Generali Investments Management Co LLC Acquires New Shares in Devon Energy Co. (NYSE:DVN)

Generali Investments Management Co LLC acquired a new position in Devon Energy Co. (NYSE:DVN) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 3,005 shares of the energy company’s stock, valued at approximately $98,000.

Several other hedge funds have also recently bought and sold shares of DVN. Koss Olinger Consulting LLC acquired a new stake in shares of Devon Energy in the fourth quarter worth about $663,000. OVERSEA CHINESE BANKING Corp Ltd lifted its holdings in Devon Energy by 217.8% in the 4th quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 27,931 shares of the energy company’s stock worth $871,000 after purchasing an additional 19,142 shares during the last quarter. Intech Investment Management LLC lifted its holdings in Devon Energy by 6.0% in the 4th quarter. Intech Investment Management LLC now owns 16,213 shares of the energy company’s stock worth $531,000 after purchasing an additional 915 shares during the last quarter. Horizon Investments LLC boosted its position in Devon Energy by 4.1% during the fourth quarter. Horizon Investments LLC now owns 8,843 shares of the energy company’s stock worth $289,000 after purchasing an additional 347 shares during the period. Finally, Advisors Asset Management Inc. grew its holdings in Devon Energy by 7.3% during the fourth quarter. Advisors Asset Management Inc. now owns 139,708 shares of the energy company’s stock valued at $4,573,000 after purchasing an additional 9,510 shares during the last quarter. 69.72% of the stock is owned by institutional investors and hedge funds.

Devon Energy Trading Up 2.0 %

DVN stock opened at $36.08 on Thursday. 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 $23.41 billion, a P/E ratio of 7.91, a P/E/G ratio of 1.20 and a beta of 1.91. Devon Energy Co. has a 1-year low of $30.39 and a 1-year high of $55.09. The business’s 50 day moving average is $35.44 and its 200-day moving average is $37.13.

Devon Energy (NYSE:DVN) last announced its quarterly earnings results on Tuesday, February 18th. The energy company reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates 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%. Equities 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 announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a dividend of $0.24 per share. The ex-dividend date is Friday, March 14th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.66%. This is a boost from Devon Energy’s previous quarterly dividend of $0.22. Devon Energy’s dividend payout ratio (DPR) is 21.05%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on DVN shares. Barclays upped their price objective on shares of Devon Energy from $43.00 to $44.00 and gave the stock an “equal weight” rating in a report on Thursday, February 20th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $50.00 price target on shares of Devon Energy in a research report on Friday, January 10th. Wells Fargo & Company dropped their price objective on Devon Energy from $49.00 to $43.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 17th. Benchmark restated a “buy” rating and set a $44.00 target price on shares of Devon Energy in a research note on Thursday, February 20th. Finally, Sanford C. Bernstein raised Devon Energy from a “market perform” rating to an “outperform” rating and set a $45.00 price target on the stock in a research report on Wednesday, January 15th. Ten research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $48.46.

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.