Adirondack Retirement Specialists Inc. Has $1.16 Million Holdings in Devon Energy Co. (NYSE:DVN)

Adirondack Retirement Specialists Inc. increased its stake in Devon Energy Co. (NYSE:DVN – Get Rating) by 21.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,861 shares of the energy company’s stock after purchasing an additional 3,376 shares during the period. Devon Energy accounts for 1.2% of Adirondack Retirement Specialists Inc.’s portfolio, making the stock its 12th largest holding. Adirondack Retirement Specialists Inc.’s holdings in Devon Energy were worth $1,160,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently bought and sold shares of the stock. WFA of San Diego LLC bought a new stake in shares of Devon Energy during the 4th quarter valued at $25,000. Tradewinds Capital Management LLC raised its position in shares of Devon Energy by 115.0% during the 4th quarter. Tradewinds Capital Management LLC now owns 430 shares of the energy company’s stock valued at $26,000 after acquiring an additional 230 shares during the last quarter. Canada Pension Plan Investment Board bought a new stake in shares of Devon Energy during the 1st quarter valued at $26,000. Romano Brothers AND Company bought a new stake in shares of Devon Energy during the 4th quarter valued at $29,000. Finally, American National Bank raised its position in shares of Devon Energy by 91.3% during the 4th quarter. American National Bank now owns 503 shares of the energy company’s stock valued at $31,000 after acquiring an additional 240 shares during the last quarter. Institutional investors own 78.08% of the company’s stock.

Devon Energy Price Performance

Shares of NYSE DVN opened at $49.20 on Monday. Devon Energy Co. has a twelve month low of $44.03 and a twelve month high of $79.40. The company has a market capitalization of $32.18 billion, a PE ratio of 5.37, a P/E/G ratio of 0.15 and a beta of 2.34. The firm has a fifty day simple moving average of $50.63 and a 200 day simple moving average of $58.34. The company has a quick ratio of 1.02, a current ratio of 1.09 and a debt-to-equity ratio of 0.56.

Devon Energy (NYSE:DVN – Get Rating) last released its earnings results on Monday, May 8th. The energy company reported $1.46 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.07. Devon Energy had a net margin of 31.39% and a return on equity of 47.42%. The firm had revenue of $3.82 billion for the quarter, compared to analysts’ expectations of $3.82 billion. During the same period in the previous year, the company earned $1.88 earnings per share. The company’s quarterly revenue was up .3% on a year-over-year basis. On average, sell-side analysts forecast that Devon Energy Co. will post 6.43 EPS for the current year.

Devon Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Thursday, June 15th will be given a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 5.85%. The ex-dividend date is Wednesday, June 14th. Devon Energy’s dividend payout ratio (DPR) is currently 8.72%.

Insider Activity

In other news, EVP Dennis C. Cameron sold 8,292 shares of the firm’s stock in a transaction on Friday, May 5th. The shares were sold at an average price of $49.97, for a total transaction of $414,351.24. Following the sale, the executive vice president now owns 218,418 shares in the company, valued at approximately $10,914,347.46. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on DVN. Morgan Stanley lowered their price objective on shares of Devon Energy from $52.00 to $49.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 19th. Mizuho lowered their price objective on shares of Devon Energy from $71.00 to $65.00 in a research report on Friday. Bank of America reduced their target price on shares of Devon Energy from $67.00 to $60.00 in a research note on Tuesday, May 9th. Susquehanna reduced their price objective on shares of Devon Energy from $79.00 to $72.00 and set a “positive” rating for the company in a research note on Thursday, February 16th. Finally, UBS Group started coverage on shares of Devon Energy in a research note on Wednesday, April 19th. They set a “neutral” rating and a $60.00 price objective for the company. One analyst has rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $69.74.

About Devon Energy

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Devon Energy Corp. engages in the exploration, development, and production of oil and natural gas properties. It develops and operates Delaware Basin, Eagle Ford, Heavy Oil, Barnett Shale, STACK, and Rockies Oil. The company was founded by J. Larry Nichols and John W. Nichols in 1971 and is headquartered in Oklahoma City, OK.