William B. Walkup & Associates Inc. Increases Stock Holdings in Devon Energy Co. (NYSE:DVN)

William B. Walkup & Associates Inc. boosted its holdings in Devon Energy Co. (NYSE:DVN) by 3.7% in the 4th quarter, HoldingsChannel.com reports. The firm owned 22,979 shares of the energy company’s stock after buying an additional 830 shares during the quarter. William B. Walkup & Associates Inc.’s holdings in Devon Energy were worth $752,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in Devon Energy by 7.3% during the fourth quarter. Vanguard Group Inc. now owns 80,682,170 shares of the energy company’s stock worth $2,640,727,000 after purchasing an additional 5,465,692 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Devon Energy during the 4th quarter valued at $154,170,000. Fuller & Thaler Asset Management Inc. grew its stake in shares of Devon Energy by 42.8% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 10,395,225 shares of the energy company’s stock valued at $340,236,000 after buying an additional 3,114,656 shares during the period. Marshall Wace LLP increased its holdings in shares of Devon Energy by 135.5% during the 4th quarter. Marshall Wace LLP now owns 5,371,518 shares of the energy company’s stock worth $175,810,000 after buying an additional 3,090,585 shares during the last quarter. Finally, Invesco Ltd. raised its position in shares of Devon Energy by 32.8% in the 4th quarter. Invesco Ltd. now owns 9,461,719 shares of the energy company’s stock worth $309,682,000 after buying an additional 2,335,473 shares during the period. 69.72% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

DVN has been the subject of a number of research reports. StockNews.com raised Devon Energy from a “sell” rating to a “hold” rating in a research report on Thursday, May 15th. Raymond James set a $40.00 target price on Devon Energy in a report on Monday, April 21st. Scotiabank cut their price target on shares of Devon Energy from $45.00 to $35.00 and set a “sector outperform” rating on the stock in a report on Friday, April 11th. Susquehanna reduced their price target on shares of Devon Energy from $52.00 to $41.00 and set a “positive” rating on the stock in a research report on Tuesday, April 22nd. Finally, Mizuho decreased their price objective on shares of Devon Energy from $46.00 to $43.00 and set an “outperform” rating for the company in a research note on Tuesday, May 13th. Ten research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $43.83.

Devon Energy Stock Performance

DVN opened at $32.66 on Tuesday. Devon Energy Co. has a twelve month low of $25.89 and a twelve month high of $50.24. The stock has a market cap of $20.97 billion, a PE ratio of 7.16, a price-to-earnings-growth ratio of 1.20 and a beta of 1.00. The business’s 50 day moving average is $32.46 and its 200-day moving average is $34.48. The company has a current ratio of 1.04, a quick ratio of 1.01 and a debt-to-equity ratio of 0.57.

Devon Energy (NYSE:DVN) last announced its earnings results on Tuesday, May 6th. The energy company reported $1.21 earnings per share for the quarter, missing the consensus estimate of $1.27 by ($0.06). Devon Energy had a net margin of 18.14% and a return on equity of 22.52%. The business had revenue of $4.45 billion for the quarter, compared to the consensus estimate of $4.31 billion. During the same period in the previous year, the firm earned $1.16 EPS. The firm’s revenue was up 23.8% on a year-over-year basis. On average, analysts predict that Devon Energy Co. will post 4.85 earnings per share for the current year.

Devon Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.94%. The ex-dividend date of this dividend is Friday, June 13th. Devon Energy’s payout ratio is currently 21.87%.

About Devon Energy

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.