Sciencast Management LP Grows Holdings in Devon Energy Co. (NYSE:DVN)

Sciencast Management LP increased its stake in Devon Energy Co. (NYSE:DVN) by 4.7% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 53,374 shares of the energy company’s stock after acquiring an additional 2,413 shares during the quarter. Sciencast Management LP’s holdings in Devon Energy were worth $1,747,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in DVN. Cromwell Holdings LLC increased its position in shares of Devon Energy by 98.0% during the fourth quarter. Cromwell Holdings LLC now owns 1,208 shares of the energy company’s stock worth $40,000 after acquiring an additional 598 shares during the period. Sierra Ocean LLC purchased a new position in Devon Energy during the 4th quarter worth $43,000. True Wealth Design LLC increased its holdings in Devon Energy by 3,889.3% during the 3rd quarter. True Wealth Design LLC now owns 1,117 shares of the energy company’s stock worth $44,000 after purchasing an additional 1,089 shares during the period. Endeavor Private Wealth Inc. purchased a new position in Devon Energy during the 4th quarter worth $52,000. Finally, Thompson Investment Management Inc. increased its holdings in Devon Energy by 60.0% during the 4th 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 period. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Devon Energy Stock Performance

Shares of NYSE DVN opened at $36.18 on Friday. The company’s fifty day moving average price is $35.46 and its 200 day moving average price is $37.06. The company has a market capitalization of $23.48 billion, a PE ratio of 7.93, a price-to-earnings-growth ratio of 1.20 and a beta of 1.91. Devon Energy Co. has a 1 year low of $30.39 and a 1 year high of $55.09. 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 posted its earnings results on Tuesday, February 18th. The energy company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.16. The business had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.25 billion. Devon Energy had a net margin of 18.14% and a return on equity of 22.52%. On average, research analysts predict that Devon Energy Co. will post 4.85 earnings per share for the current year.

Devon Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be 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 is Friday, March 14th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.65%. Devon Energy’s dividend payout ratio (DPR) is 21.05%.

Analyst Ratings Changes

Several brokerages have recently commented on DVN. Cowen lowered Devon Energy to a “hold” rating and cut their price target for the company from $46.00 to $45.00 in a research note on Tuesday, February 18th. Royal Bank of Canada reissued a “sector perform” rating and set a $50.00 target price on shares of Devon Energy in a research report on Friday, January 10th. Susquehanna lifted their price target on Devon Energy from $50.00 to $52.00 and gave the company a “positive” rating in a report on Thursday, February 20th. Williams Trading set a $50.00 target price on Devon Energy in a research note on Wednesday, March 5th. Finally, Raymond James cut their target price on Devon Energy from $54.00 to $46.00 and set an “outperform” rating on the stock in a research note on Monday, March 10th. Ten research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $48.46.

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.