Devon Energy Co. (NYSE:DVN) Shares Purchased by New World Advisors LLC

New World Advisors LLC raised its position in Devon Energy Co. (NYSE:DVN) by 19.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,460 shares of the energy company’s stock after acquiring an additional 900 shares during the quarter. New World Advisors LLC’s holdings in Devon Energy were worth $214,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Retirement Group LLC grew its holdings 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 valued at $56,000 after purchasing an additional 199 shares in the last quarter. Whittier Trust Co. of Nevada Inc. increased its position in shares of Devon Energy by 7.4% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 3,046 shares of the energy company’s stock worth $153,000 after acquiring an additional 209 shares during the period. Annex Advisory Services LLC boosted its holdings in Devon Energy by 0.8% in the second quarter. Annex Advisory Services LLC now owns 27,651 shares of the energy company’s stock valued at $1,311,000 after purchasing an additional 223 shares during the period. Versant Capital Management Inc grew its stake in Devon Energy by 30.4% during the 2nd quarter. Versant Capital Management Inc now owns 970 shares of the energy company’s stock worth $46,000 after purchasing an additional 226 shares in the last quarter. Finally, Magnolia Capital Advisors LLC grew its stake in Devon Energy by 1.0% during the 1st quarter. Magnolia Capital Advisors LLC now owns 23,316 shares of the energy company’s stock worth $1,208,000 after purchasing an additional 230 shares in the last quarter. 69.72% of the stock is currently owned by hedge funds and other institutional investors.

Devon Energy Price Performance

DVN stock traded down $0.32 during midday trading on Friday, hitting $39.19. 9,322,139 shares of the stock were exchanged, compared to its average volume of 9,281,782. The stock’s 50-day moving average price is $41.62 and its 200-day moving average price is $45.80. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.03 and a current ratio of 1.11. The stock has a market cap of $24.54 billion, a price-to-earnings ratio of 7.11, a PEG ratio of 1.22 and a beta of 2.02. Devon Energy Co. has a fifty-two week low of $37.76 and a fifty-two week high of $55.09.

Devon Energy (NYSE:DVN) last released its quarterly earnings results on Tuesday, August 6th. The energy company reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.15. The business had revenue of $3.92 billion during the quarter, compared to the consensus estimate of $3.90 billion. Devon Energy had a return on equity of 29.14% and a net margin of 22.60%. The business’s revenue was up 13.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.18 EPS. Research analysts predict that Devon Energy Co. will post 4.98 earnings per share for the current year.

Devon Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 2.25%. The ex-dividend date was Friday, September 13th. Devon Energy’s dividend payout ratio (DPR) is 15.97%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on DVN shares. Susquehanna lowered their price objective on Devon Energy from $63.00 to $62.00 and set a “positive” rating for the company in a research report on Friday, October 18th. UBS Group dropped their price objective on Devon Energy from $53.00 to $47.00 and set a “neutral” rating on the stock in a report on Wednesday, September 18th. JPMorgan Chase & Co. dropped their price target on shares of Devon Energy from $64.00 to $51.00 and set an “overweight” rating on the stock in a research note on Thursday, September 12th. Benchmark restated a “hold” rating on shares of Devon Energy in a report on Tuesday, October 15th. Finally, StockNews.com cut shares of Devon Energy from a “buy” rating to a “hold” rating in a research report on Monday, September 2nd. Nine investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Devon Energy has an average rating of “Moderate Buy” and a consensus price target of $52.53.

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.