14,293 Shares in Devon Energy Co. (NYSE:DVN) Acquired by Bryce Point Capital LLC

Bryce Point Capital LLC acquired a new stake in Devon Energy Co. (NYSE:DVN) during the 4th quarter, HoldingsChannel reports. The firm acquired 14,293 shares of the energy company’s stock, valued at approximately $468,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Cromwell Holdings LLC raised its stake in shares of 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 buying an additional 598 shares during the period. Sierra Ocean LLC bought a new stake in Devon Energy in the 4th quarter valued at about $43,000. Endeavor Private Wealth Inc. bought a new stake in Devon Energy in the 4th quarter valued at about $52,000. Thompson Investment Management Inc. lifted its holdings in Devon Energy by 60.0% during the fourth quarter. Thompson Investment Management Inc. now owns 1,600 shares of the energy company’s stock valued at $52,000 after purchasing an additional 600 shares during the last quarter. Finally, Asset Planning Inc bought a new position in Devon Energy during the fourth quarter worth about $54,000. 69.72% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

DVN has been the topic of a number of recent research reports. Williams Trading set a $50.00 price target on shares of Devon Energy in a research note on Wednesday, March 5th. Wells Fargo & Company cut their price target on Devon Energy from $49.00 to $43.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th. Citigroup reduced their price target on Devon Energy from $46.00 to $43.00 and set a “buy” rating for the company in a research report on Friday. Wolfe Research upgraded Devon Energy from a “peer perform” rating to an “outperform” rating and set a $45.00 target price for the company in a research note on Friday, January 3rd. Finally, Morgan Stanley set a $47.00 price target on Devon Energy and gave the company an “overweight” rating in a research report on Wednesday, March 26th. Ten equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $48.17.

Devon Energy Trading Down 11.7 %

NYSE DVN opened at $29.30 on Friday. The company has a market capitalization of $19.01 billion, a price-to-earnings ratio of 6.42, a PEG ratio of 1.20 and a beta of 1.50. The company has a quick ratio of 1.01, a current ratio of 1.04 and a debt-to-equity ratio of 0.57. Devon Energy Co. has a twelve month low of $29.06 and a twelve month high of $55.09. The stock’s 50-day simple moving average is $35.22 and its two-hundred day simple moving average is $36.72.

Devon Energy (NYSE:DVN) last issued its quarterly earnings results on Tuesday, February 18th. The energy company reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.16. The business 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%. Research analysts forecast that Devon Energy Co. will post 4.85 EPS for the current fiscal year.

Devon Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were paid a $0.24 dividend. The ex-dividend date was Friday, March 14th. This is an increase from Devon Energy’s previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a yield of 3.28%. Devon Energy’s payout ratio is currently 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.