California State Teachers Retirement System Has $17.27 Million Holdings in Devon Energy Corp (DVN)
California State Teachers Retirement System lowered its position in Devon Energy Corp (NYSE:DVN) by 8.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 766,044 shares of the energy company’s stock after selling 73,780 shares during the quarter. California State Teachers Retirement System owned about 0.16% of Devon Energy worth $17,267,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently made changes to their positions in the company. Winslow Evans & Crocker Inc. bought a new position in shares of Devon Energy in the fourth quarter valued at approximately $26,000. Lindbrook Capital LLC bought a new position in shares of Devon Energy in the fourth quarter valued at approximately $26,000. Duncker Streett & Co. Inc. boosted its holdings 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 boosted its holdings 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 bought a new position in shares of Devon Energy in the fourth quarter valued at approximately $65,000. Institutional investors own 80.74% of the company’s stock.
In other news, Director Robert H. Henry acquired 11,651 shares of the firm’s stock in a transaction that occurred on Wednesday, February 27th. The stock was purchased at an average price of $30.01 per share, with a total value of $349,646.51. Following the purchase, the director now owns 21,355 shares of the company’s stock, valued at approximately $640,863.55. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.55% of the company’s stock.
Devon Energy (NYSE:DVN) last posted its quarterly earnings data on Tuesday, February 19th. The energy company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.21). Devon Energy had a return on equity of 5.73% and a net margin of 24.82%. The firm had revenue of $3.71 billion during the quarter, compared to analyst estimates of $1.97 billion. During the same period in the prior year, the business posted $0.38 EPS. Equities analysts forecast that Devon Energy Corp will post 1.23 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be paid a $0.09 dividend. 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 dividend on an annualized basis and a yield of 1.21%. Devon Energy’s dividend payout ratio (DPR) is currently 24.81%.
Several research firms have recently issued reports on DVN. Mizuho set a $31.00 price objective on shares of Devon Energy and gave the company a “hold” rating in a report on Wednesday, November 28th. Barclays cut shares of Devon Energy from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $42.00 to $33.00 in a report on Wednesday, January 16th. TheStreet upgraded shares of Devon Energy from a “d+” rating to a “c+” rating in a report on Tuesday, February 19th. ValuEngine upgraded shares of Devon Energy from a “sell” rating to a “hold” rating in a report on Friday, February 22nd. Finally, Stephens began coverage on shares of Devon Energy in a report on Thursday, December 6th. They issued an “overweight” rating and a $50.00 price objective for the company. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and fifteen have given a buy rating to the company’s stock. Devon Energy currently has an average rating of “Hold” and an average price target of $45.48.
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Devon Energy 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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