True Wealth Design LLC Increases Stake in Devon Energy Co. (NYSE:DVN)

True Wealth Design LLC boosted its stake in Devon Energy Co. (NYSE:DVN) by 3,889.3% in the third quarter, Holdings Channel.com reports. The firm owned 1,117 shares of the energy company’s stock after acquiring an additional 1,089 shares during the quarter. True Wealth Design LLC’s holdings in Devon Energy were worth $44,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Triad Wealth Partners LLC acquired a new position in shares of Devon Energy in the 2nd quarter valued at $27,000. 1620 Investment Advisors Inc. purchased a new position in shares of Devon Energy in the 2nd quarter worth $34,000. PSI Advisors LLC boosted its holdings in Devon Energy by 66.7% in the second quarter. PSI Advisors LLC now owns 750 shares of the energy company’s stock valued at $36,000 after acquiring an additional 300 shares during the last quarter. Capital Performance Advisors LLP purchased a new stake in Devon Energy during the third quarter valued at about $35,000. Finally, Versant Capital Management Inc increased its stake in Devon Energy by 30.4% during the second quarter. Versant Capital Management Inc now owns 970 shares of the energy company’s stock worth $46,000 after acquiring an additional 226 shares during the last quarter. 69.72% of the stock is currently owned by hedge funds and other institutional investors.

Devon Energy Stock Up 0.3 %

DVN stock opened at $37.95 on Monday. The company has a current ratio of 1.11, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. The firm has a 50 day simple moving average of $39.68 and a 200-day simple moving average of $43.52. The company has a market capitalization of $24.93 billion, a P/E ratio of 7.04, a PEG ratio of 1.20 and a beta of 2.03. Devon Energy Co. has a twelve month low of $37.28 and a twelve month high of $55.09.

Devon Energy (NYSE:DVN) last announced its quarterly earnings data on Tuesday, November 5th. The energy company reported $1.10 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.01. The company had revenue of $4.02 billion during the quarter, compared to analyst estimates of $3.72 billion. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period last year, the business earned $1.65 EPS. On average, equities research analysts predict that Devon Energy Co. will post 4.79 earnings per share for the current fiscal year.

Devon Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 2.32%. The ex-dividend date is Friday, December 13th. Devon Energy’s dividend payout ratio is currently 16.33%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Scotiabank reduced their price objective on Devon Energy from $60.00 to $48.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. StockNews.com downgraded shares of Devon Energy from a “hold” rating to a “sell” rating in a research note on Thursday, November 7th. Benchmark reissued a “hold” rating on shares of Devon Energy in a research note on Tuesday, October 15th. BMO Capital Markets decreased their price target on shares of Devon Energy from $52.00 to $48.00 and set an “outperform” rating for the company in a research report on Friday, October 4th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $57.00 price target on shares of Devon Energy in a report on Tuesday, September 3rd. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $51.15.

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.