U.S. Capital Wealth Advisors LLC Purchases 12,203 Shares of Devon Energy Co. (NYSE:DVN)

U.S. Capital Wealth Advisors LLC grew its position in shares of Devon Energy Co. (NYSE:DVN) by 8.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 156,424 shares of the energy company’s stock after buying an additional 12,203 shares during the period. U.S. Capital Wealth Advisors LLC’s holdings in Devon Energy were worth $7,086,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. SVB Wealth LLC grew its position in shares of Devon Energy by 5.6% during the 3rd quarter. SVB Wealth LLC now owns 8,105 shares of the energy company’s stock worth $387,000 after purchasing an additional 430 shares in the last quarter. Stratos Wealth Partners LTD. increased its stake in Devon Energy by 2.2% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 27,834 shares of the energy company’s stock worth $1,328,000 after acquiring an additional 594 shares during the period. Stratos Wealth Advisors LLC acquired a new position in Devon Energy in the 3rd quarter valued at $477,000. Independent Advisor Alliance grew its holdings in shares of Devon Energy by 51.9% during the 3rd quarter. Independent Advisor Alliance now owns 29,766 shares of the energy company’s stock worth $1,420,000 after purchasing an additional 10,171 shares in the last quarter. Finally, Brown Advisory Inc. increased its position in shares of Devon Energy by 77.2% in the third quarter. Brown Advisory Inc. now owns 8,316 shares of the energy company’s stock worth $397,000 after purchasing an additional 3,622 shares during the period. Institutional investors own 69.72% of the company’s stock.

Devon Energy Trading Up 0.4 %

NYSE DVN traded up $0.20 on Friday, reaching $50.54. The company had a trading volume of 8,953,763 shares, compared to its average volume of 7,073,719. The firm has a market cap of $32.09 billion, a price-to-earnings ratio of 9.65 and a beta of 2.16. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.04 and a quick ratio of 0.99. Devon Energy Co. has a fifty-two week low of $40.47 and a fifty-two week high of $55.09. The business has a 50 day moving average of $49.62 and a two-hundred day moving average of $46.28.

Devon Energy (NYSE:DVN) last issued its quarterly earnings results on Wednesday, May 1st. The energy company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.06. The company had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.64 billion. Devon Energy had a return on equity of 29.02% and a net margin of 22.27%. The business’s quarterly revenue was down 5.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.46 earnings per share. Analysts forecast that Devon Energy Co. will post 5.24 EPS for the current year.

Devon Energy Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.88 annualized dividend and a yield of 1.74%. Devon Energy’s payout ratio is 16.79%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on DVN shares. Barclays assumed coverage on shares of Devon Energy in a research note on Wednesday, April 10th. They set an “equal weight” rating and a $59.00 price objective on the stock. Wells Fargo & Company raised Devon Energy from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $46.00 to $59.00 in a report on Monday, April 1st. Mizuho boosted their price target on Devon Energy from $53.00 to $57.00 and gave the stock a “buy” rating in a report on Thursday. StockNews.com upgraded Devon Energy from a “hold” rating to a “buy” rating in a research report on Friday. Finally, UBS Group raised their price target on shares of Devon Energy from $48.00 to $57.00 and gave the company a “neutral” rating in a research note on Wednesday, April 10th. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $58.44.

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.