New York State Common Retirement Fund Has $15.03 Million Stock Holdings in Devon Energy Co. (NYSE:DVN)

New York State Common Retirement Fund cut its holdings in Devon Energy Co. (NYSE:DVN) by 8.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 459,312 shares of the energy company’s stock after selling 41,322 shares during the period. New York State Common Retirement Fund’s holdings in Devon Energy were worth $15,033,000 as of its most recent filing with the SEC.

Several other institutional investors also recently added to or reduced their stakes in DVN. EnCap Energy Capital Fund XI L.P. acquired a new stake in Devon Energy during the third quarter valued at approximately $461,857,000. EnCap Partners GP LLC bought a new stake in shares of Devon Energy during the third quarter worth $408,653,000. EnCap Energy Capital Fund X L.P. acquired a new stake in shares of Devon Energy in the third quarter valued at $230,928,000. International Assets Investment Management LLC raised its holdings in shares of Devon Energy by 4,125.7% in the third quarter. International Assets Investment Management LLC now owns 2,280,961 shares of the energy company’s stock valued at $89,231,000 after buying an additional 2,226,983 shares during the last quarter. Finally, Pacer Advisors Inc. lifted its position in Devon Energy by 16.9% during the 3rd quarter. Pacer Advisors Inc. now owns 11,591,168 shares of the energy company’s stock worth $453,446,000 after buying an additional 1,677,652 shares in the last quarter. 69.72% of the stock is owned by institutional investors.

Devon Energy Price Performance

Shares of NYSE DVN opened at $37.49 on Monday. The company has a fifty day moving average price of $34.47 and a 200 day moving average price of $38.31. Devon Energy Co. has a 1-year low of $30.39 and a 1-year high of $55.09. The firm has a market cap of $24.33 billion, a PE ratio of 8.22, a PEG ratio of 1.20 and a beta of 1.98. The company has a current ratio of 1.04, a quick ratio of 1.01 and a debt-to-equity ratio of 0.57.

Devon Energy (NYSE:DVN) last released its earnings results on Tuesday, February 18th. The energy company reported $1.16 EPS for the quarter, beating the consensus estimate of $1.00 by $0.16. The firm had revenue of $4.40 billion for the quarter, compared to analysts’ expectations of $4.25 billion. Devon Energy had a return on equity of 22.52% and a net margin of 18.14%. Research analysts predict that Devon Energy Co. will post 4.85 earnings per share for the current fiscal year.

Devon Energy Increases Dividend

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

Wall Street Analyst Weigh In

DVN has been the subject of a number of research analyst reports. Susquehanna boosted their target price on shares of Devon Energy from $50.00 to $52.00 and gave the stock a “positive” rating in a research note on Thursday. Wells Fargo & Company dropped their price objective on shares of Devon Energy from $49.00 to $43.00 and set an “overweight” rating for the company in a research report on Tuesday, December 17th. TD Cowen decreased their price objective on Devon Energy from $54.00 to $46.00 and set a “hold” rating on the stock in a research report on Tuesday, November 5th. Sanford C. Bernstein upgraded Devon Energy from a “market perform” rating to an “outperform” rating and set a $45.00 price objective for the company in a research report on Wednesday, January 15th. Finally, Wolfe Research upgraded shares of Devon Energy from a “peer perform” rating to an “outperform” rating and set a $45.00 target price on the stock in a research report on Friday, January 3rd. Ten equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Devon Energy has an average rating of “Moderate Buy” and an average target price of $48.83.

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.