Saxon Interests Inc. Has $977,000 Stock Position in Devon Energy Co. (NYSE:DVN)

Saxon Interests Inc. increased its position in Devon Energy Co. (NYSE:DVN) by 4.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,610 shares of the energy company’s stock after purchasing an additional 792 shares during the quarter. Saxon Interests Inc.’s holdings in Devon Energy were worth $977,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in DVN. NewEdge Wealth LLC acquired a new stake in Devon Energy in the fourth quarter worth about $331,000. Louisiana State Employees Retirement System acquired a new position in shares of Devon Energy during the 4th quarter worth about $1,753,000. Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of Devon Energy by 6.9% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,825,364 shares of the energy company’s stock worth $82,689,000 after buying an additional 118,346 shares during the period. Waldron Private Wealth LLC acquired a new position in shares of Devon Energy during the 4th quarter worth about $207,000. Finally, Avior Wealth Management LLC grew its position in shares of Devon Energy by 50.5% during the 4th quarter. Avior Wealth Management LLC now owns 6,629 shares of the energy company’s stock worth $300,000 after buying an additional 2,223 shares during the period. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Devon Energy Stock Down 0.8 %

NYSE DVN traded down $0.35 during trading on Friday, hitting $45.09. The stock had a trading volume of 4,917,934 shares, compared to its average volume of 7,234,730. The company has a market capitalization of $28.50 billion, a PE ratio of 8.60, a P/E/G ratio of 0.75 and a beta of 2.07. The company’s 50-day moving average price is $46.16 and its two-hundred day moving average price is $47.37. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.97 and a current ratio of 1.04. Devon Energy Co. has a 12 month low of $40.47 and a 12 month high of $55.09.

Devon Energy (NYSE:DVN) last announced its quarterly earnings data on Tuesday, August 6th. The energy company reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.15. Devon Energy had a return on equity of 29.02% and a net margin of 22.27%. The company had revenue of $3.92 billion for the quarter, compared to analysts’ expectations of $3.90 billion. During the same quarter in the prior year, the business posted $1.18 EPS. The business’s revenue was up 13.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Devon Energy Co. will post 5.4 EPS for the current year.

Devon Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date is Friday, September 13th. Devon Energy’s dividend payout ratio (DPR) is presently 16.79%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on DVN shares. Morgan Stanley boosted their target price on Devon Energy from $52.00 to $54.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 9th. Wolfe Research started coverage on Devon Energy in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. Scotiabank decreased their target price on Devon Energy from $67.00 to $60.00 and set a “sector outperform” rating for the company in a research report on Friday, July 12th. BMO Capital Markets upgraded Devon Energy to a “strong-buy” rating in a research report on Wednesday, July 3rd. Finally, Susquehanna reiterated a “positive” rating and issued a $65.00 price objective on shares of Devon Energy in a research report on Tuesday, July 9th. Five 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $58.75.

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.