Ontario Teachers Pension Plan Board acquired a new position in Devon Energy Corp (NYSE:DVN) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 48,553 shares of the energy company’s stock, valued at approximately $1,532,000.
A number of other institutional investors and hedge funds have also recently bought and sold shares of DVN. Lindbrook Capital LLC bought a new stake in Devon Energy during the 4th quarter valued at approximately $26,000. Meeder Asset Management Inc. grew its holdings in Devon Energy by 94.6% during the 1st quarter. Meeder Asset Management Inc. now owns 823 shares of the energy company’s stock valued at $26,000 after buying an additional 400 shares in the last quarter. Lavaca Capital LLC grew its holdings in Devon Energy by 566.0% during the 1st quarter. Lavaca Capital LLC now owns 1,332 shares of the energy company’s stock valued at $42,000 after buying an additional 1,132 shares in the last quarter. Oregon Public Employees Retirement Fund grew its holdings in Devon Energy by 2,129.2% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,274,907 shares of the energy company’s stock valued at $57,000 after buying an additional 1,217,716 shares in the last quarter. Finally, Quattro Financial Advisors LLC purchased a new position in Devon Energy during the 4th quarter valued at approximately $65,000. Institutional investors and hedge funds own 84.06% of the company’s stock.
Shares of DVN traded up $0.38 during trading hours on Monday, hitting $28.90. The company had a trading volume of 4,477,673 shares, compared to its average volume of 7,228,171. The company has a market cap of $12.08 billion, a P/E ratio of 22.40, a PEG ratio of 2.27 and a beta of 2.28. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.37 and a quick ratio of 1.37. Devon Energy Corp has a one year low of $20.37 and a one year high of $46.54. The business’s fifty day moving average price is $27.56.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be paid a dividend of $0.09 per share. The ex-dividend date is Thursday, September 12th. This represents a $0.36 annualized dividend and a yield of 1.25%. Devon Energy’s dividend payout ratio (DPR) is 27.91%.
Several research firms have weighed in on DVN. Zacks Investment Research upgraded Devon Energy from a “hold” rating to a “buy” rating and set a $37.00 price target for the company in a report on Thursday, April 18th. Seaport Global Securities reiterated a “buy” rating on shares of Devon Energy in a report on Friday, June 21st. Morgan Stanley set a $32.00 target price on Devon Energy and gave the stock a “hold” rating in a report on Monday, June 24th. ValuEngine upgraded Devon Energy from a “sell” rating to a “hold” rating in a report on Friday, March 15th. Finally, Barclays reiterated a “hold” rating and issued a $36.00 target price on shares of Devon Energy in a report on Thursday, April 11th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and fifteen have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $44.30.
In related news, CAO Jeremy D. Humphers sold 4,000 shares of the business’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $25.40, for a total transaction of $101,600.00. Following the transaction, the chief accounting officer now directly owns 81,914 shares in the company, valued at approximately $2,080,615.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.63% of the stock is owned by insiders.
Devon Energy Profile
Devon Energy Corporation, an independent energy company, primarily engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States and Canada. It operates approximately 12,900 gross wells. The company was founded in 1971 and is headquartered in Oklahoma City, Oklahoma.
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