451,426 Shares in Devon Energy Co. (NYSE:DVN) Acquired by Jump Financial LLC

Jump Financial LLC bought a new position in Devon Energy Co. (NYSE:DVN) during the 4th quarter, HoldingsChannel.com reports. The fund bought 451,426 shares of the energy company’s stock, valued at approximately $14,775,000.

Several other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Devon Energy by 7.3% during the 4th quarter. Vanguard Group Inc. now owns 80,682,170 shares of the energy company’s stock valued at $2,640,727,000 after buying an additional 5,465,692 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Devon Energy in the 4th quarter valued at approximately $154,170,000. Invesco Ltd. raised its stake in shares of Devon Energy by 32.8% in the 4th quarter. Invesco Ltd. now owns 9,461,719 shares of the energy company’s stock valued at $309,682,000 after buying an additional 2,335,473 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in Devon Energy by 90.8% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 2,724,407 shares of the energy company’s stock valued at $89,170,000 after purchasing an additional 1,296,590 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in Devon Energy by 6.5% in the fourth quarter. Geode Capital Management LLC now owns 16,931,275 shares of the energy company’s stock valued at $552,830,000 after acquiring an additional 1,038,305 shares during the period. 69.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

DVN has been the subject of several research reports. Susquehanna lifted their target price on Devon Energy from $50.00 to $52.00 and gave the company a “positive” rating in a research note on Thursday, February 20th. Cowen cut shares of Devon Energy to a “hold” rating and reduced their price target for the stock from $46.00 to $45.00 in a research report on Tuesday, February 18th. Williams Trading set a $50.00 price target on shares of Devon Energy in a research note on Wednesday, March 5th. Barclays increased their price objective on Devon Energy from $43.00 to $44.00 and gave the stock an “equal weight” rating in a report on Thursday, February 20th. Finally, Morgan Stanley set a $47.00 target price on Devon Energy and gave the stock an “overweight” rating in a report on Wednesday, March 26th. Ten research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $46.71.

Devon Energy Price Performance

NYSE DVN opened at $28.70 on Tuesday. The stock has a market cap of $18.63 billion, a price-to-earnings ratio of 6.29, a PEG ratio of 1.20 and a beta of 1.50. Devon Energy Co. has a 12 month low of $25.89 and a 12 month high of $54.04. The company’s 50 day moving average is $34.27 and its two-hundred day moving average is $36.06. The company has a current ratio of 1.04, a quick ratio of 1.01 and a debt-to-equity ratio of 0.57.

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. Devon Energy had a return on equity of 22.52% and a net margin of 18.14%. The firm had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.25 billion. As a group, research analysts anticipate that Devon Energy Co. will post 4.85 earnings per share for the current year.

Devon Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 3.34%. The ex-dividend date was Friday, March 14th. This is an increase from Devon Energy’s previous quarterly dividend of $0.22. Devon Energy’s dividend payout ratio (DPR) is currently 21.05%.

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.