Stoneridge Investment Partners LLC Acquires Shares of 23,663 Devon Energy Corp (DVN)

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Stoneridge Investment Partners LLC acquired a new stake in shares of Devon Energy Corp (NYSE:DVN) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 23,663 shares of the energy company’s stock, valued at approximately $533,000.

Several other hedge funds have also bought and sold shares of the stock. Winslow Evans & Crocker Inc. purchased a new stake in shares of Devon Energy during the fourth quarter worth about $26,000. Duncker Streett & Co. Inc. grew its stake in shares of Devon Energy by 40.5% during the fourth quarter. Duncker Streett & Co. Inc. now owns 1,600 shares of the energy company’s stock worth $36,000 after acquiring an additional 461 shares during the last quarter. NuWave Investment Management LLC grew its stake in shares of Devon Energy by 742.0% during the fourth quarter. NuWave Investment Management LLC now owns 3,528 shares of the energy company’s stock worth $80,000 after acquiring an additional 3,109 shares during the last quarter. Atlas Capital Advisors LLC purchased a new stake in shares of Devon Energy during the third quarter worth about $119,000. Finally, First Interstate Bank grew its stake in shares of Devon Energy by 74.2% during the fourth quarter. First Interstate Bank now owns 6,455 shares of the energy company’s stock worth $145,000 after acquiring an additional 2,750 shares during the last quarter. 82.79% of the stock is owned by hedge funds and other institutional investors.

DVN has been the topic of a number of research analyst reports. Royal Bank of Canada dropped their price target on Devon Energy from $58.00 to $56.00 and set a “buy” rating on the stock in a research note on Thursday, November 8th. Johnson Rice lowered Devon Energy from a “buy” rating to an “accumulate” rating in a research note on Tuesday, January 8th. Cowen initiated coverage on Devon Energy in a research note on Thursday, November 29th. They set a “market perform” rating on the stock. Zacks Investment Research upgraded Devon Energy from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a research note on Tuesday, October 16th. Finally, Stifel Nicolaus restated a “buy” rating and set a $50.00 price target on shares of Devon Energy in a research note on Tuesday, November 27th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and sixteen have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $46.36.

Shares of NYSE DVN opened at $25.44 on Tuesday. The company has a market capitalization of $11.67 billion, a P/E ratio of 40.38, a PEG ratio of 1.52 and a beta of 2.23. Devon Energy Corp has a 52 week low of $20.37 and a 52 week high of $46.54. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.48 and a current ratio of 1.48.

The company also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 15th will be given a $0.08 dividend. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $0.32 dividend on an annualized basis and a yield of 1.26%. Devon Energy’s dividend payout ratio is currently 50.79%.

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About Devon Energy

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 14,600 gross wells. The company also offers gathering, transmission, processing, storage, fractionation, and marketing to upstream oil and natural gas producers; and owns natural gas pipelines, plants and treatment facilities.

See Also: Diversification in Your Portfolio

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Institutional Ownership by Quarter for Devon Energy (NYSE:DVN)

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