Devon Energy Co. (NYSE:DVN) Shares Acquired by Brooklyn Investment Group

Brooklyn Investment Group increased its stake in shares of Devon Energy Co. (NYSE:DVN) by 76.6% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 8,042 shares of the energy company’s stock after acquiring an additional 3,487 shares during the period. Brooklyn Investment Group’s holdings in Devon Energy were worth $263,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its holdings in shares of Devon Energy by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 15,892,970 shares of the energy company’s stock worth $619,747,000 after acquiring an additional 206,884 shares during the period. EnCap Energy Capital Fund XI L.P. acquired a new stake in shares of Devon Energy in the third quarter valued at approximately $461,857,000. Pacer Advisors Inc. raised 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 buying an additional 1,677,652 shares during the last quarter. EnCap Partners GP LLC acquired a new position in shares of Devon Energy during the third quarter worth approximately $408,653,000. Finally, Victory Capital Management Inc. grew its holdings in Devon Energy by 3.8% in the 3rd quarter. Victory Capital Management Inc. now owns 9,971,343 shares of the energy company’s stock worth $390,079,000 after buying an additional 361,968 shares in the last quarter. 69.72% of the stock is currently owned by institutional investors.

Devon Energy Stock Down 1.2 %

Shares of NYSE:DVN opened at $37.98 on Friday. The firm has a 50 day simple moving average of $35.48 and a 200 day simple moving average of $40.27. Devon Energy Co. has a 52 week low of $30.39 and a 52 week 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 company has a market cap of $24.95 billion, a PE ratio of 7.05, a price-to-earnings-growth ratio of 1.14 and a beta of 2.00.

Devon Energy (NYSE:DVN) last released its earnings results on Tuesday, November 5th. The energy company reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.09 by $0.01. Devon Energy had a return on equity of 24.73% and a net margin of 21.71%. The company had revenue of $4.02 billion during the quarter, compared to analyst estimates of $3.72 billion. During the same quarter in the prior year, the company earned $1.65 earnings per share. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. As a group, research analysts expect that Devon Energy Co. will post 4.72 earnings per share for the current year.

Devon Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Friday, December 13th were paid a dividend of $0.22 per share. The ex-dividend date was Friday, December 13th. This represents a $0.88 annualized dividend and a yield of 2.32%. Devon Energy’s dividend payout ratio (DPR) is presently 16.33%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on DVN. Barclays reduced their price target on Devon Energy from $55.00 to $46.00 and set an “equal weight” rating for the company in a research report on Thursday, October 3rd. Benchmark raised shares of Devon Energy from a “hold” rating to a “buy” rating and set a $44.00 price objective for the company in a report on Tuesday, January 14th. Wolfe Research upgraded shares of Devon Energy from a “peer perform” rating to an “outperform” rating and set a $45.00 price target on the stock in a research report on Friday, January 3rd. BMO Capital Markets decreased their price objective on shares of Devon Energy from $52.00 to $48.00 and set an “outperform” rating for the company in a report on Friday, October 4th. Finally, Citigroup dropped their target price on Devon Energy from $55.00 to $48.00 and set a “buy” rating on the stock in a report on Tuesday, November 26th. Nine investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $49.27.

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.