Devon Energy Co. (NYSE:DVN) Shares Acquired by J.W. Cole Advisors Inc.

J.W. Cole Advisors Inc. grew its stake in Devon Energy Co. (NYSE:DVNGet Rating) by 127.2% in the first quarter, Holdings Channel reports. The fund owned 18,777 shares of the energy company’s stock after purchasing an additional 10,511 shares during the period. J.W. Cole Advisors Inc.’s holdings in Devon Energy were worth $1,110,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of DVN. Allianz Asset Management GmbH increased its stake in shares of Devon Energy by 22.1% in the 4th quarter. Allianz Asset Management GmbH now owns 506,711 shares of the energy company’s stock worth $22,310,000 after acquiring an additional 91,651 shares during the last quarter. Ensign Peak Advisors Inc increased its stake in shares of Devon Energy by 66.2% in the 4th quarter. Ensign Peak Advisors Inc now owns 336,103 shares of the energy company’s stock worth $14,806,000 after acquiring an additional 133,897 shares during the last quarter. O Shaughnessy Asset Management LLC increased its position in shares of Devon Energy by 203.2% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 50,965 shares of the energy company’s stock worth $2,245,000 after purchasing an additional 34,158 shares during the last quarter. Level Four Advisory Services LLC acquired a new stake in shares of Devon Energy during the 4th quarter worth about $271,000. Finally, Geode Capital Management LLC increased its position in shares of Devon Energy by 5.1% during the 4th quarter. Geode Capital Management LLC now owns 12,797,427 shares of the energy company’s stock worth $562,357,000 after purchasing an additional 621,809 shares during the last quarter. 79.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

DVN has been the subject of a number of recent analyst reports. Mizuho raised their price objective on Devon Energy from $88.00 to $91.00 and gave the stock a “buy” rating in a research report on Thursday, August 18th. JPMorgan Chase & Co. downgraded Devon Energy from an “overweight” rating to a “neutral” rating and set a $83.00 price objective for the company. in a research report on Thursday. They noted that the move was a valuation call. StockNews.com downgraded Devon Energy from a “buy” rating to a “hold” rating in a research report on Wednesday, August 3rd. Morgan Stanley lifted their target price on Devon Energy from $67.00 to $69.00 and gave the company an “equal weight” rating in a research report on Monday, August 29th. Finally, Stifel Nicolaus lifted their target price on Devon Energy from $88.00 to $93.00 in a research report on Thursday, June 9th. Eight research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Devon Energy presently has a consensus rating of “Moderate Buy” and an average target price of $75.94.

Insider Buying and Selling

In related news, EVP Dennis C. Cameron sold 4,537 shares of the business’s stock in a transaction that occurred on Tuesday, July 5th. The stock was sold at an average price of $53.55, for a total transaction of $242,956.35. Following the completion of the sale, the executive vice president now owns 270,269 shares in the company, valued at $14,472,904.95. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.80% of the stock is owned by company insiders.

Devon Energy Stock Performance

Shares of DVN opened at $66.82 on Friday. The stock has a 50-day simple moving average of $63.43 and a 200-day simple moving average of $63.18. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.55 and a current ratio of 1.55. The stock has a market capitalization of $43.75 billion, a PE ratio of 8.48, a PEG ratio of 0.13 and a beta of 2.47. Devon Energy Co. has a 1 year low of $27.40 and a 1 year high of $79.40.

Devon Energy (NYSE:DVNGet Rating) last announced its quarterly earnings data on Monday, August 1st. The energy company reported $2.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.38 by $0.21. The business had revenue of $5.63 billion during the quarter, compared to analysts’ expectations of $4.77 billion. Devon Energy had a return on equity of 48.58% and a net margin of 30.65%. The business’s quarterly revenue was up 132.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.60 EPS. On average, analysts predict that Devon Energy Co. will post 9.33 earnings per share for the current fiscal year.

Devon Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Monday, September 12th will be paid a dividend of $1.55 per share. This is a boost from Devon Energy’s previous quarterly dividend of $1.27. The ex-dividend date of this dividend is Friday, September 9th. This represents a $6.20 annualized dividend and a yield of 9.28%. Devon Energy’s payout ratio is presently 9.14%.

Devon Energy Company Profile

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Devon Energy Corporation, an independent energy company, primarily engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States. It operates approximately 5,134 gross wells. Devon Energy Corporation was incorporated in 1971 and is headquartered in Oklahoma City, Oklahoma.

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Institutional Ownership by Quarter for Devon Energy (NYSE:DVN)

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