Intech Investment Management LLC Boosts Stock Holdings in Devon Energy Corporation $DVN

Intech Investment Management LLC boosted its position in Devon Energy Corporation (NYSE:DVN) by 40.0% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 39,455 shares of the energy company’s stock after purchasing an additional 11,273 shares during the period. Intech Investment Management LLC’s holdings in Devon Energy were worth $1,255,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in DVN. SVB Wealth LLC grew its stake in shares of Devon Energy by 4.1% during the 1st quarter. SVB Wealth LLC now owns 8,131 shares of the energy company’s stock worth $304,000 after acquiring an additional 321 shares during the period. Yousif Capital Management LLC raised its stake in Devon Energy by 0.4% in the 2nd quarter. Yousif Capital Management LLC now owns 87,272 shares of the energy company’s stock valued at $2,776,000 after acquiring an additional 321 shares during the period. MAS Advisors LLC lifted its holdings in Devon Energy by 4.3% during the second quarter. MAS Advisors LLC now owns 7,951 shares of the energy company’s stock valued at $253,000 after purchasing an additional 327 shares during the last quarter. Callan Family Office LLC boosted its position in Devon Energy by 3.7% during the first quarter. Callan Family Office LLC now owns 10,581 shares of the energy company’s stock worth $396,000 after purchasing an additional 377 shares during the period. Finally, Argent Trust Co increased its stake in shares of Devon Energy by 1.7% in the first quarter. Argent Trust Co now owns 23,229 shares of the energy company’s stock worth $869,000 after purchasing an additional 391 shares in the last quarter. 69.72% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on DVN shares. Weiss Ratings restated a “sell (d+)” rating on shares of Devon Energy in a research note on Wednesday. William Blair initiated coverage on shares of Devon Energy in a report on Monday, August 25th. They set an “outperform” rating on the stock. Scotiabank reaffirmed an “outperform” rating on shares of Devon Energy in a report on Thursday, October 9th. Royal Bank Of Canada set a $42.00 price target on Devon Energy and gave the company a “sector perform” rating in a research report on Friday, October 10th. Finally, Mizuho dropped their price objective on Devon Energy from $43.00 to $40.00 and set an “outperform” rating on the stock in a report on Monday, September 15th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $43.89.

Devon Energy Trading Up 1.3%

Devon Energy stock opened at $35.63 on Monday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.13 and a current ratio of 1.22. Devon Energy Corporation has a fifty-two week low of $25.89 and a fifty-two week high of $39.65. The stock has a market cap of $22.35 billion, a P/E ratio of 7.99, a PEG ratio of 2.49 and a beta of 1.01. The firm’s fifty day moving average price is $33.97 and its 200-day moving average price is $33.57.

Devon Energy (NYSE:DVN) last posted its quarterly earnings data on Wednesday, November 5th. The energy company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.11. The company had revenue of $0.00 million during the quarter, compared to analyst estimates of $4.10 billion. Devon Energy had a return on equity of 18.59% and a net margin of 16.57%.During the same quarter last year, the company earned $1.10 earnings per share. Equities research analysts forecast that Devon Energy Corporation will post 4.85 earnings per share for the current fiscal year.

Devon Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Monday, December 15th will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, December 15th. This represents a $0.96 annualized dividend and a dividend yield of 2.7%. Devon Energy’s payout ratio is presently 22.59%.

Devon Energy 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.