worth $2,351,000 after buying an additional 37,211 shares during the last quarter. Stephens Inc. AR lifted its stake in shares of Devon Energy by 90.4% during the second quarter. Stephens Inc. AR now owns 72,546 shares of the energy company’s stock worth $2,308,000 after buying an additional 34,448 shares during the period. Scott & Selber Inc. acquired a new stake in shares of Devon Energy during the second quarter worth $2,455,000. Finally, CWM LLC increased its position in shares of Devon Energy by 70.0% in the 3rd quarter. CWM LLC now owns 336,861 shares of the energy company’s stock valued at $11,810,000 after acquiring an additional 138,717 shares during the period. 69.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on the company. Siebert Williams Shank dropped their price target on Devon Energy from $52.00 to $46.00 and set a “buy” rating on the stock in a research note on Monday, October 13th. Susquehanna increased their price target on shares of Devon Energy from $40.00 to $42.00 and gave the stock a “positive” rating in a report on Wednesday, November 12th. Citigroup lifted their price objective on shares of Devon Energy from $43.00 to $44.00 and gave the company a “buy” rating in a research note on Wednesday, December 17th. Evercore ISI increased their price objective on shares of Devon Energy from $34.00 to $37.00 and gave the stock an “in-line” rating in a research note on Monday, October 6th. Finally, Johnson Rice decreased their target price on shares of Devon Energy from $70.00 to $62.00 and set a “buy” rating for the company in a research report on Friday, December 5th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Devon Energy has a consensus rating of “Moderate Buy” and a consensus target price of $44.86.

Devon Energy Stock Down 0.4%

DVN stock opened at $36.66 on Friday. Devon Energy Corporation has a one year low of $25.89 and a one year high of $38.88. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.87 and a current ratio of 0.96. The firm’s fifty day moving average is $35.51 and its 200 day moving average is $34.42. The firm has a market cap of $23.00 billion, a PE ratio of 8.63, a P/E/G ratio of 2.78 and a beta of 0.60.

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

Devon Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 30th. Shareholders of record on Monday, December 15th were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend was Monday, December 15th. Devon Energy’s dividend payout ratio (DPR) is presently 22.59%.

Devon Energy Profile

Devon Energy Corporation (NYSE: DVN) is an independent oil and gas exploration and production company headquartered in Oklahoma City, Oklahoma. The company focuses on the exploration, development, production and marketing of hydrocarbons, including crude oil, natural gas liquids (NGLs) and natural gas. Devon operates as an upstream energy company that acquires, evaluates and develops onshore resource plays using a combination of drilling, completion and production optimization techniques.

Core business activities include identifying and developing energy reserves, operating well programs and managing reservoir performance to generate production and cash flow.