IFP Advisors Inc Acquires 22,770 Shares of Devon Energy Co. (NYSE:DVN)

IFP Advisors Inc grew its holdings in Devon Energy Co. (NYSE:DVN) by 120.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 41,611 shares of the energy company’s stock after purchasing an additional 22,770 shares during the period. IFP Advisors Inc’s holdings in Devon Energy were worth $1,362,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Allworth Financial LP grew its position in Devon Energy by 8.7% in the third quarter. Allworth Financial LP now owns 6,079 shares of the energy company’s stock valued at $238,000 after acquiring an additional 484 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Devon Energy by 19.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 61,970 shares of the energy company’s stock valued at $2,414,000 after purchasing an additional 10,141 shares during the last quarter. State of Alaska Department of Revenue increased its position in Devon Energy by 1.5% during the 3rd quarter. State of Alaska Department of Revenue now owns 75,210 shares of the energy company’s stock worth $2,941,000 after purchasing an additional 1,085 shares in the last quarter. Pallas Capital Advisors LLC bought a new position in Devon Energy in the 3rd quarter valued at approximately $285,000. Finally, Integrated Advisors Network LLC boosted its position in Devon Energy by 6.0% in the third quarter. Integrated Advisors Network LLC now owns 7,875 shares of the energy company’s stock valued at $308,000 after buying an additional 446 shares in the last quarter. Institutional investors own 69.72% of the company’s stock.

Devon Energy Trading Down 1.5 %

NYSE DVN opened at $35.36 on Thursday. The stock has a market capitalization of $22.95 billion, a P/E ratio of 7.75, a P/E/G ratio of 1.20 and a beta of 1.98. The business has a 50 day simple moving average of $34.73 and a 200 day simple moving average of $38.18. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 1.01. Devon Energy Co. has a one year low of $30.39 and a one year high of $55.09.

Devon Energy (NYSE:DVN) last released its quarterly earnings data on Tuesday, February 18th. The energy company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.16. Devon Energy had a net margin of 18.14% and a return on equity of 22.52%. The company had revenue of $4.40 billion during the quarter, compared to analyst estimates of $4.25 billion. Research analysts expect that Devon Energy Co. will post 4.85 earnings per share for the current year.

Devon Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.96 annualized dividend and a dividend yield of 2.72%. This is a positive change from Devon Energy’s previous quarterly dividend of $0.22. Devon Energy’s dividend payout ratio is currently 21.05%.

Analyst Ratings Changes

Several brokerages have recently issued reports on DVN. StockNews.com upgraded shares of Devon Energy from a “sell” rating to a “hold” rating in a report on Friday, January 3rd. Sanford C. Bernstein raised Devon Energy from a “market perform” rating to an “outperform” rating and set a $45.00 target price for the company in a report on Wednesday, January 15th. Benchmark reissued a “buy” rating and set a $44.00 price target on shares of Devon Energy in a research note on Thursday, February 20th. Citigroup lowered their price objective on Devon Energy from $55.00 to $48.00 and set a “buy” rating for the company in a research note on Tuesday, November 26th. Finally, Susquehanna lifted their target price on shares of Devon Energy from $50.00 to $52.00 and gave the stock a “positive” rating in a research report on Thursday, February 20th. Ten research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $48.87.

Devon Energy 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.