Devon Energy Co. (NYSE:DVN) Shares Bought by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. lifted its holdings in Devon Energy Co. (NYSE:DVN) by 530.3% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,067,465 shares of the energy company’s stock after purchasing an additional 1,739,436 shares during the quarter. Assenagon Asset Management S.A. owned 0.32% of Devon Energy worth $77,323,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of DVN. Vanguard Group Inc. raised its holdings in Devon Energy by 7.3% during the fourth quarter. Vanguard Group Inc. now owns 80,682,170 shares of the energy company’s stock worth $2,640,727,000 after purchasing an additional 5,465,692 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Devon Energy during the 4th quarter valued at $154,170,000. Fuller & Thaler Asset Management Inc. raised its stake in shares of Devon Energy by 42.8% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 10,395,225 shares of the energy company’s stock worth $340,236,000 after buying an additional 3,114,656 shares in the last quarter. Marshall Wace LLP lifted its holdings in shares of Devon Energy by 135.5% in the fourth quarter. Marshall Wace LLP now owns 5,371,518 shares of the energy company’s stock valued at $175,810,000 after buying an additional 3,090,585 shares during the period. Finally, Invesco Ltd. boosted its stake in Devon Energy by 32.8% during the fourth 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. 69.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on DVN. Royal Bank of Canada cut their price target on shares of Devon Energy from $49.00 to $40.00 and set a “sector perform” rating for the company in a report on Monday, April 14th. The Goldman Sachs Group increased their target price on shares of Devon Energy from $38.00 to $43.00 and gave the company a “buy” rating in a research note on Thursday, May 15th. Scotiabank reduced their target price on shares of Devon Energy from $45.00 to $35.00 and set a “sector outperform” rating for the company in a report on Friday, April 11th. JPMorgan Chase & Co. dropped their price target on Devon Energy from $48.00 to $42.00 and set a “neutral” rating on the stock in a report on Thursday, March 13th. Finally, Citigroup reduced their price objective on Devon Energy from $46.00 to $43.00 and set a “buy” rating for the company in a research note on Friday, April 4th. Ten investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $43.71.

Devon Energy Price Performance

Shares of DVN opened at $34.49 on Thursday. 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 firm has a market cap of $22.15 billion, a PE ratio of 7.56, a PEG ratio of 1.20 and a beta of 1.02. The firm’s 50 day moving average price is $31.10 and its 200 day moving average price is $33.70. Devon Energy Co. has a twelve month low of $25.89 and a twelve month high of $49.35.

Devon Energy (NYSE:DVN) last released its quarterly earnings results on Tuesday, May 6th. The energy company reported $1.21 earnings per share for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.06). Devon Energy had a net margin of 18.14% and a return on equity of 22.52%. The business had revenue of $4.45 billion for the quarter, compared to the consensus estimate of $4.31 billion. During the same quarter in the prior year, the business posted $1.16 EPS. The firm’s revenue for the quarter was up 23.8% compared to the same quarter last year. As a group, research analysts expect that Devon Energy Co. will post 4.85 EPS for the current fiscal year.

Devon Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date of this dividend is Friday, June 13th. Devon Energy’s dividend payout ratio is 21.87%.

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.