Tocqueville Asset Management L.P. Buys 359 Shares of Devon Energy Co. (NYSE:DVN)

Tocqueville Asset Management L.P. boosted its holdings in shares of Devon Energy Co. (NYSE:DVN) by 3.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 12,242 shares of the energy company’s stock after buying an additional 359 shares during the period. Tocqueville Asset Management L.P.’s holdings in Devon Energy were worth $401,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in DVN. Pathstone Holdings LLC boosted its stake in Devon Energy by 20.6% during the third quarter. Pathstone Holdings LLC now owns 199,218 shares of the energy company’s stock valued at $7,797,000 after buying an additional 34,056 shares during the period. Caprock Group LLC boosted its stake in Devon Energy by 114.6% during the third quarter. Caprock Group LLC now owns 50,585 shares of the energy company’s stock valued at $1,979,000 after buying an additional 27,012 shares during the period. Prospera Financial Services Inc boosted its stake in Devon Energy by 20.4% during the third quarter. Prospera Financial Services Inc now owns 22,813 shares of the energy company’s stock valued at $893,000 after buying an additional 3,867 shares during the period. Fifth Third Wealth Advisors LLC boosted its stake in Devon Energy by 45.1% during the third quarter. Fifth Third Wealth Advisors LLC now owns 11,259 shares of the energy company’s stock valued at $440,000 after buying an additional 3,499 shares during the period. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Devon Energy during the third quarter valued at $806,000. Institutional investors own 69.72% of the company’s stock.

Devon Energy Stock Up 2.0 %

NYSE DVN opened at $36.08 on Thursday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 1.01. The stock has a market capitalization of $23.41 billion, a PE ratio of 7.91, a PEG 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 posted its earnings results on Tuesday, February 18th. The energy company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.16. The company 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%. Sell-side analysts forecast that Devon Energy Co. will post 4.85 earnings per share for the current year.

Devon Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.66%. This is a boost from Devon Energy’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Friday, March 14th. Devon Energy’s payout ratio is presently 21.05%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on DVN shares. Wells Fargo & Company lowered their price target on Devon Energy from $49.00 to $43.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 17th. Wolfe Research upgraded Devon Energy from a “peer perform” rating to an “outperform” rating and set a $45.00 price target on the stock in a research report on Friday, January 3rd. Mizuho lowered their price target on Devon Energy from $51.00 to $47.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. Sanford C. Bernstein upgraded 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. Finally, StockNews.com upgraded Devon Energy from a “sell” rating to a “hold” rating in a research report on Friday, January 3rd. Ten equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $48.46.

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.