Kentucky Retirement Systems Has $1.41 Million Stock Holdings in Devon Energy Co. (NYSE:DVN)

Kentucky Retirement Systems lessened its holdings in shares of Devon Energy Co. (NYSE:DVN) by 1.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 43,032 shares of the energy company’s stock after selling 593 shares during the quarter. Kentucky Retirement Systems’ holdings in Devon Energy were worth $1,408,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Legacy Investment Solutions LLC acquired a new position in shares of Devon Energy during the 3rd quarter worth about $8,002,000. Bridgewater Associates LP acquired a new position in Devon Energy in the 3rd quarter valued at approximately $9,426,000. Petrus Trust Company LTA raised its holdings in Devon Energy by 394.7% in the 3rd quarter. Petrus Trust Company LTA now owns 21,827 shares of the energy company’s stock valued at $854,000 after acquiring an additional 17,415 shares in the last quarter. CIBC Asset Management Inc raised its holdings in Devon Energy by 6.3% in the 3rd quarter. CIBC Asset Management Inc now owns 107,182 shares of the energy company’s stock valued at $4,193,000 after acquiring an additional 6,358 shares in the last quarter. Finally, Smead Capital Management Inc. raised its holdings in Devon Energy by 3.5% in the 3rd quarter. Smead Capital Management Inc. now owns 5,879,516 shares of the energy company’s stock valued at $230,007,000 after acquiring an additional 198,193 shares in the last quarter. Institutional investors and hedge funds own 69.72% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on DVN. Susquehanna upped their price target on Devon Energy from $50.00 to $52.00 and gave the company a “positive” rating in a report on Thursday. Mizuho cut their price target on Devon Energy from $51.00 to $47.00 and set an “outperform” rating for the company in a report on Monday, December 16th. JPMorgan Chase & Co. cut Devon Energy from an “overweight” rating to a “neutral” rating and set a $43.00 price target for the company. in a report on Thursday, December 5th. Sanford C. Bernstein upgraded Devon Energy from a “market perform” rating to an “outperform” rating and set a $45.00 price objective on the stock in a research note on Wednesday, January 15th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $50.00 price objective on shares of Devon Energy in a research note on Friday, January 10th. Ten investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $48.83.

Devon Energy Stock Performance

Shares of Devon Energy stock opened at $37.49 on Monday. The company has a market capitalization of $24.33 billion, a PE ratio of 8.22, a PEG ratio of 1.20 and a beta of 1.98. Devon Energy Co. has a 12 month low of $30.39 and a 12 month high of $55.09. The company has a current ratio of 1.04, a quick ratio of 1.01 and a debt-to-equity ratio of 0.57. The stock’s fifty day simple moving average is $34.47 and its 200 day simple moving average is $38.31.

Devon Energy (NYSE:DVN) last issued its quarterly earnings data on Tuesday, February 18th. The energy company reported $1.16 EPS for the quarter, topping the consensus estimate of $1.00 by $0.16. The business had revenue of $4.40 billion for the quarter, compared to the consensus estimate of $4.25 billion. Devon Energy had a return on equity of 22.52% and a net margin of 18.14%. On average, research analysts predict that Devon Energy Co. will post 4.85 EPS for the current year.

Devon Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.56%. The ex-dividend date of this dividend is Friday, March 14th. This is an increase from Devon Energy’s previous quarterly dividend of $0.22. Devon Energy’s dividend payout ratio (DPR) is presently 19.30%.

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.