Royal London Asset Management Ltd. Raises Holdings in Devon Energy Co. (NYSE:DVN)

Royal London Asset Management Ltd. boosted its stake in shares of Devon Energy Co. (NYSE:DVN) by 0.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 259,460 shares of the energy company’s stock after buying an additional 638 shares during the period. Royal London Asset Management Ltd.’s holdings in Devon Energy were worth $8,492,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. True Wealth Design LLC lifted its stake in shares of 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 last quarter. Cromwell Holdings LLC lifted 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 valued at $40,000 after buying an additional 598 shares during the last quarter. Sierra Ocean LLC bought a new stake in shares of Devon Energy in the 4th quarter valued at about $43,000. Endeavor Private Wealth Inc. bought a new stake in shares of Devon Energy in the 4th quarter valued at about $52,000. Finally, Thompson Investment Management Inc. raised its stake in shares of 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 acquiring an additional 600 shares in the last quarter. Institutional investors own 69.72% of the company’s stock.

Analyst Upgrades and Downgrades

DVN has been the subject of several recent analyst reports. Susquehanna raised their target price on shares of Devon Energy from $50.00 to $52.00 and gave the company a “positive” rating in a research note on Thursday, February 20th. Wells Fargo & Company decreased their price objective on Devon Energy from $49.00 to $43.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th. Mizuho lowered their price target on Devon Energy from $51.00 to $47.00 and set an “outperform” rating for the company in a report on Monday, December 16th. Raymond James cut their price objective on shares of Devon Energy from $54.00 to $46.00 and set an “outperform” rating on the stock in a report on Monday, March 10th. Finally, StockNews.com upgraded shares of Devon Energy from a “sell” rating to a “hold” rating in a research note on Friday, January 3rd. Ten equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $48.46.

Devon Energy Stock Performance

Shares of NYSE DVN opened at $36.18 on Monday. 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. The company’s fifty day moving average price is $35.46 and its 200 day moving average price is $36.98. 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 (NYSE:DVN) last posted its earnings results on Tuesday, February 18th. The energy company reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.16. The firm had revenue of $4.40 billion for the quarter, compared to analysts’ expectations 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 earnings per share for the current year.

Devon Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be given a $0.24 dividend. The ex-dividend date is Friday, March 14th. This is a boost from Devon Energy’s previous quarterly dividend of $0.22. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.65%. Devon Energy’s payout ratio is 21.05%.

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.