Oregon Public Employees Retirement Fund Purchases 17,195 Shares of Devon Energy Corporation $DVN

Oregon Public Employees Retirement Fund grew its position in shares of Devon Energy Corporation (NYSE:DVN) by 31.0% in the third quarter, according to its most recent filing with the SEC. The fund owned 72,584 shares of the energy company’s stock after acquiring an additional 17,195 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Devon Energy were worth $2,545,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. PFS Partners LLC purchased a new stake in Devon Energy during the third quarter valued at $25,000. Opal Wealth Advisors LLC purchased a new stake in shares of Devon Energy during the 2nd quarter valued at about $25,000. Caldwell Trust Co purchased a new stake in shares of Devon Energy during the 2nd quarter valued at about $25,000. Trust Co. of Vermont lifted its holdings in shares of Devon Energy by 241.3% in the 2nd quarter. Trust Co. of Vermont now owns 942 shares of the energy company’s stock valued at $30,000 after acquiring an additional 666 shares during the last quarter. Finally, American National Bank & Trust grew its position in Devon Energy by 2,638.9% in the third quarter. American National Bank & Trust now owns 986 shares of the energy company’s stock worth $35,000 after acquiring an additional 950 shares in the last quarter. 69.72% of the stock is owned by hedge funds and other institutional investors.

Devon Energy Stock Performance

Shares of Devon Energy stock opened at $35.72 on Tuesday. The company has a quick ratio of 0.87, a current ratio of 0.96 and a debt-to-equity ratio of 0.48. The stock’s fifty day moving average is $36.02 and its two-hundred day moving average is $34.56. Devon Energy Corporation has a 52 week low of $25.89 and a 52 week high of $38.88. The company has a market capitalization of $22.41 billion, a PE ratio of 8.41, a price-to-earnings-growth ratio of 2.93 and a beta of 0.60.

Devon Energy (NYSE:DVN) last released its earnings results on Wednesday, November 5th. The energy company reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.11. The business had revenue of $0.00 million during the quarter, compared to the consensus estimate of $4.10 billion. Devon Energy had a return on equity of 18.14% and a net margin of 15.56%.During the same period last year, the company earned $1.10 earnings per share. As a group, analysts expect that Devon Energy Corporation will post 4.85 earnings per share for the current year.

Devon Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 30th. Shareholders of record on Monday, December 15th were given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend was Monday, December 15th. Devon Energy’s payout ratio is 22.59%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on DVN. Citigroup upped their price objective on Devon Energy from $43.00 to $44.00 and gave the company a “buy” rating in a research report on Wednesday, December 17th. Sanford C. Bernstein decreased their price target on Devon Energy from $48.00 to $42.00 and set an “outperform” rating on the stock in a report on Monday, January 5th. Susquehanna raised their price target on Devon Energy from $40.00 to $42.00 and gave the stock a “positive” rating in a research report on Wednesday, November 12th. Johnson Rice dropped their price objective on shares of Devon Energy from $70.00 to $62.00 and set a “buy” rating for the company in a research note on Friday, December 5th. Finally, BMO Capital Markets reduced their target price on shares of Devon Energy from $50.00 to $48.00 and set an “outperform” rating on the stock in a research note on Monday, December 15th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $44.62.

Devon Energy Profile

Devon Energy Corporation (NYSE: DVN) is an independent oil and gas exploration and production company headquartered in Oklahoma City, Oklahoma. The company focuses on the exploration, development, production and marketing of hydrocarbons, including crude oil, natural gas liquids (NGLs) and natural gas. Devon operates as an upstream energy company that acquires, evaluates and develops onshore resource plays using a combination of drilling, completion and production optimization techniques.

Core business activities include identifying and developing energy reserves, operating well programs and managing reservoir performance to generate production and cash flow.