Texas Yale Capital Corp. Makes New $216,000 Investment in Devon Energy Co. (NYSE:DVN)

Texas Yale Capital Corp. purchased a new stake in shares of Devon Energy Co. (NYSE:DVN) during the first quarter, Holdings Channel reports. The fund purchased 4,297 shares of the energy company’s stock, valued at approximately $216,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Raymond James & Associates raised its holdings in shares of Devon Energy by 8.9% during the 1st quarter. Raymond James & Associates now owns 9,044,859 shares of the energy company’s stock valued at $453,871,000 after purchasing an additional 736,449 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of Devon Energy by 0.8% during the 4th quarter. Victory Capital Management Inc. now owns 8,539,335 shares of the energy company’s stock valued at $386,832,000 after purchasing an additional 68,339 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Devon Energy by 26.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 7,077,042 shares of the energy company’s stock valued at $320,609,000 after purchasing an additional 1,488,374 shares in the last quarter. Pacer Advisors Inc. raised its holdings in shares of Devon Energy by 1,279.7% during the 4th quarter. Pacer Advisors Inc. now owns 6,145,605 shares of the energy company’s stock valued at $278,396,000 after purchasing an additional 5,700,167 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. raised its holdings in shares of Devon Energy by 3.6% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 4,529,487 shares of the energy company’s stock valued at $227,290,000 after purchasing an additional 156,230 shares in the last quarter. Institutional investors own 69.72% of the company’s stock.

Devon Energy Stock Performance

NYSE DVN traded down $0.21 during midday trading on Thursday, hitting $48.44. The company had a trading volume of 3,287,731 shares, compared to its average volume of 7,255,246. The company has a quick ratio of 0.97, a current ratio of 1.04 and a debt-to-equity ratio of 0.46. The stock has a market cap of $30.61 billion, a price-to-earnings ratio of 9.28, a P/E/G ratio of 1.25 and a beta of 2.07. The firm has a fifty day simple moving average of $47.63 and a two-hundred day simple moving average of $47.07. Devon Energy Co. has a fifty-two week low of $40.47 and a fifty-two week high of $55.09.

Devon Energy (NYSE:DVN) last posted its quarterly earnings results on Wednesday, May 1st. The energy company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.06. Devon Energy had a net margin of 22.27% and a return on equity of 29.02%. The company had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.64 billion. During the same period last year, the business posted $1.46 EPS. The business’s quarterly revenue was down 5.9% on a year-over-year basis. Equities analysts forecast that Devon Energy Co. will post 5.36 earnings per share for the current fiscal year.

Devon Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were given a dividend of $0.22 per share. The ex-dividend date was Friday, June 14th. This represents a $0.88 annualized dividend and a dividend yield of 1.82%. Devon Energy’s dividend payout ratio (DPR) is currently 16.79%.

Insider Activity

In other news, EVP Tana K. Cashion sold 20,000 shares of Devon Energy stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $51.04, for a total transaction of $1,020,800.00. Following the sale, the executive vice president now directly owns 104,182 shares in the company, valued at approximately $5,317,449.28. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.73% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. Morgan Stanley raised their price target on shares of Devon Energy from $52.00 to $54.00 and gave the company an “overweight” rating in a report on Tuesday, July 9th. Susquehanna reiterated a “positive” rating and issued a $65.00 target price on shares of Devon Energy in a research note on Tuesday, July 9th. Sanford C. Bernstein lowered their target price on shares of Devon Energy from $48.00 to $43.00 and set a “market perform” rating on the stock in a research note on Wednesday. BMO Capital Markets upgraded shares of Devon Energy to a “strong-buy” rating in a research note on Wednesday, July 3rd. Finally, Barclays started coverage on shares of Devon Energy in a research note on Wednesday, April 10th. They issued an “equal weight” rating and a $59.00 target price on the stock. Five research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $59.25.

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.