Fisher Asset Management LLC Cuts Stock Position in Devon Energy Co. (NYSE:DVN)

Fisher Asset Management LLC decreased its position in shares of Devon Energy Co. (NYSE:DVN) by 4.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 120,437 shares of the energy company’s stock after selling 5,244 shares during the period. Fisher Asset Management LLC’s holdings in Devon Energy were worth $3,942,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Capital Performance Advisors LLP purchased a new stake in shares of Devon Energy during the 3rd quarter valued at $35,000. Cromwell Holdings LLC grew its stake in Devon Energy by 98.0% during the 4th quarter. Cromwell Holdings LLC now owns 1,208 shares of the energy company’s stock worth $40,000 after buying an additional 598 shares during the last quarter. Sierra Ocean LLC acquired a new position in Devon Energy during the 4th quarter valued at about $43,000. True Wealth Design LLC raised its stake in Devon Energy by 3,889.3% in the third quarter. True Wealth Design LLC now owns 1,117 shares of the energy company’s stock valued at $44,000 after buying an additional 1,089 shares during the last quarter. Finally, Hazlett Burt & Watson Inc. boosted its holdings in Devon Energy by 29.8% in the third quarter. Hazlett Burt & Watson Inc. now owns 1,263 shares of the energy company’s stock worth $49,000 after acquiring an additional 290 shares in the last quarter. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Devon Energy Trading Down 0.5 %

Shares of Devon Energy stock opened at $34.23 on Wednesday. The firm has a 50-day simple moving average of $35.07 and a two-hundred day simple moving average of $37.85. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.01 and a current ratio of 1.04. Devon Energy Co. has a fifty-two week low of $30.39 and a fifty-two week high of $55.09. The company has a market cap of $22.21 billion, a P/E ratio of 7.51, a price-to-earnings-growth ratio of 1.20 and a beta of 1.98.

Devon Energy (NYSE:DVN) last released its quarterly earnings results on Tuesday, February 18th. The energy company reported $1.16 earnings per share 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 company had revenue of $4.40 billion during the quarter, compared to analysts’ expectations of $4.25 billion. As a group, equities 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 declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a $0.24 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.96 dividend on an annualized basis and a yield of 2.80%. This is a boost from Devon Energy’s previous quarterly dividend of $0.22. Devon Energy’s dividend payout ratio (DPR) is currently 21.05%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. TD Cowen cut their price objective on shares of Devon Energy from $54.00 to $46.00 and set a “hold” rating on the stock in a report on Tuesday, November 5th. Royal Bank of Canada restated a “sector perform” rating and set a $50.00 price target on shares of Devon Energy in a research note on Friday, January 10th. Citigroup lowered their price objective on shares of Devon Energy from $55.00 to $48.00 and set a “buy” rating for the company in a research note on Tuesday, November 26th. Wolfe Research raised Devon Energy from a “peer perform” rating to an “outperform” rating and set a $45.00 target price on the stock in a research report on Friday, January 3rd. Finally, Cowen cut Devon Energy to a “hold” rating and lowered their price target for the stock from $46.00 to $45.00 in a research report on Tuesday, February 18th. Ten equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, Devon Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $48.87.

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.