UniSuper Management Pty Ltd Has $1.41 Million Position in Devon Energy Co. (NYSE:DVN)

UniSuper Management Pty Ltd boosted its holdings in shares of Devon Energy Co. (NYSE:DVN) by 345.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 28,102 shares of the energy company’s stock after buying an additional 21,795 shares during the period. UniSuper Management Pty Ltd’s holdings in Devon Energy were worth $1,410,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. O Shaughnessy Asset Management LLC lifted its position in shares of Devon Energy by 6.0% during the first quarter. O Shaughnessy Asset Management LLC now owns 65,799 shares of the energy company’s stock valued at $3,302,000 after purchasing an additional 3,743 shares in the last quarter. Bahl & Gaynor Inc. purchased a new position in shares of Devon Energy in the 1st quarter worth approximately $204,000. MAS Advisors LLC grew its holdings in shares of Devon Energy by 21.1% in the first quarter. MAS Advisors LLC now owns 11,694 shares of the energy company’s stock valued at $587,000 after acquiring an additional 2,037 shares in the last quarter. Resurgent Financial Advisors LLC increased its position in shares of Devon Energy by 72.5% during the first quarter. Resurgent Financial Advisors LLC now owns 6,361 shares of the energy company’s stock valued at $319,000 after acquiring an additional 2,673 shares during the last quarter. Finally, Jacobi Capital Management LLC bought a new stake in Devon Energy during the first quarter worth $247,000. 69.72% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

DVN has been the topic of a number of recent analyst reports. UBS Group lifted their target price on Devon Energy from $48.00 to $57.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 10th. Stifel Nicolaus boosted their target price on shares of Devon Energy from $65.00 to $66.00 and gave the company a “buy” rating in a research note on Tuesday, April 23rd. Sanford C. Bernstein decreased their price target on shares of Devon Energy from $48.00 to $43.00 and set a “market perform” rating for the company in a research note on Wednesday, July 17th. Bank of America reaffirmed a “buy” rating and issued a $64.00 price target on shares of Devon Energy in a report on Friday, June 14th. Finally, StockNews.com lowered Devon Energy from a “buy” rating to a “hold” rating in a report on Thursday, July 18th. Six research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $59.13.

Insiders Place Their Bets

In other Devon Energy news, EVP Tana K. Cashion sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $51.04, for a total value of $1,020,800.00. Following the completion of the sale, the executive vice president now owns 104,182 shares of the company’s stock, valued at $5,317,449.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.73% of the company’s stock.

Devon Energy Price Performance

Shares of NYSE DVN traded down $0.84 during midday trading on Tuesday, hitting $45.96. 6,675,236 shares of the company’s stock were exchanged, compared to its average volume of 7,234,077. The business’s fifty day moving average price is $47.40 and its two-hundred day moving average price is $47.12. The company has a market cap of $29.05 billion, a price-to-earnings ratio of 8.77, a PEG ratio of 1.23 and a beta of 2.07. The company has a current ratio of 1.04, a quick ratio of 0.97 and a debt-to-equity ratio of 0.46. Devon Energy Co. has a 12-month low of $40.47 and a 12-month high of $55.09.

Devon Energy (NYSE:DVN) last released its quarterly earnings results 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 during the quarter, compared to analysts’ expectations of $3.64 billion. Devon Energy had a net margin of 22.27% and a return on equity of 29.02%. The business’s quarterly revenue was down 5.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.46 EPS. As a group, research analysts forecast that Devon Energy Co. will post 5.4 EPS for the current fiscal year.

Devon Energy Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $0.88 dividend on an annualized basis and a yield of 1.91%. Devon Energy’s payout ratio is 16.79%.

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.