Rhumbline Advisers decreased its position in shares of Devon Energy Corp (NYSE:DVN) by 6.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 819,059 shares of the energy company’s stock after selling 58,545 shares during the period. Rhumbline Advisers owned about 0.17% of Devon Energy worth $18,462,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of DVN. Duncker Streett & Co. Inc. increased its holdings in shares of Devon Energy by 40.5% in the fourth quarter. Duncker Streett & Co. Inc. now owns 1,600 shares of the energy company’s stock valued at $36,000 after purchasing an additional 461 shares in the last quarter. Westbourne Investment Advisors Inc. increased its holdings in shares of Devon Energy by 6.3% in the fourth quarter. Westbourne Investment Advisors Inc. now owns 11,749 shares of the energy company’s stock valued at $265,000 after purchasing an additional 699 shares in the last quarter. Hedeker Wealth LLC increased its holdings in shares of Devon Energy by 3.0% in the fourth quarter. Hedeker Wealth LLC now owns 24,736 shares of the energy company’s stock valued at $557,000 after purchasing an additional 712 shares in the last quarter. First Hawaiian Bank increased its holdings in shares of Devon Energy by 10.7% in the fourth quarter. First Hawaiian Bank now owns 7,926 shares of the energy company’s stock valued at $178,000 after purchasing an additional 767 shares in the last quarter. Finally, Grace & White Inc. NY increased its holdings in shares of Devon Energy by 4.4% in the fourth quarter. Grace & White Inc. NY now owns 26,000 shares of the energy company’s stock valued at $586,000 after purchasing an additional 1,100 shares in the last quarter. 82.79% of the stock is owned by institutional investors.

A number of research firms have commented on DVN. Zacks Investment Research raised shares of Devon Energy from a “hold” rating to a “buy” rating and set a $41.00 target price for the company in a report on Tuesday, October 16th. Mitsubishi UFJ Financial Group lifted their target price on shares of Devon Energy from $46.00 to $48.00 and gave the stock a “neutral” rating in a report on Wednesday, October 17th. Stephens began coverage on shares of Devon Energy in a report on Thursday, December 6th. They set an “overweight” rating and a $50.00 target price for the company. MKM Partners began coverage on shares of Devon Energy in a research report on Wednesday, December 5th. They set a “buy” rating and a $38.00 price target on the stock. Finally, Stifel Nicolaus reissued a “buy” rating and set a $50.00 price target on shares of Devon Energy in a research report on Tuesday, November 27th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and sixteen have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $46.36.

Devon Energy stock opened at $24.92 on Monday. The stock has a market cap of $11.67 billion, a PE ratio of 39.56, a PEG ratio of 1.52 and a beta of 2.23. Devon Energy Corp has a fifty-two week low of $20.37 and a fifty-two week high of $46.54. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.65.

The business also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 15th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $0.32 dividend on an annualized basis and a yield of 1.28%. Devon Energy’s dividend payout ratio (DPR) is currently 50.79%.

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About Devon Energy

Devon Energy Corporation, an independent energy company, primarily engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States and Canada. It operates approximately 14,600 gross wells. The company also offers gathering, transmission, processing, storage, fractionation, and marketing to upstream oil and natural gas producers; and owns natural gas pipelines, plants and treatment facilities.

See Also: Earnings Per Share (EPS) Explained

Institutional Ownership by Quarter for Devon Energy (NYSE:DVN)

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