Board of the Pension Protection Fund Has $44,000 Stake in Devon Energy Corporation $DVN

Board of the Pension Protection Fund reduced its position in Devon Energy Corporation (NYSE:DVN) by 95.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,200 shares of the energy company’s stock after selling 23,800 shares during the period. Board of the Pension Protection Fund’s holdings in Devon Energy were worth $44,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Investors Research Corp raised its holdings in Devon Energy by 13,787.5% during the fourth quarter. Investors Research Corp now owns 27,775 shares of the energy company’s stock worth $1,017,000 after buying an additional 27,575 shares during the last quarter. Park Avenue Securities LLC grew its holdings in shares of Devon Energy by 2.4% during the fourth quarter. Park Avenue Securities LLC now owns 18,851 shares of the energy company’s stock valued at $691,000 after buying an additional 442 shares during the last quarter. Miller Global Investments LLC bought a new stake in shares of Devon Energy during the fourth quarter worth about $412,000. GAMMA Investing LLC raised its holdings in shares of Devon Energy by 4.0% in the 4th quarter. GAMMA Investing LLC now owns 30,272 shares of the energy company’s stock worth $1,109,000 after acquiring an additional 1,172 shares during the last quarter. Finally, Keel Point LLC acquired a new stake in shares of Devon Energy in the 3rd quarter worth about $308,000. Institutional investors and hedge funds own 69.72% of the company’s stock.

Devon Energy Stock Performance

NYSE:DVN opened at $48.79 on Friday. The company has a market capitalization of $30.25 billion, a price-to-earnings ratio of 11.70, a PEG ratio of 1.29 and a beta of 0.56. The business has a 50 day moving average of $42.50 and a 200 day moving average of $37.65. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.98 and a quick ratio of 0.90. Devon Energy Corporation has a 1-year low of $25.89 and a 1-year high of $49.83.

Devon Energy (NYSE:DVN) last issued its quarterly earnings results on Tuesday, February 17th. The energy company reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.01. The business had revenue of $17.19 billion for the quarter, compared to analysts’ expectations of $3.67 billion. Devon Energy had a net margin of 15.37% and a return on equity of 16.28%. The business’s quarterly revenue was down 6.4% on a year-over-year basis. During the same period last year, the business earned $1.10 earnings per share. On average, sell-side analysts predict that Devon Energy Corporation will post 4.85 earnings per share for the current fiscal year.

Devon Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 13th will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, March 13th. This represents a $0.96 annualized dividend and a dividend yield of 2.0%. Devon Energy’s dividend payout ratio (DPR) is currently 23.02%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on DVN shares. BMO Capital Markets raised their price target on shares of Devon Energy from $45.00 to $55.00 and gave the company an “outperform” rating in a research report on Tuesday, March 3rd. Weiss Ratings raised Devon Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, January 28th. Roth Mkm restated a “buy” rating and issued a $50.00 target price on shares of Devon Energy in a report on Thursday, February 19th. Johnson Rice cut their target price on Devon Energy from $70.00 to $62.00 and set a “buy” rating on the stock in a research report on Friday, December 5th. Finally, Siebert Williams Shank upped their price target on Devon Energy from $46.00 to $50.00 and gave the stock a “buy” rating in a report on Monday, January 26th. Twenty-three investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $49.37.

Devon Energy Company 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.