Wetzel Investment Advisors Inc. Acquires New Position in Devon Energy Co. (NYSE:DVN)

Wetzel Investment Advisors Inc. acquired a new stake in Devon Energy Co. (NYSE:DVN) in the fourth quarter, Holdings Channel reports. The firm acquired 4,340 shares of the energy company’s stock, valued at approximately $197,000.

A number of other institutional investors have also recently made changes to their positions in the business. Coppell Advisory Solutions LLC acquired a new position in Devon Energy during the 2nd quarter worth approximately $25,000. Canada Pension Plan Investment Board acquired a new position in Devon Energy during the 1st quarter worth approximately $26,000. KB Financial Partners LLC acquired a new position in Devon Energy during the 1st quarter worth approximately $26,000. Annis Gardner Whiting Capital Advisors LLC acquired a new position in Devon Energy during the 3rd quarter worth approximately $27,000. Finally, Sound Income Strategies LLC grew its holdings in Devon Energy by 60.7% during the 4th quarter. Sound Income Strategies LLC now owns 675 shares of the energy company’s stock worth $31,000 after acquiring an additional 255 shares in the last quarter. Institutional investors and hedge funds own 69.72% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the stock. Stifel Nicolaus lowered their price target on shares of Devon Energy from $75.00 to $65.00 and set a “buy” rating for the company in a report on Friday, March 22nd. Wells Fargo & Company upgraded shares of Devon Energy from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $46.00 to $59.00 in a report on Monday, April 1st. Mizuho reduced their price objective on shares of Devon Energy from $54.00 to $53.00 and set a “buy” rating for the company in a research report on Thursday, January 11th. Raymond James reduced their price objective on shares of Devon Energy from $53.00 to $52.00 and set an “outperform” rating for the company in a research report on Wednesday, January 24th. Finally, Barclays started coverage on shares of Devon Energy in a research report on Wednesday, April 10th. They set an “equal weight” rating and a $59.00 price objective for the company. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $57.94.

Devon Energy Stock Performance

Devon Energy stock traded up $0.40 during trading hours on Friday, reaching $51.83. 5,075,407 shares of the stock were exchanged, compared to its average volume of 6,873,394. The stock has a market cap of $32.91 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 quick ratio of 0.99 and a current ratio of 1.07. Devon Energy Co. has a 52-week low of $40.47 and a 52-week high of $55.09. The firm’s 50 day moving average is $47.89 and its 200 day moving average is $45.90.

Devon Energy (NYSE:DVN) last announced its quarterly earnings data on Tuesday, February 27th. The energy company reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.02. The company had revenue of $4.15 billion during the quarter, compared to the consensus estimate of $3.88 billion. Devon Energy had a net margin of 24.56% and a return on equity of 31.72%. Devon Energy’s quarterly revenue was down 3.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.66 EPS. Analysts predict that Devon Energy Co. will post 5.14 EPS for the current fiscal year.

Devon Energy Cuts Dividend

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

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.