Devon Energy Co. (NYSE:DVN) Holdings Lifted by San Luis Wealth Advisors LLC

San Luis Wealth Advisors LLC increased its holdings in Devon Energy Co. (NYSE:DVN) by 39.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,756 shares of the energy company’s stock after buying an additional 5,561 shares during the quarter. San Luis Wealth Advisors LLC’s holdings in Devon Energy were worth $647,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. SkyOak Wealth LLC grew its stake in shares of Devon Energy by 4.1% in the second quarter. SkyOak Wealth LLC now owns 6,297 shares of the energy company’s stock worth $298,000 after purchasing an additional 250 shares in the last quarter. Riversedge Advisors LLC grew its position in Devon Energy by 3.6% in the 3rd quarter. Riversedge Advisors LLC now owns 7,336 shares of the energy company’s stock valued at $287,000 after buying an additional 253 shares in the last quarter. Modus Advisors LLC increased its stake in Devon Energy by 2.4% during the 3rd quarter. Modus Advisors LLC now owns 11,439 shares of the energy company’s stock valued at $447,000 after buying an additional 272 shares during the period. Lummis Asset Management LP raised its position in shares of Devon Energy by 1.0% during the 2nd quarter. Lummis Asset Management LP now owns 30,055 shares of the energy company’s stock worth $1,425,000 after buying an additional 290 shares in the last quarter. Finally, Hazlett Burt & Watson Inc. lifted its stake in shares of Devon Energy by 29.8% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 1,263 shares of the energy company’s stock worth $49,000 after acquiring an additional 290 shares during the period. Institutional investors own 69.72% of the company’s stock.

Devon Energy Stock Up 1.2 %

DVN opened at $37.22 on Wednesday. The company has a market capitalization of $24.45 billion, a PE ratio of 6.91, a price-to-earnings-growth ratio of 1.07 and a beta of 2.00. The business has a 50-day moving average of $35.58 and a 200-day moving average of $40.49. Devon Energy Co. has a fifty-two week low of $30.39 and a fifty-two week high of $55.09. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.11 and a quick ratio of 1.01.

Devon Energy (NYSE:DVN) last posted its earnings results on Tuesday, November 5th. The energy company reported $1.10 EPS for the quarter, topping the consensus estimate of $1.09 by $0.01. The firm had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $3.72 billion. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%. The business’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.65 earnings per share. Equities research analysts forecast that Devon Energy Co. will post 4.79 EPS for the current fiscal year.

Devon Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Friday, December 13th were given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.36%. The ex-dividend date was Friday, December 13th. Devon Energy’s dividend payout ratio is 16.33%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on DVN shares. Jefferies Financial Group initiated coverage on shares of Devon Energy in a research note on Thursday, October 3rd. They set a “hold” rating and a $45.00 price objective on the stock. StockNews.com raised Devon Energy from a “sell” rating to a “hold” rating in a research note on Friday, January 3rd. Benchmark upgraded Devon Energy from a “hold” rating to a “buy” rating and set a $44.00 price objective for the company in a report on Tuesday. UBS Group lowered their target price on Devon Energy from $53.00 to $47.00 and set a “neutral” rating on the stock in a report on Wednesday, September 18th. Finally, Mizuho cut their price target on shares of Devon Energy from $51.00 to $47.00 and set an “outperform” rating for the company in a report on Monday, December 16th. Ten research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $49.18.

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.