Los Angeles Capital Management LLC Has $859,000 Stock Holdings in Devon Energy Co. (NYSE:DVN)

Los Angeles Capital Management LLC decreased its stake in shares of Devon Energy Co. (NYSE:DVN) by 97.9% during the 4th quarter, Holdings Channel reports. The institutional investor owned 26,248 shares of the energy company’s stock after selling 1,196,639 shares during the period. Los Angeles Capital Management LLC’s holdings in Devon Energy were worth $859,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Capital Performance Advisors LLP acquired a new stake in shares of Devon Energy in the 3rd quarter valued at $35,000. Cromwell Holdings LLC boosted its holdings in Devon Energy by 98.0% in the fourth quarter. Cromwell Holdings LLC now owns 1,208 shares of the energy company’s stock valued at $40,000 after acquiring an additional 598 shares during the last quarter. Sierra Ocean LLC acquired a new stake in Devon Energy in the fourth quarter worth about $43,000. True Wealth Design LLC raised its holdings in Devon Energy by 3,889.3% during the 3rd quarter. True Wealth Design LLC now owns 1,117 shares of the energy company’s stock worth $44,000 after purchasing an additional 1,089 shares during the last quarter. Finally, Hazlett Burt & Watson Inc. boosted its stake in shares of Devon Energy by 29.8% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 1,263 shares of the energy company’s stock valued at $49,000 after purchasing an additional 290 shares during the last quarter. Institutional investors own 69.72% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Susquehanna boosted their price target on shares of Devon Energy from $50.00 to $52.00 and gave the stock a “positive” rating in a research note on Thursday, February 20th. Cowen downgraded Devon Energy to a “hold” rating and cut their price target for the company from $46.00 to $45.00 in a research note on Tuesday, February 18th. Wolfe Research raised Devon Energy from a “peer perform” rating to an “outperform” rating and set a $45.00 price objective for the company in a research note on Friday, January 3rd. Raymond James increased their target price on Devon Energy from $53.00 to $54.00 and gave the company an “outperform” rating in a research note on Thursday, January 23rd. Finally, Sanford C. Bernstein upgraded Devon Energy from a “market perform” rating to an “outperform” rating and set a $45.00 target price on the stock in a report on Wednesday, January 15th. Ten 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 a consensus rating of “Moderate Buy” and an average target price of $48.87.

Devon Energy Stock Up 1.0 %

NYSE:DVN opened at $36.24 on Monday. Devon Energy Co. has a 52-week low of $30.39 and a 52-week high of $55.09. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.01 and a current ratio of 1.04. The stock has a 50-day simple moving average of $34.94 and a 200 day simple moving average of $38.00. The company has a market cap of $23.52 billion, a PE ratio of 7.95, a PEG ratio of 1.20 and a beta of 1.98.

Devon Energy (NYSE:DVN) last issued its quarterly earnings results on Tuesday, February 18th. The energy company reported $1.16 EPS for the quarter, topping 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 net margin of 18.14% and a return on equity of 22.52%. On average, sell-side analysts expect that Devon Energy Co. will post 4.85 EPS for the current fiscal year.

Devon Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a dividend of $0.24 per share. The ex-dividend date is Friday, March 14th. This is a boost from Devon Energy’s previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a yield of 2.65%. Devon Energy’s dividend payout ratio is 21.05%.

Devon Energy 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.