Speece Thorson Capital Group Inc. increased its stake in Devon Energy Co. (NYSE:DVN - Free Report) by 17.6% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 329,123 shares of the energy company's stock after acquiring an additional 49,176 shares during the quarter. Devon Energy accounts for approximately 2.4% of Speece Thorson Capital Group Inc.'s portfolio, making the stock its 22nd largest position. Speece Thorson Capital Group Inc. owned approximately 0.05% of Devon Energy worth $12,875,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of DVN. Vanguard Group Inc. increased its stake in Devon Energy by 3.5% during the 1st quarter. Vanguard Group Inc. now owns 76,457,056 shares of the energy company's stock valued at $3,836,615,000 after purchasing an additional 2,559,039 shares in the last quarter. Victory Capital Management Inc. increased its stake in Devon Energy by 3.8% during the 3rd quarter. Victory Capital Management Inc. now owns 9,971,343 shares of the energy company's stock valued at $390,079,000 after purchasing an additional 361,968 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in Devon Energy by 16.8% during the 2nd quarter. Pacer Advisors Inc. now owns 9,913,516 shares of the energy company's stock worth $469,901,000 after acquiring an additional 1,428,776 shares during the last quarter. Raymond James & Associates boosted its holdings in Devon Energy by 1.5% during the 2nd quarter. Raymond James & Associates now owns 9,183,778 shares of the energy company's stock worth $435,311,000 after acquiring an additional 138,919 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Devon Energy by 16.7% during the 2nd 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. Institutional investors own 69.72% of the company's stock.
A number of equities analysts have issued reports on DVN shares. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $57.00 price objective on shares of Devon Energy in a report on Tuesday, September 3rd. StockNews.com downgraded shares of Devon Energy from a "hold" rating to a "sell" rating in a report on Thursday, November 7th. JPMorgan Chase & Co. cut their price objective on shares of Devon Energy from $64.00 to $51.00 and set an "overweight" rating on the stock in a report on Thursday, September 12th. BMO Capital Markets cut their price objective on shares of Devon Energy from $52.00 to $48.00 and set an "outperform" rating on the stock in a report on Friday, October 4th. Finally, Mizuho cut their price objective on shares of Devon Energy from $53.00 to $51.00 and set an "outperform" rating on the stock in a report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $51.80.
View Our Latest Stock Report on Devon Energy
NYSE DVN traded down $0.25 during trading on Wednesday, hitting $38.09. 1,549,285 shares of the company's stock traded hands, compared to its average volume of 7,414,557. The stock has a market capitalization of $25.02 billion, a price-to-earnings ratio of 7.11, a PEG ratio of 1.21 and a beta of 2.03. Devon Energy Co. has a 12-month low of $37.76 and a 12-month high of $55.09. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.11. The business has a 50 day moving average of $40.27 and a 200-day moving average of $44.59.
Devon Energy (NYSE:DVN - Get Free Report) last announced its quarterly 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. Devon Energy had a return on equity of 24.73% and a net margin of 21.71%. The firm had revenue of $4.02 billion for the quarter, compared to analysts' expectations of $3.72 billion. During the same period in the prior year, the business posted $1.65 earnings per share. The company's revenue was up 4.9% on a year-over-year basis. As a group, equities research analysts anticipate that Devon Energy Co. will post 4.86 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.31%. The ex-dividend date is Friday, December 13th. Devon Energy's dividend payout ratio is presently 16.33%.
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.
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