Virtus ETF Advisers LLC Raises Position in Devon Energy Co. (NYSE:DVN)

Virtus ETF Advisers LLC grew its holdings in shares of Devon Energy Co. (NYSE:DVN) by 22.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,336 shares of the energy company’s stock after acquiring an additional 786 shares during the period. Virtus ETF Advisers LLC’s holdings in Devon Energy were worth $142,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of DVN. Morse Asset Management Inc bought a new stake in shares of Devon Energy during the 3rd quarter valued at $126,000. Virtu Financial LLC bought a new stake in shares of Devon Energy during the 3rd quarter valued at $7,468,000. Pine Valley Investments Ltd Liability Co bought a new stake in shares of Devon Energy during the 3rd quarter valued at $209,000. World Investment Advisors LLC grew its position in shares of 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 acquiring an additional 145,216 shares during the period. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of Devon Energy during the 3rd quarter valued at $1,576,000. Institutional investors own 69.72% of the company’s stock.

Devon Energy Stock Down 0.3 %

Shares of NYSE DVN opened at $31.37 on Monday. The firm’s 50-day moving average price is $33.56 and its 200-day moving average price is $35.36. 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 has a market capitalization of $20.36 billion, a price-to-earnings ratio of 6.88, a P/E/G ratio of 1.20 and a beta of 1.50. Devon Energy Co. has a 12-month low of $25.89 and a 12-month high of $53.20.

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

Devon Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were given a $0.24 dividend. This is a positive change from Devon Energy’s previous quarterly dividend of $0.22. This represents a $0.96 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date of this dividend was Friday, March 14th. Devon Energy’s dividend payout ratio is 21.05%.

Wall Street Analysts Forecast Growth

DVN has been the subject of a number of recent research reports. Barclays cut their price objective on shares of Devon Energy from $44.00 to $38.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 23rd. Cowen downgraded shares of Devon Energy to a “hold” rating and dropped their target price for the stock from $46.00 to $45.00 in a report on Tuesday, February 18th. Royal Bank of Canada dropped their target price on shares of Devon Energy from $49.00 to $40.00 and set a “sector perform” rating for the company in a report on Monday, April 14th. Scotiabank dropped their target price on shares of Devon Energy from $45.00 to $35.00 and set a “sector outperform” rating for the company in a report on Friday, April 11th. Finally, StockNews.com raised shares of Devon Energy from a “sell” rating to a “hold” rating in a report on Friday, January 3rd. Ten equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $44.83.

About Devon Energy

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.