Signaturefd LLC Buys 1,459 Shares of Devon Energy Co. (NYSE:DVN)

Signaturefd LLC boosted its stake in shares of Devon Energy Co. (NYSE:DVN) by 10.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,765 shares of the energy company’s stock after buying an additional 1,459 shares during the period. Signaturefd LLC’s holdings in Devon Energy were worth $714,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in DVN. Pacer Advisors Inc. increased its position in Devon Energy by 1,279.7% during the 4th quarter. Pacer Advisors Inc. now owns 6,145,605 shares of the energy company’s stock valued at $278,396,000 after buying an additional 5,700,167 shares in the last quarter. J.P. Morgan Private Wealth Advisors LLC purchased a new stake in Devon Energy during the 3rd quarter valued at $113,793,000. Morgan Stanley boosted its stake in Devon Energy by 23.6% during the 3rd quarter. Morgan Stanley now owns 11,647,104 shares of the energy company’s stock valued at $555,567,000 after purchasing an additional 2,220,194 shares during the last quarter. International Assets Investment Management LLC boosted its stake in Devon Energy by 3,885.4% during the 4th quarter. International Assets Investment Management LLC now owns 1,695,206 shares of the energy company’s stock valued at $76,793,000 after purchasing an additional 1,652,671 shares during the last quarter. Finally, Schroder Investment Management Group boosted its stake in Devon Energy by 61.0% during the 3rd quarter. Schroder Investment Management Group now owns 2,673,781 shares of the energy company’s stock valued at $127,539,000 after purchasing an additional 1,013,353 shares during the last quarter. Institutional investors own 69.72% of the company’s stock.

Devon Energy Price Performance

Shares of Devon Energy stock opened at $52.57 on Wednesday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.99 and a current ratio of 1.07. The stock’s fifty day moving average is $48.30 and its 200 day moving average is $46.05. The stock has a market cap of $33.38 billion, a P/E ratio of 9.02 and a beta of 2.19. Devon Energy Co. has a one year low of $40.47 and a one year high of $55.09.

Devon Energy (NYSE:DVN) last posted its quarterly earnings results on Tuesday, February 27th. The energy company reported $1.41 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.02. The business had revenue of $4.15 billion for the quarter, compared to analysts’ expectations of $3.88 billion. Devon Energy had a return on equity of 31.72% and a net margin of 24.56%. The business’s quarterly revenue was down 3.6% on a year-over-year basis. During the same period last year, the firm earned $1.66 earnings per share. Sell-side analysts anticipate that Devon Energy Co. will post 5.14 earnings per share for the current year.

Devon Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were issued a dividend of $0.44 per share. The ex-dividend date was Thursday, March 14th. This represents a $1.76 dividend on an annualized basis and a yield of 3.35%. Devon Energy’s dividend payout ratio is presently 15.09%.

Wall Street Analyst Weigh In

Several analysts have commented on DVN shares. Mizuho cut their target price on Devon Energy from $54.00 to $53.00 and set a “buy” rating on the stock in a research note on Thursday, January 11th. Barclays began coverage on Devon Energy in a research note on Wednesday, April 10th. They issued an “equal weight” rating and a $59.00 price target on the stock. JPMorgan Chase & Co. raised their price target on Devon Energy from $57.00 to $62.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. Scotiabank raised their price target on Devon Energy from $53.00 to $67.00 and gave the stock a “sector outperform” rating in a research note on Thursday, April 11th. Finally, Stifel Nicolaus raised their price target on Devon Energy from $65.00 to $66.00 and gave the stock a “buy” rating in a research note on Tuesday. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $58.33.

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.