Foundation Resource Management Inc. lifted its position in shares of Devon Energy Corp (NYSE:DVN) by 23.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 46,323 shares of the energy company’s stock after purchasing an additional 8,910 shares during the period. Foundation Resource Management Inc.’s holdings in Devon Energy were worth $1,918,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently made changes to their positions in the company. Sun Life Financial INC lifted its stake in Devon Energy by 32,058.3% in the second quarter. Sun Life Financial INC now owns 3,859 shares of the energy company’s stock valued at $123,000 after buying an additional 3,847 shares during the period. FNY Managed Accounts LLC acquired a new position in shares of Devon Energy during the third quarter worth approximately $134,000. Fiduciary Trust Co. acquired a new position in shares of Devon Energy during the second quarter worth approximately $144,000. FUKOKU MUTUAL LIFE INSURANCE Co raised its position in shares of Devon Energy by 67.6% during the second quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 5,700 shares of the energy company’s stock worth $182,000 after purchasing an additional 2,300 shares during the period. Finally, Steward Partners Investment Advisory LLC acquired a new position in shares of Devon Energy during the third quarter worth approximately $183,000. Institutional investors and hedge funds own 77.49% of the company’s stock.
Devon Energy Corp (NYSE:DVN) traded down $0.78 during trading hours on Wednesday, hitting $43.26. The company’s stock had a trading volume of 5,634,800 shares, compared to its average volume of 4,969,890. Devon Energy Corp has a 1 year low of $28.79 and a 1 year high of $47.82. The stock has a market cap of $22,650.00, a PE ratio of 14.71, a P/E/G ratio of 2.62 and a beta of 2.21. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 0.87.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Thursday, March 15th will be given a $0.06 dividend. The ex-dividend date is Wednesday, March 14th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.55%. Devon Energy’s dividend payout ratio is currently 8.16%.
In other news, EVP Lyndon C. Taylor sold 12,798 shares of Devon Energy stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $38.29, for a total value of $490,035.42. Following the sale, the executive vice president now directly owns 67,900 shares in the company, valued at approximately $2,599,891. The sale was disclosed in a filing with the SEC, which is available through this link. 0.51% of the stock is currently owned by company insiders.
DVN has been the topic of a number of research reports. Cowen reaffirmed a “buy” rating and set a $40.00 target price on shares of Devon Energy in a research report on Thursday, September 28th. Stifel Nicolaus set a $66.00 price target on Devon Energy and gave the company a “buy” rating in a research report on Thursday, October 5th. Jefferies Group upgraded Devon Energy from a “hold” rating to a “buy” rating and set a $43.00 price objective for the company in a research note on Monday, October 9th. BMO Capital Markets set a $45.00 price objective on Devon Energy and gave the company a “buy” rating in a research note on Tuesday, October 10th. Finally, Morgan Stanley upped their price objective on Devon Energy from $42.00 to $48.00 and gave the company an “overweight” rating in a research note on Wednesday, October 18th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $45.82.
Devon Energy Company Profile
Devon Energy Corporation is an independent energy company. The Company also controls EnLink Midstream Partners, L.P. (EnLink). The Company’s segments include U.S., Canada and EnLink. The Company is engaged primarily in the exploration, development and production of oil, natural gas and natural gas liquids (NGLs).
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