Usca Ria LLC Makes New $29,000 Investment in Devon Energy Corp (NYSE:DVN)

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Usca Ria LLC acquired a new position in shares of Devon Energy Corp (NYSE:DVN) during the third quarter, HoldingsChannel reports. The fund acquired 1,214 shares of the energy company’s stock, valued at approximately $29,000.

A number of other large investors also recently modified their holdings of DVN. OLD Point Trust & Financial Services N A grew its holdings in Devon Energy by 3.0% during the 2nd quarter. OLD Point Trust & Financial Services N A now owns 34,100 shares of the energy company’s stock worth $972,000 after acquiring an additional 1,000 shares during the last quarter. DNB Asset Management AS boosted its stake in shares of Devon Energy by 67.3% in the 2nd quarter. DNB Asset Management AS now owns 102,059 shares of the energy company’s stock valued at $2,911,000 after purchasing an additional 41,043 shares during the last quarter. O Keefe Stevens Advisory Inc. boosted its stake in shares of Devon Energy by 4.3% in the 2nd quarter. O Keefe Stevens Advisory Inc. now owns 55,285 shares of the energy company’s stock valued at $1,577,000 after purchasing an additional 2,266 shares during the last quarter. Zions Bancorporation N.A. boosted its stake in shares of Devon Energy by 6.4% in the 2nd quarter. Zions Bancorporation N.A. now owns 7,342 shares of the energy company’s stock valued at $209,000 after purchasing an additional 440 shares during the last quarter. Finally, Foundation Resource Management Inc. boosted its stake in shares of Devon Energy by 2.5% in the 2nd quarter. Foundation Resource Management Inc. now owns 63,573 shares of the energy company’s stock valued at $1,813,000 after purchasing an additional 1,539 shares during the last quarter. 85.88% of the stock is currently owned by hedge funds and other institutional investors.

Several research analysts have recently issued reports on the stock. SunTrust Banks assumed coverage on shares of Devon Energy in a research note on Tuesday, July 30th. They issued a “buy” rating and a $33.00 target price on the stock. Guggenheim set a $35.00 target price on shares of Devon Energy and gave the company a “buy” rating in a research note on Wednesday, August 21st. Seaport Global Securities lowered shares of Devon Energy from a “buy” rating to a “neutral” rating in a research note on Thursday, October 10th. MKM Partners set a $32.00 target price on shares of Devon Energy and gave the company a “buy” rating in a research note on Monday, August 12th. Finally, ValuEngine raised shares of Devon Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have assigned a buy rating to the company’s stock. Devon Energy currently has an average rating of “Hold” and an average price target of $36.19.

Shares of NYSE:DVN opened at $22.91 on Friday. The company has a market capitalization of $9.29 billion, a price-to-earnings ratio of 17.76, a P/E/G ratio of 1.50 and a beta of 2.35. The firm’s 50 day simple moving average is $22.20 and its 200 day simple moving average is $25.68. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.49 and a quick ratio of 1.49. Devon Energy Corp has a fifty-two week low of $19.72 and a fifty-two week high of $35.39.

Devon Energy (NYSE:DVN) last announced its quarterly earnings results on Tuesday, November 5th. The energy company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.10. The business had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.57 billion. Devon Energy had a net margin of 16.00% and a return on equity of 6.08%. During the same period last year, the company posted $0.63 EPS. Equities research analysts expect that Devon Energy Corp will post 1.27 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be given a $0.09 dividend. The ex-dividend date of this dividend is Thursday, December 12th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.57%. Devon Energy’s dividend payout ratio is 27.91%.

In related news, CAO Jeremy D. Humphers sold 1,500 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $21.66, for a total value of $32,490.00. Following the sale, the chief accounting officer now directly owns 42,475 shares in the company, valued at approximately $920,008.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.63% of the company’s stock.

Devon Energy Company Profile

Devon Energy Corporation, an independent energy company, primarily engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States and Canada. It operates approximately 12,900 gross wells. The company was founded in 1971 and is headquartered in Oklahoma City, Oklahoma.

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Institutional Ownership by Quarter for Devon Energy (NYSE:DVN)

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