Catalyst Financial Partners LLC Buys 903 Shares of Devon Energy Co. (NYSE:DVN)

Catalyst Financial Partners LLC grew its position in Devon Energy Co. (NYSE:DVN) by 15.2% during the third quarter, HoldingsChannel reports. The firm owned 6,861 shares of the energy company’s stock after buying an additional 903 shares during the quarter. Catalyst Financial Partners LLC’s holdings in Devon Energy were worth $268,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Devon Energy by 3.5% in the first quarter. Vanguard Group Inc. now owns 76,457,056 shares of the energy company’s stock valued at $3,836,615,000 after purchasing an additional 2,559,039 shares during the last quarter. Pacer Advisors Inc. increased its position in Devon Energy by 16.8% in the 2nd quarter. Pacer Advisors Inc. now owns 9,913,516 shares of the energy company’s stock worth $469,901,000 after buying an additional 1,428,776 shares during the period. Raymond James & Associates lifted its holdings in shares of Devon Energy by 1.5% during the second quarter. Raymond James & Associates now owns 9,183,778 shares of the energy company’s stock worth $435,311,000 after buying an additional 138,919 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Devon Energy by 16.7% in the second quarter. Dimensional Fund Advisors LP now owns 8,793,217 shares of the energy company’s stock valued at $416,779,000 after acquiring an additional 1,255,543 shares during the period. Finally, Thrivent Financial for Lutherans grew its stake in shares of Devon Energy by 15.9% in the second quarter. Thrivent Financial for Lutherans now owns 5,094,017 shares of the energy company’s stock worth $241,456,000 after acquiring an additional 699,743 shares during the last quarter. 69.72% of the stock is owned by institutional investors.

Devon Energy Stock Up 0.9 %

Shares of DVN opened at $38.69 on Friday. The company has a market capitalization of $24.23 billion, a P/E ratio of 7.02, a PEG ratio of 1.22 and a beta of 2.02. Devon Energy Co. has a one year low of $37.76 and a one year high of $55.09. The business’s 50 day simple moving average is $41.26 and its 200-day simple moving average is $45.48. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.11 and a quick ratio of 1.03.

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. Devon Energy had a return on equity of 29.14% and a net margin of 22.60%. 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 earned $1.18 earnings per share. The business’s revenue for the quarter was up 13.4% on a year-over-year basis. As a group, sell-side analysts predict that Devon Energy Co. will post 4.98 EPS for the current fiscal year.

Devon Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date of this dividend was Friday, September 13th. Devon Energy’s dividend payout ratio is presently 15.97%.

Wall Street Analyst Weigh In

DVN has been the topic of several research analyst reports. JPMorgan Chase & Co. decreased their price target on shares of Devon Energy from $64.00 to $51.00 and set an “overweight” rating on the stock in a research report on Thursday, September 12th. Royal Bank of Canada reissued a “sector perform” rating and set a $57.00 target price on shares of Devon Energy in a research report on Tuesday, September 3rd. BMO Capital Markets cut their price target on Devon Energy from $52.00 to $48.00 and set an “outperform” rating for the company in a report on Friday, October 4th. Sanford C. Bernstein decreased their price objective on Devon Energy from $48.00 to $43.00 and set a “market perform” rating on the stock in a report on Wednesday, July 17th. Finally, UBS Group cut their target price on Devon Energy from $53.00 to $47.00 and set a “neutral” rating for the company in a research note on Wednesday, September 18th. Nine analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $52.53.

About Devon Energy

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.