Devon Energy Co. (NYSE:DVN) Position Boosted by Aster Capital Management DIFC Ltd

Aster Capital Management DIFC Ltd boosted its position in Devon Energy Co. (NYSE:DVN) by 214.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 40,161 shares of the energy company’s stock after buying an additional 27,375 shares during the quarter. Aster Capital Management DIFC Ltd’s holdings in Devon Energy were worth $1,314,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of DVN. Vanguard Group Inc. increased its holdings in shares of Devon Energy by 7.3% in the 4th quarter. Vanguard Group Inc. now owns 80,682,170 shares of the energy company’s stock valued at $2,640,727,000 after acquiring an additional 5,465,692 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Devon Energy in the fourth quarter worth $154,170,000. Wealth Enhancement Advisory Services LLC boosted its holdings in Devon Energy by 90.8% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 2,724,407 shares of the energy company’s stock worth $89,170,000 after purchasing an additional 1,296,590 shares during the period. Geode Capital Management LLC increased its stake in Devon Energy by 6.5% during the fourth quarter. Geode Capital Management LLC now owns 16,931,275 shares of the energy company’s stock valued at $552,830,000 after purchasing an additional 1,038,305 shares during the last quarter. Finally, KBC Group NV raised its holdings in shares of Devon Energy by 1,015.7% during the fourth quarter. KBC Group NV now owns 812,027 shares of the energy company’s stock worth $26,577,000 after purchasing an additional 739,247 shares during the period. Institutional investors and hedge funds own 69.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Susquehanna lifted their price target on shares of Devon Energy from $50.00 to $52.00 and gave the company a “positive” rating in a report on Thursday, February 20th. Royal Bank of Canada restated a “sector perform” rating and issued a $50.00 target price on shares of Devon Energy in a research note on Friday, January 10th. JPMorgan Chase & Co. lowered their target price on Devon Energy from $48.00 to $42.00 and set a “neutral” rating for the company in a report on Thursday, March 13th. Williams Trading set a $50.00 price target on Devon Energy in a report on Wednesday, March 5th. Finally, Wolfe Research upgraded 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. Ten investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $48.17.

Devon Energy Trading Down 11.7 %

Shares of NYSE:DVN opened at $29.30 on Friday. The company has a 50 day moving average of $35.22 and a 200-day moving average of $36.70. 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 firm has a market cap of $19.01 billion, a P/E ratio of 6.42, a P/E/G ratio of 1.20 and a beta of 1.50. Devon Energy Co. has a twelve month low of $29.06 and a twelve month high of $55.09.

Devon Energy (NYSE:DVN) last announced its 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 return on equity of 22.52% and a net margin of 18.14%. As a group, analysts anticipate that Devon Energy Co. will post 4.85 earnings per share for the current fiscal year.

Devon Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were issued a $0.24 dividend. This is a positive change from Devon Energy’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.96 annualized dividend and a dividend yield of 3.28%. 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.