97,500 Shares in Devon Energy Corporation $DVN Bought by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Devon Energy Corporation (NYSE:DVN) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 97,500 shares of the energy company’s stock, valued at approximately $3,418,000.

Several other institutional investors have also modified their holdings of the stock. TD Asset Management Inc lifted its stake in Devon Energy by 6.4% in the 2nd quarter. TD Asset Management Inc now owns 267,322 shares of the energy company’s stock valued at $8,504,000 after buying an additional 16,106 shares in the last quarter. Natixis raised its holdings in shares of Devon Energy by 101.4% during the second quarter. Natixis now owns 73,902 shares of the energy company’s stock valued at $2,351,000 after acquiring an additional 37,211 shares during the last quarter. Stephens Inc. AR lifted its position in shares of Devon Energy by 90.4% in the second quarter. Stephens Inc. AR now owns 72,546 shares of the energy company’s stock valued at $2,308,000 after acquiring an additional 34,448 shares in the last quarter. Scott & Selber Inc. acquired a new stake in shares of Devon Energy in the second quarter worth approximately $2,455,000. Finally, CWM LLC increased its position in shares of Devon Energy by 70.0% during the third quarter. CWM LLC now owns 336,861 shares of the energy company’s stock worth $11,810,000 after purchasing an additional 138,717 shares in the last quarter. Institutional investors and hedge funds own 69.72% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on DVN shares. Weiss Ratings reissued a “sell (d+)” rating on shares of Devon Energy in a research note on Monday. BMO Capital Markets reduced their target price on shares of Devon Energy from $50.00 to $48.00 and set an “outperform” rating for the company in a research report on Monday, December 15th. Mizuho boosted their price target on shares of Devon Energy from $40.00 to $43.00 and gave the stock an “outperform” rating in a research report on Friday, December 12th. Scotiabank reaffirmed an “outperform” rating on shares of Devon Energy in a research note on Thursday, October 9th. Finally, Argus raised shares of Devon Energy to a “strong-buy” rating in a research note on Wednesday, November 26th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $44.86.

Devon Energy Price Performance

Devon Energy stock opened at $36.66 on Friday. The company has a current ratio of 0.96, a quick ratio of 0.87 and a debt-to-equity ratio of 0.48. The company has a 50-day moving average price of $35.51 and a 200 day moving average price of $34.42. Devon Energy Corporation has a 12-month low of $25.89 and a 12-month high of $38.88. The stock has a market cap of $23.00 billion, a P/E ratio of 8.63, a PEG ratio of 2.78 and a beta of 0.60.

Devon Energy (NYSE:DVN) last posted its earnings results on Wednesday, November 5th. The energy company reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.11. The company had revenue of $0.00 million for the quarter, compared to analyst estimates of $4.10 billion. Devon Energy had a net margin of 15.56% and a return on equity of 18.14%. During the same period in the previous year, the business posted $1.10 EPS. Sell-side analysts anticipate that Devon Energy Corporation will post 4.85 earnings per share for the current year.

Devon Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 30th. Investors of record on Monday, December 15th were given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.6%. The ex-dividend date was Monday, December 15th. Devon Energy’s dividend payout ratio is presently 22.59%.

Devon Energy Profile

Devon Energy Corporation (NYSE: DVN) is an independent oil and gas exploration and production company headquartered in Oklahoma City, Oklahoma. The company focuses on the exploration, development, production and marketing of hydrocarbons, including crude oil, natural gas liquids (NGLs) and natural gas. Devon operates as an upstream energy company that acquires, evaluates and develops onshore resource plays using a combination of drilling, completion and production optimization techniques.

Core business activities include identifying and developing energy reserves, operating well programs and managing reservoir performance to generate production and cash flow.