King Luther Capital Management Corp Decreases Stock Holdings in Devon Energy Co. (NYSE:DVN)

King Luther Capital Management Corp lowered its stake in Devon Energy Co. (NYSE:DVN) by 12.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,055,868 shares of the energy company’s stock after selling 151,675 shares during the quarter. King Luther Capital Management Corp owned 0.17% of Devon Energy worth $41,306,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in DVN. International Assets Investment Management LLC increased its position in shares of Devon Energy by 4,125.7% during the 3rd quarter. International Assets Investment Management LLC now owns 2,280,961 shares of the energy company’s stock valued at $89,231,000 after purchasing an additional 2,226,983 shares during the last quarter. Pacer Advisors Inc. grew its position in Devon Energy by 16.8% during the second quarter. Pacer Advisors Inc. now owns 9,913,516 shares of the energy company’s stock valued at $469,901,000 after buying an additional 1,428,776 shares during the period. Los Angeles Capital Management LLC increased its holdings in Devon Energy by 7,165.6% during the second quarter. Los Angeles Capital Management LLC now owns 1,376,253 shares of the energy company’s stock valued at $65,234,000 after buying an additional 1,357,311 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Devon Energy by 16.7% in the second quarter. Dimensional Fund Advisors LP now owns 8,793,217 shares of the energy company’s stock worth $416,779,000 after acquiring an additional 1,255,543 shares during the period. Finally, National Bank of Canada FI boosted its stake in shares of Devon Energy by 447.6% during the 2nd quarter. National Bank of Canada FI now owns 1,179,538 shares of the energy company’s stock worth $56,299,000 after acquiring an additional 964,147 shares during the last quarter. Institutional investors own 69.72% of the company’s stock.

Analyst Upgrades and Downgrades

DVN has been the topic of several analyst reports. Scotiabank lowered their target price on Devon Energy from $60.00 to $48.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Susquehanna cut their price objective on Devon Energy from $63.00 to $62.00 and set a “positive” rating for the company in a research note on Friday, October 18th. Evercore ISI decreased their target price on shares of Devon Energy from $55.00 to $50.00 and set an “in-line” rating on the stock in a research note on Monday, September 30th. Raymond James reduced their price objective on shares of Devon Energy from $58.00 to $51.00 in a research note on Tuesday, November 5th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Devon Energy from $64.00 to $51.00 and set an “overweight” rating on the stock in a research note on Thursday, September 12th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $51.85.

Devon Energy Stock Up 1.0 %

Shares of DVN opened at $38.30 on Thursday. The stock has a 50 day moving average price of $39.96 and a 200 day moving average price of $44.11. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.11. The stock has a market capitalization of $25.16 billion, a price-to-earnings ratio of 7.11, a PEG ratio of 1.20 and a beta of 2.03. Devon Energy Co. has a one year low of $37.76 and a one year high of $55.09.

Devon Energy (NYSE:DVN) last released 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. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%. The company had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $3.72 billion. During the same quarter in the prior year, the firm earned $1.65 EPS. Devon Energy’s quarterly revenue was up 4.9% on a year-over-year basis. Equities research analysts forecast that Devon Energy Co. will post 4.81 earnings per share for the current fiscal year.

Devon Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date of this dividend is Friday, December 13th. Devon Energy’s dividend payout ratio (DPR) is presently 16.33%.

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.