Devon Energy Co. (NYSE:DVN) Stake Boosted by Tokio Marine Asset Management Co. Ltd.

Tokio Marine Asset Management Co. Ltd. increased its position in shares of Devon Energy Co. (NYSE:DVN) by 7.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,663 shares of the energy company’s stock after purchasing an additional 1,229 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Devon Energy were worth $800,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Avior Wealth Management LLC lifted its stake in Devon Energy by 4.9% in the third quarter. Avior Wealth Management LLC now owns 4,406 shares of the energy company’s stock valued at $210,000 after buying an additional 207 shares during the last quarter. Cornerstone Wealth Management LLC lifted its holdings in Devon Energy by 1.9% in the third quarter. Cornerstone Wealth Management LLC now owns 11,540 shares of the energy company’s stock worth $550,000 after purchasing an additional 218 shares during the period. MCF Advisors LLC lifted its holdings in Devon Energy by 9.0% in the third quarter. MCF Advisors LLC now owns 2,681 shares of the energy company’s stock worth $128,000 after purchasing an additional 222 shares during the period. Clearbridge Investments LLC lifted its holdings in Devon Energy by 2.1% in the third quarter. Clearbridge Investments LLC now owns 11,887 shares of the energy company’s stock worth $567,000 after purchasing an additional 239 shares during the period. Finally, KG&L Capital Management LLC lifted its holdings in Devon Energy by 4.0% in the third quarter. KG&L Capital Management LLC now owns 6,547 shares of the energy company’s stock worth $312,000 after purchasing an additional 250 shares during the period. 69.72% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on DVN shares. Stifel Nicolaus upped their price objective on shares of Devon Energy from $65.00 to $66.00 and gave the stock a “buy” rating in a report on Tuesday. Mizuho reduced their price objective on shares of Devon Energy from $54.00 to $53.00 and set a “buy” rating for the company in a report on Thursday, January 11th. Barclays started coverage on shares of Devon Energy in a report on Wednesday, April 10th. They issued an “equal weight” rating and a $59.00 price objective for the company. Raymond James dropped their price target on shares of Devon Energy from $53.00 to $52.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 24th. Finally, Citigroup boosted their price target on shares of Devon Energy from $55.00 to $62.00 and gave the stock a “buy” rating in a research report on Thursday, April 11th. Five investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $58.33.

Devon Energy Stock Up 0.2 %

Shares of Devon Energy stock opened at $52.72 on Friday. The stock has a market capitalization of $33.48 billion, a P/E ratio of 9.04 and a beta of 2.19. The company has a quick ratio of 0.99, a current ratio of 1.07 and a debt-to-equity ratio of 0.46. The stock has a 50 day moving average price of $48.88 and a two-hundred day moving average price of $46.18. Devon Energy Co. has a 12-month low of $40.47 and a 12-month high of $55.09.

Devon Energy (NYSE:DVN) last announced its earnings results on Tuesday, February 27th. The energy company reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $0.02. Devon Energy had a return on equity of 31.72% and a net margin of 24.56%. The firm had revenue of $4.15 billion during the quarter, compared to analysts’ expectations of $3.88 billion. During the same quarter in the prior year, the business earned $1.66 earnings per share. The company’s revenue was down 3.6% on a year-over-year basis. Equities analysts expect that Devon Energy Co. will post 5.25 earnings per share for the current year.

Devon Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were issued a dividend of $0.44 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.34%. Devon Energy’s dividend payout ratio (DPR) is presently 15.09%.

Devon Energy Company 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.