Swiss National Bank Has $90.76 Million Position in Devon Energy Co. (NYSE:DVN)

Swiss National Bank decreased its holdings in shares of Devon Energy Co. (NYSE:DVN) by 2.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,003,539 shares of the energy company’s stock after selling 60,400 shares during the period. Swiss National Bank owned approximately 0.31% of Devon Energy worth $90,760,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Triumph Capital Management purchased a new position in Devon Energy during the 4th quarter worth $212,000. Victory Capital Management Inc. increased its stake in Devon Energy by 0.8% in the 4th quarter. Victory Capital Management Inc. now owns 8,539,335 shares of the energy company’s stock valued at $386,832,000 after buying an additional 68,339 shares during the last quarter. Berry Wealth Group LP purchased a new stake in Devon Energy in the 4th quarter valued at about $3,397,000. MONECO Advisors LLC lifted its position in shares of Devon Energy by 8.0% during the 4th quarter. MONECO Advisors LLC now owns 14,362 shares of the energy company’s stock worth $651,000 after buying an additional 1,063 shares in the last quarter. Finally, Brighton Jones LLC boosted its stake in shares of Devon Energy by 10.1% in the 4th quarter. Brighton Jones LLC now owns 8,008 shares of the energy company’s stock worth $363,000 after buying an additional 737 shares during the last quarter. 69.72% of the stock is owned by institutional investors.

Devon Energy Price Performance

Shares of NYSE DVN opened at $50.54 on Friday. The stock has a fifty day moving average of $49.62 and a 200-day moving average of $46.28. The stock has a market cap of $32.09 billion, a PE ratio of 9.65 and a beta of 2.16. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.99 and a current ratio of 1.04. Devon Energy Co. has a fifty-two week low of $40.47 and a fifty-two week high of $55.09.

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

Devon Energy Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date of this dividend is Friday, June 14th. Devon Energy’s dividend payout ratio (DPR) is presently 16.79%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on DVN shares. Stifel Nicolaus lifted their price target on Devon Energy from $65.00 to $66.00 and gave the stock a “buy” rating in a report on Tuesday, April 23rd. Susquehanna boosted their price target on shares of Devon Energy from $52.00 to $65.00 and gave the stock a “positive” rating in a report on Monday, April 22nd. Morgan Stanley raised their price objective on shares of Devon Energy from $49.00 to $50.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. Citigroup lifted their price objective on shares of Devon Energy from $55.00 to $62.00 and gave the stock a “buy” rating in a research report on Thursday, April 11th. Finally, Scotiabank increased their target price on shares of Devon Energy from $53.00 to $67.00 and gave the company a “sector outperform” rating in a research report on Thursday, April 11th. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, Devon Energy has an average rating of “Moderate Buy” and a consensus price target of $58.44.

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.