Uniplan Investment Counsel Inc. Acquires 520 Shares of Devon Energy Co. (NYSE:DVN)

Uniplan Investment Counsel Inc. boosted its holdings in Devon Energy Co. (NYSE:DVN) by 1.2% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 44,784 shares of the energy company’s stock after acquiring an additional 520 shares during the quarter. Uniplan Investment Counsel Inc.’s holdings in Devon Energy were worth $1,466,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of DVN. Hurley Capital LLC purchased a new stake in Devon Energy during the 4th quarter valued at $26,000. Cromwell Holdings LLC boosted its holdings in shares of Devon Energy by 98.0% during the fourth quarter. Cromwell Holdings LLC now owns 1,208 shares of the energy company’s stock worth $40,000 after purchasing an additional 598 shares during the period. Sierra Ocean LLC bought a new stake in shares of Devon Energy in the fourth quarter worth about $43,000. Endeavor Private Wealth Inc. purchased a new position in Devon Energy during the 4th quarter valued at about $52,000. Finally, Thompson Investment Management Inc. raised its position in Devon Energy by 60.0% during the 4th 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. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Royal Bank of Canada cut their price target on shares of Devon Energy from $49.00 to $40.00 and set a “sector perform” rating on the stock in a report on Monday, April 14th. JPMorgan Chase & Co. reduced their price target on shares of Devon Energy from $48.00 to $42.00 and set a “neutral” rating on the stock in a research report on Thursday, March 13th. Williams Trading set a $50.00 price objective on shares of Devon Energy in a report on Wednesday, March 5th. StockNews.com upgraded Devon Energy from a “sell” rating to a “hold” rating in a report on Friday, January 3rd. Finally, Cowen cut Devon Energy to a “hold” rating and lowered their target price for the company from $46.00 to $45.00 in a research note on Tuesday, February 18th. Ten equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, Devon Energy currently has an average rating of “Moderate Buy” and an average price target of $45.96.

Devon Energy Stock Up 5.7 %

DVN stock opened at $31.17 on Wednesday. The company has a quick ratio of 1.01, a current ratio of 1.04 and a debt-to-equity ratio of 0.57. The firm’s 50-day simple moving average is $33.77 and its 200 day simple moving average is $35.63. The stock has a market cap of $20.23 billion, a PE ratio of 6.84, a price-to-earnings-growth ratio of 1.20 and a beta of 1.50. Devon Energy Co. has a fifty-two week low of $25.89 and a fifty-two week high of $53.20.

Devon Energy (NYSE:DVN) last posted its quarterly earnings data on Tuesday, February 18th. The energy company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.16. The business had revenue of $4.40 billion during 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%. As a group, sell-side analysts predict that Devon Energy Co. will post 4.85 EPS for the current year.

Devon Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were paid a dividend of $0.24 per share. 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 3.08%. The ex-dividend date of this dividend was Friday, March 14th. Devon Energy’s payout ratio is 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.