Rockefeller Capital Management L.P. Has $14.32 Million Stake in Devon Energy Co. (NYSE:DVN)

Rockefeller Capital Management L.P. lifted its stake in Devon Energy Co. (NYSE:DVN) by 45.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 437,397 shares of the energy company’s stock after purchasing an additional 137,599 shares during the period. Rockefeller Capital Management L.P.’s holdings in Devon Energy were worth $14,323,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the stock. Morse Asset Management Inc bought a new stake in shares of Devon Energy during the third quarter worth $126,000. Virtu Financial LLC acquired a new stake in Devon Energy in the third quarter worth about $7,468,000. Pine Valley Investments Ltd Liability Co bought a new stake in Devon Energy during the 3rd quarter worth about $209,000. World Investment Advisors LLC lifted its position in Devon Energy by 3,440.3% during the 3rd quarter. World Investment Advisors LLC now owns 149,437 shares of the energy company’s stock valued at $5,846,000 after purchasing an additional 145,216 shares during the period. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Devon Energy in the 3rd quarter valued at about $1,576,000. Institutional investors own 69.72% of the company’s stock.

Devon Energy Stock Performance

Shares of Devon Energy stock opened at $28.51 on Wednesday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 1.01. The firm has a market cap of $18.50 billion, a price-to-earnings ratio of 6.25, a price-to-earnings-growth ratio of 1.20 and a beta of 1.50. The stock’s 50-day moving average is $34.17 and its 200-day moving average is $36.00. Devon Energy Co. has a one year low of $25.89 and a one year high of $53.20.

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%. Equities 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 was paid on Monday, March 31st. Investors of record on Friday, March 14th were given a $0.24 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.96 dividend on an annualized basis and a yield of 3.37%. This is an increase from Devon Energy’s previous quarterly dividend of $0.22. Devon Energy’s dividend payout ratio (DPR) is 21.05%.

Wall Street Analyst Weigh In

DVN has been the topic of several analyst reports. Scotiabank cut their price objective on shares of Devon Energy from $45.00 to $35.00 and set a “sector outperform” rating on the stock in a report on Friday, April 11th. Susquehanna lifted their price objective on Devon Energy from $50.00 to $52.00 and gave the stock a “positive” rating in a research note on Thursday, February 20th. Citigroup dropped their price objective on Devon Energy from $46.00 to $43.00 and set a “buy” rating for the company in a report on Friday, April 4th. Wolfe Research upgraded Devon Energy from a “peer perform” rating to an “outperform” rating and set a $45.00 target price on the stock in a report on Friday, January 3rd. Finally, JPMorgan Chase & Co. lowered their price target on Devon Energy from $48.00 to $42.00 and set a “neutral” rating for the company in a research note on Thursday, March 13th. Ten research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $46.71.

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.