Keybank National Association OH Buys 2,038 Shares of Devon Energy Co. (NYSE:DVN)

Keybank National Association OH raised its stake in shares of Devon Energy Co. (NYSE:DVN) by 19.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 12,641 shares of the energy company’s stock after acquiring an additional 2,038 shares during the quarter. Keybank National Association OH’s holdings in Devon Energy were worth $414,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Geode Capital Management LLC lifted its holdings in shares of Devon Energy by 1.3% during the third quarter. Geode Capital Management LLC now owns 15,892,970 shares of the energy company’s stock valued at $619,747,000 after acquiring an additional 206,884 shares during the period. EnCap Energy Capital Fund XI L.P. bought a new position in shares of Devon Energy during the third quarter valued at $461,857,000. Pacer Advisors Inc. lifted its holdings in shares of Devon Energy by 16.9% during the third quarter. Pacer Advisors Inc. now owns 11,591,168 shares of the energy company’s stock valued at $453,446,000 after acquiring an additional 1,677,652 shares during the period. EnCap Partners GP LLC bought a new position in shares of Devon Energy during the third quarter valued at $408,653,000. Finally, Victory Capital Management Inc. lifted 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 period. 69.72% of the stock is owned by institutional investors.

Devon Energy Price Performance

Shares of DVN opened at $34.74 on Monday. The company has a current ratio of 1.04, a quick ratio of 1.01 and a debt-to-equity ratio of 0.57. Devon Energy Co. has a 1 year low of $30.39 and a 1 year high of $55.09. The stock has a market cap of $22.54 billion, a P/E ratio of 7.62, a price-to-earnings-growth ratio of 1.20 and a beta of 1.91. The stock’s 50-day moving average price is $35.24 and its two-hundred day moving average price is $37.63.

Devon Energy (NYSE:DVN) last issued its earnings results on Tuesday, February 18th. The energy company reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.16. Devon Energy had a return on equity of 22.52% and a net margin of 18.14%. The firm had revenue of $4.40 billion for the quarter, compared to analysts’ expectations of $4.25 billion. On average, equities analysts predict that Devon Energy Co. will post 4.85 earnings per share for the current year.

Devon Energy Increases Dividend

The firm 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 dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.76%. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from Devon Energy’s previous quarterly dividend of $0.22. Devon Energy’s payout ratio is 21.05%.

Analyst Upgrades and Downgrades

DVN has been the subject of a number of research reports. Wells Fargo & Company lowered their target price on Devon Energy from $49.00 to $43.00 and set an “overweight” rating for the company in a research note on Tuesday, December 17th. Benchmark restated a “buy” rating and issued a $44.00 target price on shares of Devon Energy in a research note on Thursday, February 20th. Wolfe Research upgraded Devon Energy from a “peer perform” rating to an “outperform” rating and set a $45.00 target price for the company in a research note on Friday, January 3rd. Royal Bank of Canada restated a “sector perform” rating and issued a $50.00 target price on shares of Devon Energy in a research note on Friday, January 10th. Finally, Citigroup lowered their target price on Devon Energy from $55.00 to $48.00 and set a “buy” rating for the company in a research note on Tuesday, November 26th. Ten investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, Devon Energy presently has an average rating of “Moderate Buy” and a consensus price target of $48.87.

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.