Devon Energy Co. (NYSE:DVN) Shares Purchased by Fiduciary Trust Co

Fiduciary Trust Co boosted its stake in shares of Devon Energy Co. (NYSE:DVN) by 3.1% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 11,074 shares of the energy company’s stock after acquiring an additional 329 shares during the period. Fiduciary Trust Co’s holdings in Devon Energy were worth $433,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Pacer Advisors Inc. raised its position in shares of Devon Energy by 16.9% during the 3rd quarter. Pacer Advisors Inc. now owns 11,591,168 shares of the energy company’s stock worth $453,446,000 after purchasing an additional 1,677,652 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of Devon Energy by 3.8% during the third quarter. Victory Capital Management Inc. now owns 9,971,343 shares of the energy company’s stock valued at $390,079,000 after acquiring an additional 361,968 shares during the last quarter. Raymond James & Associates lifted its position in shares of Devon Energy by 1.5% in the second quarter. Raymond James & Associates now owns 9,183,778 shares of the energy company’s stock valued at $435,311,000 after acquiring an additional 138,919 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Devon Energy by 16.7% in the second quarter. Dimensional Fund Advisors LP now owns 8,793,217 shares of the energy company’s stock worth $416,779,000 after acquiring an additional 1,255,543 shares during the last quarter. Finally, Smead Capital Management Inc. increased its position in shares of Devon Energy by 3.5% during the third quarter. Smead Capital Management Inc. now owns 5,879,516 shares of the energy company’s stock worth $230,007,000 after purchasing an additional 198,193 shares in the last quarter. 69.72% of the stock is owned by hedge funds and other institutional investors.

Devon Energy Price Performance

Shares of DVN opened at $37.95 on Friday. The firm has a 50-day simple moving average of $39.68 and a two-hundred day simple moving average of $43.56. The stock has a market cap of $24.93 billion, a PE ratio of 7.04, a P/E/G ratio of 1.20 and a beta of 2.03. Devon Energy Co. has a 1-year low of $37.28 and a 1-year high of $55.09. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.11 and a quick ratio of 1.01.

Devon Energy (NYSE:DVN) last posted its earnings results on Tuesday, November 5th. The energy company reported $1.10 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.01. The firm had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $3.72 billion. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.65 EPS. As a group, analysts forecast that Devon Energy Co. will post 4.79 EPS for the current year.

Devon Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.32%. Devon Energy’s payout ratio is presently 16.33%.

Analyst Upgrades and Downgrades

DVN has been the topic of a number of research reports. Mizuho decreased their price objective on Devon Energy from $53.00 to $51.00 and set an “outperform” rating on the stock in a report on Wednesday, October 9th. JPMorgan Chase & Co. decreased their price target on shares of Devon Energy from $64.00 to $51.00 and set an “overweight” rating on the stock in a research note on Thursday, September 12th. BMO Capital Markets dropped their price objective on shares of Devon Energy from $52.00 to $48.00 and set an “outperform” rating for the company in a research note on Friday, October 4th. Raymond James decreased their target price on shares of Devon Energy from $58.00 to $51.00 in a research note on Tuesday, November 5th. Finally, Wells Fargo & Company dropped their price target on Devon Energy from $50.00 to $49.00 and set an “overweight” rating for the company in a research report on Thursday, November 7th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, Devon Energy presently has a consensus rating of “Hold” and a consensus price target of $51.15.

About Devon Energy

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.