Devon Energy Co. (NYSE:DVN) Stock Holdings Decreased by State Street Corp

State Street Corp lessened its position in Devon Energy Co. (NYSE:DVN) by 2.9% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 40,177,965 shares of the energy company’s stock after selling 1,194,013 shares during the quarter. State Street Corp owned approximately 6.12% of Devon Energy worth $1,571,762,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Park Avenue Securities LLC raised its position in Devon Energy by 3.9% during the second quarter. Park Avenue Securities LLC now owns 12,351 shares of the energy company’s stock valued at $585,000 after buying an additional 467 shares during the period. CWM LLC boosted its holdings in shares of Devon Energy by 17.4% during the second quarter. CWM LLC now owns 22,479 shares of the energy company’s stock worth $1,066,000 after purchasing an additional 3,332 shares during the period. Simplicity Wealth LLC increased its stake in Devon Energy by 3.6% in the 2nd quarter. Simplicity Wealth LLC now owns 11,870 shares of the energy company’s stock valued at $563,000 after buying an additional 416 shares during the period. Capital Investment Advisors LLC lifted its position in Devon Energy by 6.0% in the 2nd quarter. Capital Investment Advisors LLC now owns 7,350 shares of the energy company’s stock worth $348,000 after buying an additional 417 shares in the last quarter. Finally, Czech National Bank grew its holdings in shares of Devon Energy by 6.8% during the 2nd quarter. Czech National Bank now owns 120,434 shares of the energy company’s stock valued at $5,709,000 after acquiring an additional 7,703 shares in the last quarter. Institutional investors and hedge funds own 69.72% of the company’s stock.

Devon Energy Stock Performance

NYSE:DVN opened at $34.98 on Friday. The stock has a market capitalization of $22.98 billion, a P/E ratio of 6.49, a price-to-earnings-growth ratio of 1.19 and a beta of 1.99. Devon Energy Co. has a 1 year low of $34.76 and a 1 year high of $55.09. The firm has a 50 day moving average of $39.36 and a 200-day moving average of $43.10. The company has a current ratio of 1.11, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61.

Devon Energy (NYSE:DVN) last announced its earnings results on Tuesday, November 5th. The energy company reported $1.10 EPS for the quarter, topping the consensus estimate of $1.09 by $0.01. Devon Energy had a return on equity of 24.73% and a net margin of 21.71%. The company had revenue of $4.02 billion for the quarter, compared to analysts’ expectations of $3.72 billion. During the same quarter in the prior year, the business earned $1.65 earnings per share. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Devon Energy Co. will post 4.79 EPS for the current fiscal year.

Devon Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date of this dividend is Friday, December 13th. Devon Energy’s dividend payout ratio is currently 16.33%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on DVN shares. Citigroup reduced their price target on Devon Energy from $55.00 to $48.00 and set a “buy” rating for the company in a report on Tuesday, November 26th. Evercore ISI dropped their price objective on Devon Energy from $55.00 to $50.00 and set an “in-line” rating on the stock in a research note on Monday, September 30th. TD Cowen cut their price target on Devon Energy from $54.00 to $46.00 and set a “hold” rating for the company in a report on Tuesday, November 5th. Mizuho cut their target price on shares of Devon Energy from $53.00 to $51.00 and set an “outperform” rating for the company in a research note on Wednesday, October 9th. Finally, StockNews.com lowered shares of Devon Energy from a “hold” rating to a “sell” rating in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Devon Energy has a consensus rating of “Hold” and a consensus target price of $50.75.

Devon Energy Profile

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.