Transce3nd LLC Takes $93,000 Position in Devon Energy Co. (NYSE:DVN)

Transce3nd LLC bought a new position in shares of Devon Energy Co. (NYSE:DVN) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 2,833 shares of the energy company’s stock, valued at approximately $93,000.

Several other institutional investors have also bought and sold shares of the stock. Hurley Capital LLC bought a new position in shares of Devon Energy during the fourth quarter valued at $26,000. Cromwell Holdings LLC increased its position in shares of Devon Energy by 98.0% during the 4th quarter. Cromwell Holdings LLC now owns 1,208 shares of the energy company’s stock worth $40,000 after purchasing an additional 598 shares in the last quarter. Sierra Ocean LLC bought a new position in Devon Energy during the 4th quarter valued at about $43,000. Endeavor Private Wealth Inc. acquired a new position in Devon Energy in the fourth quarter valued at about $52,000. Finally, Thompson Investment Management Inc. grew its stake in Devon Energy by 60.0% during the fourth quarter. Thompson Investment Management Inc. now owns 1,600 shares of the energy company’s stock worth $52,000 after buying an additional 600 shares during the last quarter. Institutional investors and hedge funds own 69.72% of the company’s stock.

Devon Energy Stock Down 2.7 %

Devon Energy stock opened at $29.50 on Tuesday. Devon Energy Co. has a fifty-two week low of $25.89 and a fifty-two week high of $53.20. 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 firm has a market capitalization of $19.15 billion, a price-to-earnings ratio of 6.47, a PEG ratio of 1.20 and a beta of 1.50. The company’s 50 day simple moving average is $33.83 and its 200 day simple moving average is $35.67.

Devon Energy (NYSE:DVN) last announced its quarterly earnings results 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 company had revenue of $4.40 billion during the quarter, compared to analyst estimates 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 anticipate that Devon Energy Co. will post 4.85 EPS for the current year.

Devon Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were issued a $0.24 dividend. This is an increase from Devon Energy’s previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a dividend yield of 3.25%. The ex-dividend date of this dividend was Friday, March 14th. Devon Energy’s dividend payout ratio is 21.05%.

Wall Street Analysts Forecast Growth

DVN has been the topic of several recent analyst reports. Mizuho reduced their target price on Devon Energy from $49.00 to $46.00 and set an “outperform” rating on the stock in a report on Wednesday, April 9th. StockNews.com raised Devon Energy from a “sell” rating to a “hold” rating in a research note on Friday, January 3rd. Sanford C. Bernstein upgraded Devon Energy from a “market perform” rating to an “outperform” rating and set a $45.00 target price for the company in a research note on Wednesday, January 15th. Williams Trading set a $50.00 price target on shares of Devon Energy in a research report on Wednesday, March 5th. Finally, Morgan Stanley set a $47.00 target price on shares of Devon Energy and gave the stock an “overweight” rating in a research note on Wednesday, March 26th. Ten analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $46.71.

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.