Speece Thorson Capital Group Inc. Lowers Holdings in Devon Energy Co. (NYSE:DVN)

Speece Thorson Capital Group Inc. trimmed its position in shares of Devon Energy Co. (NYSE:DVN) by 4.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 314,770 shares of the energy company’s stock after selling 14,353 shares during the quarter. Speece Thorson Capital Group Inc.’s holdings in Devon Energy were worth $10,302,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of DVN. Hurley Capital LLC purchased a new stake in shares of Devon Energy during the fourth quarter valued at approximately $26,000. Cromwell Holdings LLC lifted its position in Devon Energy by 98.0% in the 4th quarter. Cromwell Holdings LLC now owns 1,208 shares of the energy company’s stock valued at $40,000 after acquiring an additional 598 shares in the last quarter. Sierra Ocean LLC purchased a new stake in Devon Energy during the 4th quarter valued at $43,000. Endeavor Private Wealth Inc. bought a new stake in shares of Devon Energy in the 4th quarter worth $52,000. Finally, Thompson Investment Management Inc. raised its stake in shares of Devon Energy by 60.0% in the fourth quarter. Thompson Investment Management Inc. now owns 1,600 shares of the energy company’s stock worth $52,000 after purchasing an additional 600 shares during the last quarter. 69.72% of the stock is currently owned by institutional investors.

Devon Energy Stock Up 3.4 %

DVN opened at $30.29 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.01 and a current ratio of 1.04. The firm’s fifty day moving average is $33.92 and its 200 day moving average is $35.80. The stock has a market cap of $19.66 billion, a price-to-earnings ratio of 6.64, a price-to-earnings-growth ratio of 1.20 and a beta of 1.50. Devon Energy Co. has a fifty-two week low of $25.89 and a fifty-two week high of $53.20.

Devon Energy (NYSE:DVN) last issued its earnings results on Tuesday, February 18th. The energy company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $4.25 billion. On average, sell-side analysts forecast that Devon Energy Co. will post 4.85 earnings per share for the current fiscal year.

Devon Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were given a dividend of $0.24 per share. This is a positive change from Devon Energy’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.17%. Devon Energy’s dividend payout ratio is currently 21.05%.

Analyst Ratings Changes

Several equities research analysts recently commented on DVN shares. Wells Fargo & Company dropped their price objective on Devon Energy from $46.00 to $44.00 and set an “overweight” rating on the stock in a research report on Monday, April 14th. StockNews.com raised shares of Devon Energy from a “sell” rating to a “hold” rating in a report on Friday, January 3rd. Wolfe Research raised shares of Devon Energy from a “peer perform” rating to an “outperform” rating and set a $45.00 price objective for the company in a report on Friday, January 3rd. Morgan Stanley set a $47.00 target price on shares of Devon Energy and gave the stock an “overweight” rating in a report on Wednesday, March 26th. Finally, Barclays boosted their target price on shares of Devon Energy from $43.00 to $44.00 and gave the company an “equal weight” rating in a research note on Thursday, February 20th. Ten investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $46.71.

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.