Fifth Third Bancorp Purchases 2,748 Shares of Devon Energy Co. (NYSE:DVN)

Fifth Third Bancorp lifted its position in shares of Devon Energy Co. (NYSE:DVNFree Report) by 11.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 27,637 shares of the energy company’s stock after acquiring an additional 2,748 shares during the quarter. Fifth Third Bancorp’s holdings in Devon Energy were worth $905,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Riversedge Advisors LLC lifted its position in Devon Energy by 3.6% during the 3rd quarter. Riversedge Advisors LLC now owns 7,336 shares of the energy company’s stock valued at $287,000 after purchasing an additional 253 shares during the period. Modus Advisors LLC lifted its holdings in Devon Energy by 2.4% in the third quarter. Modus Advisors LLC now owns 11,439 shares of the energy company’s stock valued at $447,000 after buying an additional 272 shares during the period. Hazlett Burt & Watson Inc. boosted its stake in Devon Energy by 29.8% in the third quarter. Hazlett Burt & Watson Inc. now owns 1,263 shares of the energy company’s stock valued at $49,000 after acquiring an additional 290 shares during the last quarter. Sfmg LLC grew its holdings in Devon Energy by 0.5% during the 3rd quarter. Sfmg LLC now owns 64,871 shares of the energy company’s stock worth $2,538,000 after acquiring an additional 294 shares during the period. Finally, Hexagon Capital Partners LLC raised its position in shares of Devon Energy by 4.0% during the 3rd quarter. Hexagon Capital Partners LLC now owns 8,001 shares of the energy company’s stock valued at $313,000 after acquiring an additional 310 shares during the last quarter. Institutional investors and hedge funds own 69.72% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on DVN shares. JPMorgan Chase & Co. lowered Devon Energy from an “overweight” rating to a “neutral” rating and set a $43.00 price target on the stock. in a research report on Thursday, December 5th. Scotiabank decreased their target price on Devon Energy from $60.00 to $48.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Susquehanna cut their price target on shares of Devon Energy from $63.00 to $62.00 and set a “positive” rating on the stock in a research report on Friday, October 18th. BMO Capital Markets decreased their price objective on shares of Devon Energy from $52.00 to $48.00 and set an “outperform” rating for the company in a report on Friday, October 4th. Finally, Jefferies Financial Group assumed coverage on shares of Devon Energy in a report on Thursday, October 3rd. They issued a “hold” rating and a $45.00 target price on the stock. Nine equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $49.45.

Check Out Our Latest Analysis on DVN

Devon Energy Trading Up 0.5 %

Devon Energy stock opened at $35.05 on Thursday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.11 and a quick ratio of 1.01. The firm has a 50-day moving average of $35.07 and a 200-day moving average of $39.67. The company has a market cap of $23.02 billion, a price-to-earnings ratio of 6.50, a P/E/G ratio of 1.21 and a beta of 2.00. Devon Energy Co. has a one year low of $30.39 and a one year high of $55.09.

Devon Energy (NYSE:DVNGet Free Report) last issued its quarterly earnings results on Tuesday, November 5th. The energy company reported $1.10 EPS for the quarter, beating the consensus estimate of $1.09 by $0.01. Devon Energy had a return on equity of 24.73% and a net margin of 21.71%. The firm had revenue of $4.02 billion during the quarter, compared to analysts’ expectations of $3.72 billion. During the same period in the prior year, the firm posted $1.65 earnings per share. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. On average, equities analysts expect that Devon Energy Co. will post 4.7 earnings per share for the current fiscal year.

Devon Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Friday, December 13th were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.51%. The ex-dividend date of this dividend was Friday, December 13th. Devon Energy’s dividend payout ratio (DPR) is currently 16.33%.

About Devon Energy

(Free Report)

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.

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

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