Park Avenue Securities LLC boosted its stake in Devon Energy Co. (NYSE:DVN – Free Report) by 3.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,351 shares of the energy company’s stock after purchasing an additional 467 shares during the period. Park Avenue Securities LLC’s holdings in Devon Energy were worth $585,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. Manchester Capital Management LLC purchased a new position in Devon Energy in the 4th quarter worth approximately $28,000. Tradewinds Capital Management LLC purchased a new position in shares of Devon Energy during the first quarter valued at approximately $30,000. Jones Financial Companies Lllp increased its stake in shares of Devon Energy by 104.8% during the fourth quarter. Jones Financial Companies Lllp now owns 731 shares of the energy company’s stock valued at $33,000 after buying an additional 374 shares during the period. LRI Investments LLC purchased a new position in shares of Devon Energy during the first quarter valued at approximately $39,000. Finally, Naples Money Management LLC purchased a new position in shares of Devon Energy during the fourth quarter valued at approximately $40,000. 69.72% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several equities analysts have recently issued reports on the company. BMO Capital Markets raised Devon Energy to a “strong-buy” rating in a research note on Wednesday, July 3rd. Wolfe Research started coverage on Devon Energy in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. JPMorgan Chase & Co. lifted their price target on Devon Energy from $62.00 to $64.00 and gave the company an “overweight” rating in a research report on Monday, July 8th. StockNews.com upgraded Devon Energy from a “hold” rating to a “buy” rating in a research report on Thursday. Finally, Sanford C. Bernstein dropped their price target on Devon Energy from $48.00 to $43.00 and set a “market perform” rating on the stock in a research report on Wednesday, July 17th. Five analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $59.13.
View Our Latest Stock Analysis on Devon Energy
Devon Energy Trading Down 0.4 %
Devon Energy stock opened at $44.92 on Friday. The company has a current ratio of 1.04, a quick ratio of 0.97 and a debt-to-equity ratio of 0.46. The business’s fifty day simple moving average is $46.34 and its two-hundred day simple moving average is $47.29. Devon Energy Co. has a 12 month low of $40.47 and a 12 month high of $55.09. The company has a market capitalization of $28.39 billion, a price-to-earnings ratio of 8.57, a price-to-earnings-growth ratio of 0.75 and a beta of 2.07.
Devon Energy (NYSE:DVN – Get Free Report) last released its earnings results on Tuesday, August 6th. The energy company reported $1.41 EPS for the quarter, topping the consensus estimate of $1.26 by $0.15. The business had revenue of $3.92 billion for the quarter, compared to the consensus estimate of $3.90 billion. Devon Energy had a return on equity of 29.02% and a net margin of 22.27%. The company’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.18 earnings per share. As a group, equities analysts predict that Devon Energy Co. will post 5.4 earnings per share for the current fiscal year.
Devon Energy Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date of this dividend is Friday, September 13th. Devon Energy’s payout ratio is currently 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.
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