Sapient Capital LLC Purchases Shares of 19,200 Devon Energy Co. (NYSE:DVN)

Sapient Capital LLC bought a new position in shares of Devon Energy Co. (NYSE:DVN) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 19,200 shares of the energy company’s stock, valued at approximately $870,000.

Other large investors also recently made changes to their positions in the company. Lord Abbett & CO. LLC grew its holdings in shares of Devon Energy by 15.5% during the third quarter. Lord Abbett & CO. LLC now owns 549,710 shares of the energy company’s stock worth $26,221,000 after purchasing an additional 73,570 shares during the last quarter. Nordea Investment Management AB grew its holdings in shares of Devon Energy by 2.7% during the third quarter. Nordea Investment Management AB now owns 373,757 shares of the energy company’s stock worth $17,974,000 after purchasing an additional 9,823 shares during the last quarter. Atria Investments Inc grew its holdings in shares of Devon Energy by 64.4% during the third quarter. Atria Investments Inc now owns 54,639 shares of the energy company’s stock worth $2,606,000 after purchasing an additional 21,400 shares during the last quarter. Pearl River Capital LLC grew its holdings in shares of Devon Energy by 367.7% during the third quarter. Pearl River Capital LLC now owns 75,042 shares of the energy company’s stock worth $3,580,000 after purchasing an additional 58,997 shares during the last quarter. Finally, Argent Trust Co grew its holdings in shares of Devon Energy by 22.1% during the third quarter. Argent Trust Co now owns 86,795 shares of the energy company’s stock worth $4,140,000 after purchasing an additional 15,715 shares during the last quarter. Institutional investors own 69.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Scotiabank increased their target price on Devon Energy from $53.00 to $67.00 and gave the stock a “sector outperform” rating in a report on Thursday, April 11th. Morgan Stanley raised their price target on Devon Energy from $49.00 to $50.00 and gave the company an “overweight” rating in a report on Monday, April 15th. Mizuho raised their price target on Devon Energy from $53.00 to $57.00 and gave the company a “buy” rating in a report on Thursday. JPMorgan Chase & Co. raised their price target on Devon Energy from $57.00 to $62.00 and gave the company an “overweight” rating in a report on Monday, April 8th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $55.00 price target on shares of Devon Energy in a report on Thursday, March 7th. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, Devon Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $58.44.

Devon Energy Stock Up 0.4 %

Shares of NYSE DVN traded up $0.20 during mid-day trading on Friday, reaching $50.54. 8,953,763 shares of the company’s stock were exchanged, compared to its average volume of 7,073,719. The firm has a market capitalization of $32.09 billion, a price-to-earnings ratio of 9.65 and a beta of 2.16. The company has a current ratio of 1.04, a quick ratio of 0.99 and a debt-to-equity ratio of 0.46. The business has a fifty day simple moving average of $49.62 and a 200 day simple moving average of $46.28. Devon Energy Co. has a twelve month low of $40.47 and a twelve month high of $55.09.

Devon Energy (NYSE:DVN) last issued its quarterly earnings data on Wednesday, May 1st. The energy company reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.06. The business had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.64 billion. Devon Energy had a net margin of 22.27% and a return on equity of 29.02%. The firm’s quarterly revenue was down 5.9% on a year-over-year basis. During the same period last year, the business posted $1.46 earnings per share. As a group, equities analysts expect that Devon Energy Co. will post 5.24 EPS for the current fiscal year.

Devon Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.88 annualized dividend and a dividend yield of 1.74%. Devon Energy’s dividend payout ratio is currently 16.79%.

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.