Courier Capital LLC Increases Stock Holdings in Devon Energy Co. (NYSE:DVN)

Courier Capital LLC increased its stake in Devon Energy Co. (NYSE:DVN) by 6.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,305 shares of the energy company’s stock after purchasing an additional 1,079 shares during the period. Courier Capital LLC’s holdings in Devon Energy were worth $677,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Retirement Group LLC increased its position in shares of Devon Energy by 21.8% in the first quarter. Retirement Group LLC now owns 1,110 shares of the energy company’s stock worth $56,000 after purchasing an additional 199 shares during the last quarter. Whittier Trust Co. of Nevada Inc. increased its position in shares of Devon Energy by 7.4% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 3,046 shares of the energy company’s stock worth $153,000 after purchasing an additional 209 shares during the last quarter. MCF Advisors LLC increased its position in shares of Devon Energy by 5.6% in the first quarter. MCF Advisors LLC now owns 4,023 shares of the energy company’s stock worth $202,000 after purchasing an additional 215 shares during the last quarter. Annex Advisory Services LLC increased its position in shares of Devon Energy by 0.8% in the second quarter. Annex Advisory Services LLC now owns 27,651 shares of the energy company’s stock worth $1,311,000 after purchasing an additional 223 shares during the last quarter. Finally, Versant Capital Management Inc increased its position in shares of Devon Energy by 30.4% in the second quarter. Versant Capital Management Inc now owns 970 shares of the energy company’s stock worth $46,000 after purchasing an additional 226 shares during the last quarter. 69.72% of the stock is currently owned by institutional investors.

Devon Energy Stock Performance

Shares of DVN stock opened at $39.51 on Thursday. The stock has a fifty day moving average of $41.96 and a 200 day moving average of $46.05. Devon Energy Co. has a 52 week low of $37.76 and a 52 week high of $55.09. The firm has a market capitalization of $24.97 billion, a price-to-earnings ratio of 7.54, a PEG ratio of 1.27 and a beta of 2.02. The company has a quick ratio of 1.03, a current ratio of 1.11 and a debt-to-equity ratio of 0.45.

Devon Energy (NYSE:DVN) last announced its quarterly earnings results on Tuesday, August 6th. The energy company reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.15. Devon Energy had a return on equity of 29.14% and a net margin of 22.60%. The company had revenue of $3.92 billion during the quarter, compared to analyst estimates of $3.90 billion. During the same quarter last year, the firm posted $1.18 earnings per share. The firm’s revenue was up 13.4% on a year-over-year basis. As a group, research analysts expect that Devon Energy Co. will post 5.01 earnings per share for the current year.

Devon Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.23%. The ex-dividend date was Friday, September 13th. Devon Energy’s dividend payout ratio is currently 16.79%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Barclays decreased their price objective on shares of Devon Energy from $55.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 3rd. UBS Group reduced their price target on shares of Devon Energy from $53.00 to $47.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 18th. BMO Capital Markets reduced their price target 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. StockNews.com cut shares of Devon Energy from a “buy” rating to a “hold” rating in a research report on Monday, September 2nd. Finally, Morgan Stanley reduced their price target on shares of Devon Energy from $55.00 to $51.00 and set an “overweight” rating on the stock in a research report on Monday, September 16th. Nine analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $52.53.

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.