Natixis Advisors L.P. Has $10 Million Holdings in Devon Energy Co. (NYSE:DVN)

Natixis Advisors L.P. raised its position in Devon Energy Co. (NYSE:DVN) by 31.7% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 220,708 shares of the energy company’s stock after purchasing an additional 53,096 shares during the quarter. Natixis Advisors L.P.’s holdings in Devon Energy were worth $9,998,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Lord Abbett & CO. LLC raised its stake in shares of Devon Energy by 15.5% in the third quarter. Lord Abbett & CO. LLC now owns 549,710 shares of the energy company’s stock worth $26,221,000 after acquiring an additional 73,570 shares during the last quarter. Nordea Investment Management AB raised its stake in shares of Devon Energy by 2.7% in the third quarter. Nordea Investment Management AB now owns 373,757 shares of the energy company’s stock worth $17,974,000 after acquiring an additional 9,823 shares during the last quarter. Atria Investments Inc raised its stake in shares of Devon Energy by 64.4% in the third quarter. Atria Investments Inc now owns 54,639 shares of the energy company’s stock worth $2,606,000 after acquiring an additional 21,400 shares during the last quarter. Pearl River Capital LLC raised its stake in shares of Devon Energy by 367.7% during the third quarter. Pearl River Capital LLC now owns 75,042 shares of the energy company’s stock worth $3,580,000 after buying an additional 58,997 shares during the last quarter. Finally, Argent Trust Co raised its stake in shares of Devon Energy by 22.1% during the third quarter. Argent Trust Co now owns 86,795 shares of the energy company’s stock worth $4,140,000 after buying an additional 15,715 shares during the last quarter. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Devon Energy Stock Performance

Shares of DVN opened at $50.56 on Thursday. Devon Energy Co. has a 12 month low of $40.47 and a 12 month high of $55.09. The firm has a fifty day simple moving average of $50.02 and a 200 day simple moving average of $46.31. The stock has a market capitalization of $31.95 billion, a price-to-earnings ratio of 9.65 and a beta of 2.16. The company has a current ratio of 1.04, a quick ratio of 0.97 and a debt-to-equity ratio of 0.46.

Devon Energy (NYSE:DVN) last announced its earnings results on Wednesday, May 1st. The energy company reported $1.16 EPS for the quarter, topping the consensus estimate of $1.10 by $0.06. Devon Energy had a net margin of 22.27% and a return on equity of 29.02%. The business had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.64 billion. During the same quarter in the prior year, the company posted $1.46 earnings per share. The firm’s revenue was down 5.9% on a year-over-year basis. Research analysts forecast that Devon Energy Co. will post 5.24 EPS for the current fiscal year.

Devon Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.74%. The ex-dividend date of this dividend is Friday, June 14th. Devon Energy’s payout ratio is 16.79%.

Insiders Place Their Bets

In other Devon Energy news, EVP Tana K. Cashion sold 20,000 shares of the company’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $51.04, for a total transaction of $1,020,800.00. Following the sale, the executive vice president now directly owns 104,182 shares of the company’s stock, valued at $5,317,449.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.63% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on DVN. Scotiabank boosted their price target on shares of Devon Energy from $53.00 to $67.00 and gave the stock a “sector outperform” rating in a research note on Thursday, April 11th. Mizuho boosted their price target on shares of Devon Energy from $53.00 to $57.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. StockNews.com raised shares of Devon Energy from a “hold” rating to a “buy” rating in a research note on Friday, May 3rd. JPMorgan Chase & Co. boosted their price target on shares of Devon Energy from $57.00 to $62.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. Finally, Stifel Nicolaus boosted their price target on shares of Devon Energy from $65.00 to $66.00 and gave the stock a “buy” rating in a research note on Tuesday, April 23rd. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $58.44.

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.