Devon Energy Co. (NYSE:DVN) Shares Acquired by Arkfeld Wealth Strategies L.L.C.

Arkfeld Wealth Strategies L.L.C. boosted its position in shares of Devon Energy Co. (NYSE:DVN) by 17.0% in the third quarter, Holdings Channel.com reports. The firm owned 41,966 shares of the energy company’s stock after acquiring an additional 6,099 shares during the period. Devon Energy comprises approximately 0.9% of Arkfeld Wealth Strategies L.L.C.’s investment portfolio, making the stock its 24th largest position. Arkfeld Wealth Strategies L.L.C.’s holdings in Devon Energy were worth $1,780,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in DVN. Triad Wealth Partners LLC purchased a new position in Devon Energy in the 2nd quarter valued at about $27,000. Tradewinds Capital Management LLC acquired a new position in shares of Devon Energy in the first quarter worth about $30,000. 1620 Investment Advisors Inc. purchased a new position in Devon Energy in the second quarter valued at about $34,000. PSI Advisors LLC grew its stake in 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 purchasing an additional 300 shares in the last quarter. Finally, LRI Investments LLC purchased a new stake in Devon Energy during the 1st quarter worth approximately $39,000. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on DVN shares. StockNews.com downgraded shares of Devon Energy from a “buy” rating to a “hold” rating in a research report on Monday, September 2nd. Benchmark reissued a “hold” rating on shares of Devon Energy in a report on Tuesday. BMO Capital Markets cut their price objective on shares of Devon Energy from $52.00 to $48.00 and set an “outperform” rating on the stock in a research report on Friday, October 4th. Jefferies Financial Group assumed coverage on shares of Devon Energy in a research note on Thursday, October 3rd. They issued a “hold” rating and a $45.00 price target on the stock. Finally, JPMorgan Chase & Co. decreased their price objective on Devon Energy from $64.00 to $51.00 and set an “overweight” rating for the company in a report on Thursday, September 12th. Nine research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $52.58.

Devon Energy Trading Down 3.1 %

Shares of DVN stock traded down $1.33 during trading hours on Tuesday, reaching $41.54. 3,041,502 shares of the stock traded hands, compared to its average volume of 7,257,900. The business has a fifty day moving average price of $42.40 and a 200 day moving average price of $46.53. Devon Energy Co. has a 1-year low of $37.76 and a 1-year high of $55.09. The company has a quick ratio of 1.03, a current ratio of 1.11 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $26.25 billion, a PE ratio of 7.87, a PEG ratio of 1.27 and a beta of 2.02.

Devon Energy (NYSE:DVN) last released its quarterly earnings data on Tuesday, August 6th. The energy company reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.15. The firm had revenue of $3.92 billion for the quarter, compared to analyst estimates of $3.90 billion. Devon Energy had a net margin of 22.60% and a return on equity of 29.14%. The company’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.18 EPS. On average, equities research analysts forecast that Devon Energy Co. will post 5.01 EPS for the current year.

Devon Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were paid a $0.22 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.88 dividend on an annualized basis and a yield of 2.12%. Devon Energy’s dividend payout ratio (DPR) is currently 16.79%.

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.