Devon Energy Co. (NYSE:DVN) Shares Acquired by Oak Harbor Wealth Partners LLC

Oak Harbor Wealth Partners LLC boosted its stake in Devon Energy Co. (NYSE:DVN) by 8.6% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 34,727 shares of the energy company’s stock after buying an additional 2,742 shares during the quarter. Oak Harbor Wealth Partners LLC’s holdings in Devon Energy were worth $1,359,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Triad Wealth Partners LLC purchased a new stake in shares of Devon Energy in the second quarter valued at $27,000. 1620 Investment Advisors Inc. acquired a new stake in Devon Energy during the 2nd quarter worth approximately $34,000. PSI Advisors LLC lifted its holdings in shares of Devon Energy by 66.7% during the 2nd quarter. PSI Advisors LLC now owns 750 shares of the energy company’s stock valued at $36,000 after acquiring an additional 300 shares in the last quarter. LRI Investments LLC acquired a new position in shares of Devon Energy during the first quarter worth about $39,000. Finally, Capital Performance Advisors LLP acquired a new position in Devon Energy during the 3rd quarter worth approximately $35,000. Institutional investors and hedge funds own 69.72% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on DVN. Raymond James decreased their price objective on shares of Devon Energy from $58.00 to $51.00 in a research report on Tuesday, November 5th. UBS Group lowered their target price on shares of Devon Energy from $53.00 to $47.00 and set a “neutral” rating for the company in a research note on Wednesday, September 18th. Benchmark reiterated a “hold” rating on shares of Devon Energy in a research report on Tuesday, October 15th. Mizuho reduced their target price on shares of Devon Energy from $53.00 to $51.00 and set an “outperform” rating for the company in a research note on Wednesday, October 9th. Finally, Morgan Stanley decreased their price objective on Devon Energy from $55.00 to $51.00 and set an “overweight” rating for the company in a report on Monday, September 16th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $51.80.

Devon Energy Stock Up 0.6 %

Shares of Devon Energy stock opened at $39.36 on Friday. The firm has a market cap of $25.86 billion, a price-to-earnings ratio of 7.30, a P/E/G ratio of 1.22 and a beta of 2.03. The stock has a 50-day simple moving average of $40.15 and a 200-day simple moving average of $44.52. Devon Energy Co. has a 52-week low of $37.76 and a 52-week high of $55.09. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.11 and a quick ratio of 1.01.

Devon Energy (NYSE:DVN) last released its quarterly earnings data on Tuesday, November 5th. The energy company reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.01. The business had revenue of $4.02 billion during the quarter, compared to analyst estimates of $3.72 billion. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%. Devon Energy’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.65 EPS. On average, equities research analysts expect that Devon Energy Co. will post 4.84 earnings per share for the current fiscal year.

Devon Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.24%. The ex-dividend date is Friday, December 13th. Devon Energy’s dividend payout ratio is currently 16.33%.

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.