Dimensional Fund Advisors LP Has $483.48 Million Holdings in Devon Energy Corporation $DVN

Dimensional Fund Advisors LP increased its stake in shares of Devon Energy Corporation (NYSE:DVN) by 2.5% in the 1st quarter, HoldingsChannel.com reports. The firm owned 9,606,131 shares of the energy company’s stock after buying an additional 235,561 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Devon Energy were worth $483,475,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Parallel Advisors LLC grew its stake in shares of Devon Energy by 21.3% in the 1st quarter. Parallel Advisors LLC now owns 19,754 shares of the energy company’s stock valued at $994,000 after buying an additional 3,469 shares in the last quarter. KBC Group NV increased its stake in shares of Devon Energy by 13.0% in the first quarter. KBC Group NV now owns 87,369 shares of the energy company’s stock worth $4,396,000 after purchasing an additional 10,082 shares during the period. True North Advisors LLC lifted its holdings in shares of Devon Energy by 66.8% during the first quarter. True North Advisors LLC now owns 9,838 shares of the energy company’s stock worth $495,000 after buying an additional 3,940 shares during the last quarter. Swiss National Bank raised its stake in Devon Energy by 5.8% during the 1st quarter. Swiss National Bank now owns 1,748,939 shares of the energy company’s stock valued at $88,007,000 after purchasing an additional 96,300 shares during the last quarter. Finally, AIA Group Ltd raised its position in shares of Devon Energy by 27.3% during the first quarter. AIA Group Ltd now owns 128,115 shares of the energy company’s stock valued at $6,447,000 after buying an additional 27,503 shares during the last quarter. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Insider Buying and Selling at Devon Energy

In other news, SVP Adam M. Vela sold 24,342 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $47.21, for a total value of $1,149,185.82. Following the completion of the sale, the senior vice president directly owned 130,540 shares of the company’s stock, valued at $6,162,793.40. This trade represents a 15.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Jeffrey L. Ritenour sold 70,029 shares of the firm’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $46.66, for a total value of $3,267,553.14. Following the sale, the executive vice president directly owned 428,452 shares of the company’s stock, valued at $19,991,570.32. This represents a 14.05% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 112,371 shares of company stock worth $5,258,059 over the last 90 days. Company insiders own 4.58% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on DVN. Wall Street Zen cut Devon Energy from a “buy” rating to a “hold” rating in a research report on Sunday, June 21st. Barclays boosted their target price on Devon Energy from $54.00 to $62.00 and gave the stock an “overweight” rating in a report on Tuesday, May 26th. Susquehanna increased their price objective on shares of Devon Energy from $52.00 to $57.00 and gave the stock a “positive” rating in a report on Tuesday, April 21st. JPMorgan Chase & Co. lowered their target price on Devon Energy from $62.00 to $55.00 and set an “overweight” rating for the company in a research note on Wednesday, July 8th. Finally, Raymond James Financial dropped their price target on shares of Devon Energy from $66.00 to $64.00 and set a “strong-buy” rating for the company in a research note on Thursday. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $59.32.

Devon Energy Stock Down 0.1%

Devon Energy stock opened at $43.80 on Tuesday. The company has a current ratio of 1.01, a quick ratio of 0.94 and a debt-to-equity ratio of 0.48. The company has a fifty day simple moving average of $44.32 and a 200 day simple moving average of $44.18. The company has a market cap of $27.22 billion, a P/E ratio of 12.20 and a beta of 0.38. Devon Energy Corporation has a 1-year low of $31.47 and a 1-year high of $52.71.

Devon Energy (NYSE:DVN) last released its earnings results on Tuesday, May 5th. The energy company reported $1.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.06 by ($0.02). Devon Energy had a return on equity of 15.22% and a net margin of 13.71%.The company had revenue of $3.81 billion for the quarter, compared to the consensus estimate of $4.34 billion. During the same quarter in the previous year, the company posted $0.82 EPS. The business’s revenue was down 14.5% on a year-over-year basis. Research analysts anticipate that Devon Energy Corporation will post 4.61 earnings per share for the current fiscal year.

Devon Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend was Monday, June 15th. This is a positive change from Devon Energy’s previous quarterly dividend of $0.24. Devon Energy’s payout ratio is currently 35.65%.

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.