Marathon Trading Investment Management LLC Makes New Investment in Devon Energy Co. (NYSE:DVN)

Marathon Trading Investment Management LLC purchased a new stake in Devon Energy Co. (NYSE:DVN) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 12,041 shares of the energy company’s stock, valued at approximately $394,000.

A number of other institutional investors and hedge funds have also made changes to their positions in DVN. Sfmg LLC grew its stake in Devon Energy by 0.5% in the third quarter. Sfmg LLC now owns 64,871 shares of the energy company’s stock valued at $2,538,000 after purchasing an additional 294 shares during the last quarter. Redwood Wealth Management Group LLC grew its position in shares of Devon Energy by 3.9% in the 4th quarter. Redwood Wealth Management Group LLC now owns 8,141 shares of the energy company’s stock worth $266,000 after buying an additional 309 shares during the last quarter. Cornerstone Wealth Management LLC grew its position in shares of Devon Energy by 1.6% in the 4th quarter. Cornerstone Wealth Management LLC now owns 21,242 shares of the energy company’s stock worth $695,000 after buying an additional 326 shares during the last quarter. Annex Advisory Services LLC raised its stake in shares of Devon Energy by 1.2% during the 4th quarter. Annex Advisory Services LLC now owns 27,021 shares of the energy company’s stock worth $884,000 after acquiring an additional 327 shares in the last quarter. Finally, Fiduciary Trust Co lifted its position in Devon Energy by 3.1% during the third quarter. Fiduciary Trust Co now owns 11,074 shares of the energy company’s stock valued at $433,000 after acquiring an additional 329 shares during the last quarter. 69.72% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on DVN. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $50.00 price target on shares of Devon Energy in a report on Friday, January 10th. Sanford C. Bernstein upgraded Devon Energy from a “market perform” rating to an “outperform” rating and set a $45.00 target price on the stock in a research note on Wednesday, January 15th. JPMorgan Chase & Co. cut Devon Energy from an “overweight” rating to a “neutral” rating and set a $43.00 price target for the company. in a research note on Thursday, December 5th. Wolfe Research raised Devon Energy from a “peer perform” rating to an “outperform” rating and set a $45.00 price target for the company in a report on Friday, January 3rd. Finally, Williams Trading set a $50.00 price objective on shares of Devon Energy in a report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $48.58.

Devon Energy Trading Down 1.5 %

Shares of NYSE:DVN opened at $34.18 on Tuesday. The company has a current ratio of 1.04, a quick ratio of 1.01 and a debt-to-equity ratio of 0.57. Devon Energy Co. has a 12-month low of $30.39 and a 12-month high of $55.09. The business has a 50 day moving average of $35.29 and a two-hundred day moving average of $37.57. The company has a market capitalization of $22.18 billion, a PE ratio of 7.49, a PEG ratio of 1.20 and a beta of 1.91.

Devon Energy (NYSE:DVN) last posted its earnings results on Tuesday, February 18th. The energy company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.16. The firm had revenue of $4.40 billion during the quarter, compared to analysts’ expectations of $4.25 billion. Devon Energy had a net margin of 18.14% and a return on equity of 22.52%. As a group, analysts forecast that Devon Energy Co. will post 4.85 EPS for the current year.

Devon Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a dividend of $0.24 per share. This is a positive change from Devon Energy’s previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a dividend yield of 2.81%. The ex-dividend date of this dividend is Friday, March 14th. Devon Energy’s dividend payout ratio is presently 21.05%.

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.