Machina Capital S.A.S. Takes $551,000 Position in Devon Energy Co. (NYSE:DVN)

Machina Capital S.A.S. acquired a new stake in Devon Energy Co. (NYSE:DVN) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 12,171 shares of the energy company’s stock, valued at approximately $551,000.

A number of other institutional investors also recently bought and sold shares of DVN. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of Devon Energy during the third quarter valued at $27,000. Sound Income Strategies LLC raised its stake in shares of Devon Energy by 60.7% in the fourth quarter. Sound Income Strategies LLC now owns 675 shares of the energy company’s stock worth $31,000 after purchasing an additional 255 shares during the last quarter. Rise Advisors LLC lifted its holdings in shares of Devon Energy by 1,365.3% during the fourth quarter. Rise Advisors LLC now owns 718 shares of the energy company’s stock worth $33,000 after purchasing an additional 669 shares during the period. PFS Partners LLC purchased a new stake in Devon Energy in the fourth quarter valued at approximately $36,000. Finally, Naples Money Management LLC acquired a new position in Devon Energy in the 4th quarter worth approximately $40,000. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

DVN has been the topic of several recent research reports. Wells Fargo & Company raised shares of Devon Energy from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $46.00 to $59.00 in a report on Monday, April 1st. Mizuho increased their price target on Devon Energy from $53.00 to $57.00 and gave the stock a “buy” rating in a research report on Thursday. Royal Bank of Canada reissued a “sector perform” rating and issued a $55.00 price objective on shares of Devon Energy in a report on Thursday, March 7th. UBS Group lifted their price target on Devon Energy from $48.00 to $57.00 and gave the company a “neutral” rating in a research report on Wednesday, April 10th. Finally, StockNews.com raised Devon Energy from a “hold” rating to a “buy” rating in a report on Friday. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $58.44.

Devon Energy Price Performance

Shares of DVN stock traded up $0.32 on Monday, reaching $50.86. 5,851,269 shares of the company were exchanged, compared to its average volume of 7,877,557. Devon Energy Co. has a 1 year low of $40.47 and a 1 year high of $55.09. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.97 and a current ratio of 1.04. The business has a 50-day moving average price of $49.62 and a 200 day moving average price of $46.25. The company has a market cap of $32.14 billion, a price-to-earnings ratio of 9.71 and a beta of 2.16.

Devon Energy (NYSE:DVN) last posted its quarterly earnings data on Wednesday, May 1st. The energy company reported $1.16 EPS for the quarter, topping the consensus estimate of $1.10 by $0.06. The company had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.64 billion. Devon Energy had a return on equity of 29.02% and a net margin of 22.27%. Devon Energy’s quarterly revenue was down 5.9% on a year-over-year basis. During the same period in the previous year, the business earned $1.46 EPS. Equities research analysts forecast that Devon Energy Co. will post 5.24 earnings per share for the current fiscal year.

Devon Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.88 dividend on an annualized basis and a yield of 1.73%. Devon Energy’s payout ratio is currently 16.79%.

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.