Lmcg Investments LLC Purchases 896 Shares of Devon Energy Co. (NYSE:DVN)

Lmcg Investments LLC grew its position in Devon Energy Co. (NYSE:DVN) by 1.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 56,858 shares of the energy company’s stock after buying an additional 896 shares during the period. Lmcg Investments LLC’s holdings in Devon Energy were worth $1,861,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of DVN. EnCap Energy Capital Fund XI L.P. acquired a new stake in Devon Energy in the third quarter worth about $461,857,000. EnCap Partners GP LLC acquired a new stake in Devon Energy in the 3rd quarter worth approximately $408,653,000. EnCap Energy Capital Fund X L.P. purchased a new stake in Devon Energy during the 3rd quarter worth approximately $230,928,000. International Assets Investment Management LLC increased its stake in Devon Energy by 4,125.7% during the 3rd quarter. International Assets Investment Management LLC now owns 2,280,961 shares of the energy company’s stock valued at $89,231,000 after purchasing an additional 2,226,983 shares in the last quarter. Finally, Pacer Advisors Inc. raised its holdings in shares of Devon Energy by 16.9% in the third quarter. Pacer Advisors Inc. now owns 11,591,168 shares of the energy company’s stock worth $453,446,000 after buying an additional 1,677,652 shares during the last quarter. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Devon Energy Stock Down 3.2 %

Shares of DVN opened at $36.73 on Wednesday. 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 market cap of $24.13 billion, a P/E ratio of 6.81, a PEG ratio of 1.26 and a beta of 2.00. The stock’s 50 day moving average is $35.43 and its two-hundred day moving average is $40.07. Devon Energy Co. has a 12 month low of $30.39 and a 12 month high of $55.09.

Devon Energy (NYSE:DVN) last released its quarterly earnings results on Tuesday, November 5th. The energy company reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.09 by $0.01. The firm had revenue of $4.02 billion for the quarter, compared to analysts’ expectations 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 quarter last year, the company earned $1.65 EPS. Analysts predict that Devon Energy Co. will post 4.68 earnings per share for the current fiscal year.

Devon Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Friday, December 13th were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.88 annualized dividend and a dividend yield of 2.40%. Devon Energy’s dividend payout ratio (DPR) is presently 16.33%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on DVN. BMO Capital Markets dropped their price objective on shares of Devon Energy from $52.00 to $48.00 and set an “outperform” rating on the stock in a report on Friday, October 4th. TD Cowen cut their price objective on Devon Energy from $54.00 to $46.00 and set a “hold” rating on the stock in a report on Tuesday, November 5th. Mizuho reduced their price objective on Devon Energy from $51.00 to $47.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. JPMorgan Chase & Co. lowered Devon Energy from an “overweight” rating to a “neutral” rating and set a $43.00 target price on the stock. in a research report on Thursday, December 5th. Finally, Susquehanna reduced their price target on shares of Devon Energy from $63.00 to $62.00 and set a “positive” rating for the company in a research report on Friday, October 18th. Nine analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $49.27.

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.