Devon Energy Co. (NYSE:DVN) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund lessened its stake in Devon Energy Co. (NYSE:DVN) by 8.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 459,312 shares of the energy company’s stock after selling 41,322 shares during the quarter. New York State Common Retirement Fund owned about 0.07% of Devon Energy worth $15,033,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of DVN. Callahan Advisors LLC purchased a new position in shares of Devon Energy in the fourth quarter valued at $207,000. Mraz Amerine & Associates Inc. boosted its position in Devon Energy by 20.0% in the 4th quarter. Mraz Amerine & Associates Inc. now owns 37,195 shares of the energy company’s stock valued at $1,217,000 after buying an additional 6,206 shares during the last quarter. Venturi Wealth Management LLC grew its stake in shares of Devon Energy by 34.8% during the fourth quarter. Venturi Wealth Management LLC now owns 4,198 shares of the energy company’s stock valued at $137,000 after acquiring an additional 1,084 shares in the last quarter. CIBC Asset Management Inc increased its position in shares of Devon Energy by 5.7% during the fourth quarter. CIBC Asset Management Inc now owns 113,245 shares of the energy company’s stock worth $3,707,000 after acquiring an additional 6,063 shares during the last quarter. Finally, Woodard & Co. Asset Management Group Inc. ADV acquired a new position in shares of Devon Energy in the fourth quarter worth about $1,487,000. Institutional investors and hedge funds own 69.72% of the company’s stock.

Devon Energy Trading Down 2.8 %

Devon Energy stock opened at $37.49 on Monday. Devon Energy Co. has a 1 year low of $30.39 and a 1 year high of $55.09. The firm’s 50 day moving average price is $34.47 and its two-hundred day moving average price is $38.31. The firm has a market cap of $24.33 billion, a price-to-earnings ratio of 8.22, a price-to-earnings-growth ratio of 1.20 and a beta of 1.98. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.01 and a current ratio of 1.04.

Devon Energy (NYSE:DVN) last announced its earnings results on Tuesday, February 18th. The energy company reported $1.16 EPS for the quarter, beating the consensus estimate of $1.00 by $0.16. The business had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.25 billion. Devon Energy had a return on equity of 22.52% and a net margin of 18.14%. On average, research analysts predict that Devon Energy Co. will post 4.85 EPS for the current fiscal year.

Devon Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 2.56%. This is a boost from Devon Energy’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Friday, March 14th. Devon Energy’s dividend payout ratio (DPR) is presently 19.30%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Benchmark restated a “buy” rating and set a $44.00 price objective on shares of Devon Energy in a research note on Thursday. Mizuho dropped their price target on shares of Devon Energy from $51.00 to $47.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. Citigroup cut their price target on shares of Devon Energy from $55.00 to $48.00 and set a “buy” rating on the stock in a report on Tuesday, November 26th. Wolfe Research raised 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. Finally, StockNews.com raised Devon Energy from a “sell” rating to a “hold” rating in a report on Friday, January 3rd. Ten analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $48.83.

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.