Stolper Co Increases Stake in Devon Energy Co. (NYSE:DVN)

Stolper Co grew its position in Devon Energy Co. (NYSE:DVN) by 2.3% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 134,255 shares of the energy company’s stock after buying an additional 3,029 shares during the period. Devon Energy makes up about 1.5% of Stolper Co’s investment portfolio, making the stock its 28th largest holding. Stolper Co’s holdings in Devon Energy were worth $4,394,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in DVN. Geode Capital Management LLC raised its holdings in Devon Energy by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 15,892,970 shares of the energy company’s stock worth $619,747,000 after acquiring an additional 206,884 shares during the last quarter. EnCap Energy Capital Fund XI L.P. purchased a new position in shares of Devon Energy in the third quarter worth $461,857,000. Pacer Advisors Inc. lifted its holdings in shares of Devon Energy by 16.9% during the third quarter. Pacer Advisors Inc. now owns 11,591,168 shares of the energy company’s stock valued at $453,446,000 after purchasing an additional 1,677,652 shares in the last quarter. EnCap Partners GP LLC purchased a new stake in shares of Devon Energy during the third quarter valued at $408,653,000. Finally, Victory Capital Management Inc. increased its holdings in Devon Energy by 3.8% in the 3rd quarter. Victory Capital Management Inc. now owns 9,971,343 shares of the energy company’s stock worth $390,079,000 after buying an additional 361,968 shares in the last quarter. Institutional investors own 69.72% of the company’s stock.

Devon Energy Stock Performance

Shares of Devon Energy stock opened at $38.45 on Thursday. Devon Energy Co. has a 12 month low of $30.39 and a 12 month high of $55.09. The stock’s fifty day moving average price is $35.54 and its 200-day moving average price is $40.42. The firm has a market cap of $25.26 billion, a P/E ratio of 7.13, a P/E/G ratio of 1.07 and a beta of 2.00. The company has a current ratio of 1.11, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61.

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

Devon Energy Announces Dividend

The business 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 annualized dividend and a dividend yield of 2.29%. The ex-dividend date of this dividend was Friday, December 13th. Devon Energy’s payout ratio is 16.33%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on DVN shares. Raymond James dropped their price target on Devon Energy from $58.00 to $51.00 in a research note on Tuesday, November 5th. Barclays lowered their price target on Devon Energy from $55.00 to $46.00 and set an “equal weight” rating on the stock in a report on Thursday, October 3rd. Benchmark upgraded shares of Devon Energy from a “hold” rating to a “buy” rating and set a $44.00 target price for the company in a research report on Tuesday. Wells Fargo & Company reduced their price target on shares of Devon Energy from $49.00 to $43.00 and set an “overweight” rating on the stock in a report on Tuesday, December 17th. Finally, Wolfe Research upgraded Devon Energy from a “peer perform” rating to an “outperform” rating and set a $45.00 price objective for the company in a research report on Friday, January 3rd. Nine equities 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.com, Devon Energy presently has a consensus rating of “Moderate Buy” and an average price target of $49.27.

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.