Devon Energy Corporation $DVN Stock Holdings Increased by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC lifted its stake in Devon Energy Corporation (NYSE:DVN) by 0.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,044,081 shares of the energy company’s stock after acquiring an additional 14,712 shares during the period. Wealth Enhancement Advisory Services LLC owned 0.32% of Devon Energy worth $71,522,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of DVN. Opal Wealth Advisors LLC bought a new position in Devon Energy during the second quarter valued at about $25,000. Caldwell Trust Co acquired a new stake in shares of Devon Energy in the second quarter worth $25,000. PFS Partners LLC acquired a new position in Devon Energy during the third quarter valued at $25,000. First Horizon Corp acquired a new stake in Devon Energy during the 3rd quarter worth about $26,000. Finally, Trust Co. of Vermont increased its holdings in shares of Devon Energy by 241.3% in the 2nd quarter. Trust Co. of Vermont now owns 942 shares of the energy company’s stock valued at $30,000 after purchasing an additional 666 shares during the period. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Royal Bank Of Canada set a $42.00 price objective on shares of Devon Energy and gave the stock a “sector perform” rating in a report on Friday, October 10th. Argus raised Devon Energy to a “strong-buy” rating in a research report on Wednesday, November 26th. Wolfe Research dropped their price objective on Devon Energy from $53.00 to $48.00 and set an “outperform” rating on the stock in a research note on Monday, January 5th. JPMorgan Chase & Co. decreased their target price on Devon Energy from $44.00 to $41.00 and set an “overweight” rating for the company in a research note on Thursday, January 15th. Finally, Morgan Stanley lifted their price target on Devon Energy from $47.00 to $48.00 and gave the stock an “overweight” rating in a research report on Thursday, December 11th. Two analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $44.21.

Devon Energy Trading Up 0.8%

Devon Energy stock traded up $0.29 during mid-day trading on Tuesday, hitting $36.49. The stock had a trading volume of 715,863 shares, compared to its average volume of 10,247,834. The company has a current ratio of 0.96, a quick ratio of 0.87 and a debt-to-equity ratio of 0.48. Devon Energy Corporation has a 12 month low of $25.89 and a 12 month high of $38.88. The stock has a 50-day simple moving average of $36.38 and a two-hundred day simple moving average of $34.70. The stock has a market capitalization of $22.89 billion, a PE ratio of 8.62, a P/E/G ratio of 3.08 and a beta of 0.60.

Devon Energy (NYSE:DVN) last posted its quarterly earnings data on Wednesday, November 5th. The energy company reported $1.04 EPS for the quarter, beating the consensus estimate of $0.93 by $0.11. The business had revenue of $0.00 million for the quarter, compared to analysts’ expectations of $4.10 billion. Devon Energy had a net margin of 15.56% and a return on equity of 18.14%. During the same period in the previous year, the firm posted $1.10 EPS. As a group, sell-side analysts forecast that Devon Energy Corporation will post 4.85 EPS for the current year.

Devon Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 30th. Stockholders of record on Monday, December 15th were given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend was Monday, December 15th. Devon Energy’s dividend payout ratio (DPR) is 22.59%.

Devon Energy Company Profile

Devon Energy Corporation (NYSE: DVN) is an independent oil and gas exploration and production company headquartered in Oklahoma City, Oklahoma. The company focuses on the exploration, development, production and marketing of hydrocarbons, including crude oil, natural gas liquids (NGLs) and natural gas. Devon operates as an upstream energy company that acquires, evaluates and develops onshore resource plays using a combination of drilling, completion and production optimization techniques.

Core business activities include identifying and developing energy reserves, operating well programs and managing reservoir performance to generate production and cash flow.