Tokio Marine Asset Management Co. Ltd. Acquires 2,406 Shares of Devon Energy Co. (NYSE:DVN)

Tokio Marine Asset Management Co. Ltd. raised its holdings in Devon Energy Co. (NYSE:DVN) by 11.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 24,015 shares of the energy company’s stock after purchasing an additional 2,406 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Devon Energy were worth $786,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of DVN. Bridgewater Associates LP acquired a new position in shares of Devon Energy in the 3rd quarter valued at approximately $9,426,000. Legacy Investment Solutions LLC acquired a new position in shares of Devon Energy in the 3rd quarter valued at approximately $8,002,000. Petrus Trust Company LTA raised its position in shares of 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 buying an additional 17,415 shares in the last quarter. CIBC Asset Management Inc raised its position in shares of 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 buying an additional 6,358 shares in the last quarter. Finally, Smead Capital Management Inc. raised its position in shares of 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 buying an additional 198,193 shares in the last quarter. Institutional investors own 69.72% of the company’s stock.

Devon Energy Trading Up 2.1 %

NYSE:DVN opened at $34.46 on Wednesday. The firm’s fifty day moving average is $34.73 and its 200-day moving average is $39.22. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.11. Devon Energy Co. has a 52 week low of $30.39 and a 52 week high of $55.09. The firm has a market cap of $22.63 billion, a P/E ratio of 6.39, a P/E/G ratio of 1.07 and a beta of 1.98.

Devon Energy (NYSE:DVN) last posted its quarterly earnings data on Tuesday, November 5th. The energy company reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.01. The company had revenue of $4.02 billion for the quarter, compared to analyst estimates of $3.72 billion. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%. The company’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.65 EPS. Equities analysts expect that Devon Energy Co. will post 4.68 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Benchmark upgraded shares of Devon Energy from a “hold” rating to a “buy” rating and set a $44.00 target price for the company in a research report on Tuesday, January 14th. TD Cowen lowered their price objective on shares of Devon Energy from $54.00 to $46.00 and set a “hold” rating for the company in a research report on Tuesday, November 5th. Raymond James upped their price objective on shares of Devon Energy from $53.00 to $54.00 and gave the stock an “outperform” rating in a research report on Thursday, January 23rd. Scotiabank lowered their price objective on shares of Devon Energy from $60.00 to $48.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Finally, Wolfe Research upgraded shares of Devon Energy from a “peer perform” rating to an “outperform” rating and set a $45.00 price objective for the company in a research report on Friday, January 3rd. Nine research 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, the company has an average rating of “Moderate Buy” and an average target price of $49.45.

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.