Devon Energy Co. (NYSE:DVN) Shares Acquired by Peterson Wealth Services

Peterson Wealth Services increased its holdings in Devon Energy Co. (NYSE:DVN) by 29.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 27,870 shares of the energy company’s stock after buying an additional 6,301 shares during the period. Peterson Wealth Services’ holdings in Devon Energy were worth $1,262,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Lord Abbett & CO. LLC boosted its stake in Devon Energy by 15.5% during the 3rd quarter. Lord Abbett & CO. LLC now owns 549,710 shares of the energy company’s stock valued at $26,221,000 after purchasing an additional 73,570 shares during the period. Nordea Investment Management AB boosted its stake in Devon Energy by 2.7% during the 3rd quarter. Nordea Investment Management AB now owns 373,757 shares of the energy company’s stock valued at $17,974,000 after purchasing an additional 9,823 shares during the period. Atria Investments Inc boosted its stake in Devon Energy by 64.4% during the 3rd quarter. Atria Investments Inc now owns 54,639 shares of the energy company’s stock valued at $2,606,000 after purchasing an additional 21,400 shares during the period. Pearl River Capital LLC lifted its stake in shares of Devon Energy by 367.7% in the 3rd quarter. Pearl River Capital LLC now owns 75,042 shares of the energy company’s stock worth $3,580,000 after acquiring an additional 58,997 shares during the period. Finally, SG Americas Securities LLC lifted its stake in shares of Devon Energy by 224.8% in the 3rd quarter. SG Americas Securities LLC now owns 151,305 shares of the energy company’s stock worth $7,217,000 after acquiring an additional 104,716 shares during the period. 69.72% of the stock is owned by institutional investors and hedge funds.

Devon Energy Stock Up 0.1 %

Devon Energy stock traded up $0.06 during trading hours on Thursday, hitting $51.73. The company had a trading volume of 1,086,420 shares, compared to its average volume of 7,987,243. The firm has a market capitalization of $32.85 billion, a P/E ratio of 8.89 and a beta of 2.19. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.07 and a quick ratio of 0.99. The firm’s fifty day moving average is $47.51 and its 200-day moving average is $45.82. Devon Energy Co. has a fifty-two week low of $40.47 and a fifty-two week high of $55.09.

Devon Energy (NYSE:DVN) last released its quarterly earnings data on Tuesday, February 27th. The energy company reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.02. The firm had revenue of $4.15 billion for the quarter, compared to analyst estimates of $3.88 billion. Devon Energy had a net margin of 24.56% and a return on equity of 31.72%. The company’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.66 EPS. On average, research analysts forecast that Devon Energy Co. will post 5.14 earnings per share for the current year.

Devon Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were given a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 3.40%. The ex-dividend date of this dividend was Thursday, March 14th. Devon Energy’s dividend payout ratio is 15.09%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Stifel Nicolaus reduced their price target on shares of Devon Energy from $75.00 to $65.00 and set a “buy” rating for the company in a research note on Friday, March 22nd. Scotiabank boosted their target price on shares of Devon Energy from $53.00 to $67.00 and gave the stock a “sector outperform” rating in a report on Thursday, April 11th. Mizuho dropped their target price on shares of Devon Energy from $54.00 to $53.00 and set a “buy” rating on the stock in a report on Thursday, January 11th. Citigroup boosted their target price on shares of Devon Energy from $55.00 to $62.00 and gave the stock a “buy” rating in a report on Thursday, April 11th. Finally, Barclays assumed coverage on shares of Devon Energy in a report on Wednesday, April 10th. They issued an “equal weight” rating and a $59.00 target price on the stock. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, Devon Energy has a consensus rating of “Moderate Buy” and an average target price of $57.89.

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.