Devon Energy Co. (NYSE:DVN) Shares Acquired by Advisory Services Network LLC

Advisory Services Network LLC increased its position in shares of Devon Energy Co. (NYSE:DVN) by 74.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 74,500 shares of the energy company’s stock after purchasing an additional 31,791 shares during the quarter. Advisory Services Network LLC’s holdings in Devon Energy were worth $2,438,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Hurley Capital LLC bought a new stake in shares of Devon Energy during the 4th quarter valued at about $26,000. Cromwell Holdings LLC boosted its stake in 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 acquiring an additional 598 shares during the period. Sierra Ocean LLC bought a new position in shares of Devon Energy during the fourth quarter valued at approximately $43,000. Endeavor Private Wealth Inc. acquired a new stake in shares of Devon Energy during the 4th quarter worth approximately $52,000. Finally, Thompson Investment Management Inc. lifted its holdings in shares of Devon Energy by 60.0% in the 4th quarter. Thompson Investment Management Inc. now owns 1,600 shares of the energy company’s stock worth $52,000 after purchasing an additional 600 shares during the last quarter. Institutional investors and hedge funds own 69.72% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Wolfe Research raised Devon Energy from a “peer perform” rating to an “outperform” rating and set a $45.00 target price on the stock in a research report on Friday, January 3rd. Benchmark reaffirmed a “buy” rating and issued a $44.00 price objective on shares of Devon Energy in a report on Thursday, February 20th. Citigroup reduced their target price on shares of Devon Energy from $46.00 to $43.00 and set a “buy” rating for the company in a research note on Friday, April 4th. Cowen lowered shares of Devon Energy to a “hold” rating and dropped their price target for the company from $46.00 to $45.00 in a research note on Tuesday, February 18th. Finally, UBS Group reduced their price objective on Devon Energy from $41.00 to $35.00 and set a “neutral” rating for the company in a research report on Monday. Ten analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, Devon Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $47.63.

Devon Energy Price Performance

NYSE DVN opened at $27.74 on Friday. The company has a current ratio of 1.04, a quick ratio of 1.01 and a debt-to-equity ratio of 0.57. Devon Energy Co. has a 1 year low of $25.89 and a 1 year high of $55.09. The company has a market cap of $18.00 billion, a PE ratio of 6.08, a PEG ratio of 1.20 and a beta of 1.50. The stock’s 50-day moving average price is $34.50 and its two-hundred day moving average price is $36.22.

Devon Energy (NYSE:DVN) last released its quarterly earnings results on Tuesday, February 18th. The energy company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.16. Devon Energy had a net margin of 18.14% and a return on equity of 22.52%. The business had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.25 billion. On average, analysts predict that Devon Energy Co. will post 4.85 EPS for the current year.

Devon Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 3.46%. The ex-dividend date was Friday, March 14th. This is a boost from Devon Energy’s previous quarterly dividend of $0.22. Devon Energy’s dividend payout ratio (DPR) is 21.05%.

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.