Louisiana State Employees Retirement System Has $1.38 Million Holdings in Devon Energy Co. (NYSE:DVN)

Louisiana State Employees Retirement System lessened its stake in Devon Energy Co. (NYSE:DVN) by 1.4% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 35,300 shares of the energy company’s stock after selling 500 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Devon Energy were worth $1,381,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of Devon Energy by 7.4% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 3,046 shares of the energy company’s stock valued at $153,000 after buying an additional 209 shares during the period. Annex Advisory Services LLC lifted its position in shares of Devon Energy by 0.8% in the second quarter. Annex Advisory Services LLC now owns 27,651 shares of the energy company’s stock worth $1,311,000 after purchasing an additional 223 shares in the last quarter. Versant Capital Management Inc lifted its position in shares of Devon Energy by 30.4% in the second quarter. Versant Capital Management Inc now owns 970 shares of the energy company’s stock worth $46,000 after purchasing an additional 226 shares in the last quarter. Magnolia Capital Advisors LLC lifted its position in shares of Devon Energy by 1.0% in the first quarter. Magnolia Capital Advisors LLC now owns 23,316 shares of the energy company’s stock worth $1,208,000 after purchasing an additional 230 shares in the last quarter. Finally, Archer Investment Corp lifted its position in shares of Devon Energy by 2.8% in the second quarter. Archer Investment Corp now owns 8,535 shares of the energy company’s stock worth $405,000 after purchasing an additional 235 shares in the last quarter. Institutional investors and hedge funds own 69.72% of the company’s stock.

Devon Energy Price Performance

Shares of DVN opened at $38.32 on Friday. The firm has a market capitalization of $24.00 billion, a PE ratio of 6.95, a PEG ratio of 1.18 and a beta of 2.02. The company’s 50-day moving average is $41.04 and its 200-day moving average is $45.33. Devon Energy Co. has a fifty-two week low of $37.76 and a fifty-two week high of $55.09. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.11 and a quick ratio of 1.03.

Devon Energy (NYSE:DVN) last issued its quarterly earnings data on Tuesday, August 6th. The energy company reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.15. Devon Energy had a net margin of 22.60% and a return on equity of 29.14%. The company had revenue of $3.92 billion for the quarter, compared to analyst estimates of $3.90 billion. During the same period in the prior year, the firm earned $1.18 earnings per share. The company’s revenue was up 13.4% on a year-over-year basis. Equities analysts forecast that Devon Energy Co. will post 4.93 EPS for the current year.

Devon Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were paid a $0.22 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.88 annualized dividend and a dividend yield of 2.30%. Devon Energy’s dividend payout ratio (DPR) is presently 15.97%.

Wall Street Analyst Weigh In

DVN has been the topic of a number of research reports. Mizuho cut their price objective on shares of Devon Energy from $53.00 to $51.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 9th. StockNews.com lowered shares of Devon Energy from a “buy” rating to a “hold” rating in a research report on Monday, September 2nd. Wolfe Research assumed coverage on shares of Devon Energy in a research report on Thursday, July 18th. They issued a “peer perform” rating on the stock. BMO Capital Markets dropped their price target on shares of Devon Energy from $52.00 to $48.00 and set an “outperform” rating on the stock in a research report on Friday, October 4th. Finally, Barclays dropped their price target on shares of Devon Energy from $55.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 3rd. Nine equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $52.53.

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.