Stiles Financial Services Inc Has $2.22 Million Stock Holdings in Devon Energy Co. (NYSE:DVN)

Stiles Financial Services Inc raised its stake in Devon Energy Co. (NYSE:DVN) by 14.1% during the 2nd quarter, Holdings Channel.com reports. The firm owned 46,800 shares of the energy company’s stock after buying an additional 5,778 shares during the period. Stiles Financial Services Inc’s holdings in Devon Energy were worth $2,218,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of DVN. Triad Wealth Partners LLC acquired a new stake in Devon Energy during the 2nd quarter worth approximately $27,000. Manchester Capital Management LLC acquired a new stake in shares of Devon Energy during the fourth quarter worth $28,000. Tradewinds Capital Management LLC bought a new position in Devon Energy during the first quarter worth about $30,000. Jones Financial Companies Lllp raised its stake in Devon Energy by 104.8% in the 4th quarter. Jones Financial Companies Lllp now owns 731 shares of the energy company’s stock worth $33,000 after purchasing an additional 374 shares in the last quarter. Finally, 1620 Investment Advisors Inc. bought a new stake in Devon Energy in the 2nd quarter valued at about $34,000. 69.72% of the stock is owned by institutional investors.

Devon Energy Trading Down 0.5 %

Shares of DVN stock traded down $0.22 during trading hours on Monday, hitting $44.78. 5,832,400 shares of the company’s stock traded hands, compared to its average volume of 7,091,235. The stock has a market cap of $28.04 billion, a PE ratio of 8.55, a price-to-earnings-growth ratio of 1.26 and a beta of 2.07. The stock’s 50 day simple moving average is $45.85 and its 200 day simple moving average is $47.62. The company has a quick ratio of 1.03, a current ratio of 1.11 and a debt-to-equity ratio of 0.45. 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 earnings results on Tuesday, August 6th. The energy company reported $1.41 EPS for the quarter, topping the consensus estimate of $1.26 by $0.15. The firm had revenue of $3.92 billion for the quarter, compared to the consensus estimate of $3.90 billion. Devon Energy had a return on equity of 29.14% and a net margin of 22.60%. The business’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.18 EPS. On average, sell-side analysts anticipate that Devon Energy Co. will post 5.37 EPS for the current year.

Devon Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be given a $0.22 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.97%. Devon Energy’s dividend payout ratio (DPR) is currently 16.79%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. StockNews.com upgraded shares of Devon Energy from a “hold” rating to a “buy” rating in a research report on Thursday, August 8th. Scotiabank reduced their target price on Devon Energy from $67.00 to $60.00 and set a “sector outperform” rating on the stock in a report on Friday, July 12th. Sanford C. Bernstein decreased their price target on Devon Energy from $48.00 to $43.00 and set a “market perform” rating on the stock in a research report on Wednesday, July 17th. Morgan Stanley upped their price objective on shares of Devon Energy from $52.00 to $54.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 9th. Finally, Mizuho raised their target price on shares of Devon Energy from $57.00 to $61.00 and gave the company a “buy” rating in a report on Monday, May 13th. Five equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong 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 $58.75.

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.