Smartleaf Asset Management LLC Acquires 1,045 Shares of Devon Energy Co. (NYSE:DVN)

Smartleaf Asset Management LLC increased its holdings in shares of Devon Energy Co. (NYSE:DVN) by 34.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,057 shares of the energy company’s stock after acquiring an additional 1,045 shares during the period. Smartleaf Asset Management LLC’s holdings in Devon Energy were worth $130,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Bridgewater Associates LP acquired a new position in Devon Energy during the 3rd quarter worth $9,426,000. Legacy Investment Solutions LLC acquired a new position in shares of Devon Energy in the 3rd quarter valued at $8,002,000. Petrus Trust Company LTA lifted its stake in shares of Devon Energy by 394.7% in the 3rd quarter. Petrus Trust Company LTA now owns 21,827 shares of the energy company’s stock valued at $854,000 after purchasing an additional 17,415 shares during the period. CIBC Asset Management Inc lifted its stake in shares of Devon Energy by 6.3% in the 3rd quarter. CIBC Asset Management Inc now owns 107,182 shares of the energy company’s stock valued at $4,193,000 after purchasing an additional 6,358 shares during the period. Finally, Smead Capital Management Inc. lifted its stake in shares of Devon Energy by 3.5% in the 3rd quarter. Smead Capital Management Inc. now owns 5,879,516 shares of the energy company’s stock valued at $230,007,000 after purchasing an additional 198,193 shares during the period. 69.72% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

DVN has been the topic of a number of analyst reports. Sanford C. Bernstein raised Devon Energy from a “market perform” rating to an “outperform” rating and set a $45.00 price target on the stock in a research note on Wednesday, January 15th. Cowen downgraded Devon Energy to a “hold” rating and cut their price target for the company from $46.00 to $45.00 in a research note on Tuesday, February 18th. Mizuho cut their price target on Devon Energy from $51.00 to $47.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. Raymond James upped their price objective on shares of Devon Energy from $53.00 to $54.00 and gave the company an “outperform” rating in a research report on Thursday, January 23rd. Finally, Wells Fargo & Company lowered their price objective on shares of Devon Energy from $49.00 to $43.00 and set an “overweight” rating for the company in a research report on Tuesday, December 17th. Ten analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $48.87.

Devon Energy Price Performance

Shares of NYSE DVN opened at $34.74 on Friday. The stock has a market capitalization of $22.54 billion, a price-to-earnings ratio of 7.62, a PEG ratio of 1.20 and a beta of 1.91. The business has a 50-day moving average of $35.17 and a 200-day moving average of $37.79. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 1.01. Devon Energy Co. has a fifty-two week low of $30.39 and a fifty-two week high of $55.09.

Devon Energy (NYSE:DVN) last announced its quarterly earnings data on Tuesday, February 18th. The energy company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.16. The company had revenue of $4.40 billion during the quarter, compared to analysts’ expectations of $4.25 billion. Devon Energy had a return on equity of 22.52% and a net margin of 18.14%. As a group, sell-side analysts predict that Devon Energy Co. will post 4.85 earnings per share for the current fiscal year.

Devon Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a $0.24 dividend. This is a boost from Devon Energy’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.96 annualized dividend and a dividend yield of 2.76%. Devon Energy’s dividend payout ratio (DPR) is presently 21.05%.

Devon Energy Company 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.