Devon Energy Co. (NYSE:DVN) Shares Purchased by OLD National Bancorp IN

OLD National Bancorp IN boosted its holdings in Devon Energy Co. (NYSE:DVN) by 65.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,362 shares of the energy company’s stock after purchasing an additional 2,925 shares during the quarter. OLD National Bancorp IN’s holdings in Devon Energy were worth $333,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in Devon Energy during the third quarter worth about $27,000. Sound Income Strategies LLC increased its stake in Devon Energy by 60.7% during the fourth quarter. Sound Income Strategies LLC now owns 675 shares of the energy company’s stock worth $31,000 after acquiring an additional 255 shares during the last quarter. Rise Advisors LLC increased its stake in 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 acquiring an additional 669 shares during the last quarter. PFS Partners LLC acquired a new stake in Devon Energy during the fourth quarter worth about $36,000. Finally, Naples Money Management LLC acquired a new stake in Devon Energy during the fourth quarter worth about $40,000. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have commented on DVN. JPMorgan Chase & Co. upped their price target on Devon Energy from $57.00 to $62.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. Morgan Stanley increased their target price on Devon Energy from $49.00 to $50.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Citigroup increased their target price on Devon Energy from $55.00 to $62.00 and gave the company a “buy” rating in a research note on Thursday, April 11th. Scotiabank increased their target price on Devon Energy from $53.00 to $67.00 and gave the company a “sector outperform” rating in a research note on Thursday, April 11th. Finally, Mizuho lowered their target price on Devon Energy from $54.00 to $53.00 and set a “buy” rating for the company in a research note on Thursday, January 11th. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $58.33.

Devon Energy Trading Up 1.0 %

NYSE:DVN opened at $52.62 on Friday. The company has a quick ratio of 0.99, a current ratio of 1.07 and a debt-to-equity ratio of 0.46. The business’s 50 day moving average is $48.70 and its two-hundred day moving average is $46.13. Devon Energy Co. has a 52 week low of $40.47 and a 52 week high of $55.09. The company has a market cap of $33.41 billion, a PE ratio of 9.02 and a beta of 2.19.

Devon Energy (NYSE:DVN) last released its earnings results on Tuesday, February 27th. The energy company reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.02. The company had revenue of $4.15 billion for the quarter, compared to the consensus estimate of $3.88 billion. Devon Energy had a return on equity of 31.72% and a net margin of 24.56%. Devon Energy’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.66 EPS. On average, analysts predict that Devon Energy Co. will post 5.25 EPS for the current year.

Devon Energy Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were issued a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 3.35%. The ex-dividend date of this dividend was Thursday, March 14th. Devon Energy’s dividend payout ratio (DPR) is 15.09%.

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.