Triton Wealth Management PLLC grew its position in Devon Energy Co. (NYSE:DVN – Free Report) by 1.9% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 13,585 shares of the energy company’s stock after purchasing an additional 250 shares during the period. Triton Wealth Management PLLC’s holdings in Devon Energy were worth $675,000 as of its most recent filing with the SEC.
Other large investors have also made changes to their positions in the company. Wahed Invest LLC raised its position in shares of Devon Energy by 2.1% in the first quarter. Wahed Invest LLC now owns 7,933 shares of the energy company’s stock valued at $469,000 after purchasing an additional 161 shares during the period. MCF Advisors LLC raised its holdings in Devon Energy by 8.5% in the 2nd quarter. MCF Advisors LLC now owns 2,459 shares of the energy company’s stock valued at $119,000 after acquiring an additional 192 shares during the period. Duncker Streett & Co. Inc. lifted its position in Devon Energy by 13.2% during the second quarter. Duncker Streett & Co. Inc. now owns 1,715 shares of the energy company’s stock worth $83,000 after acquiring an additional 200 shares during the last quarter. Janiczek Wealth Management LLC boosted its holdings in shares of Devon Energy by 6.0% during the second quarter. Janiczek Wealth Management LLC now owns 3,543 shares of the energy company’s stock worth $171,000 after acquiring an additional 202 shares during the period. Finally, Diligent Investors LLC grew its position in shares of Devon Energy by 4.6% in the second quarter. Diligent Investors LLC now owns 4,639 shares of the energy company’s stock valued at $224,000 after purchasing an additional 202 shares during the last quarter. Institutional investors own 68.34% of the company’s stock.
Analyst Upgrades and Downgrades
Several research firms recently weighed in on DVN. StockNews.com began coverage on Devon Energy in a report on Thursday, October 5th. They set a “hold” rating for the company. Sanford C. Bernstein cut shares of Devon Energy from an “outperform” rating to a “market perform” rating and set a $48.00 target price for the company. in a research report on Tuesday, October 17th. JPMorgan Chase & Co. lowered their price target on shares of Devon Energy from $60.00 to $59.00 in a research report on Wednesday, October 11th. Mizuho cut their price objective on shares of Devon Energy from $62.00 to $58.00 and set a “buy” rating for the company in a report on Thursday, October 12th. Finally, Raymond James lowered their target price on shares of Devon Energy from $70.00 to $62.00 and set a “strong-buy” rating on the stock in a report on Monday, July 24th. Seven analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $58.18.
Devon Energy Price Performance
Shares of Devon Energy stock traded up $1.07 during trading on Friday, reaching $45.36. 9,350,216 shares of the company’s stock were exchanged, compared to its average volume of 8,989,467. The firm’s 50-day moving average price is $47.16 and its 200 day moving average price is $48.85. The company has a market cap of $29.06 billion, a P/E ratio of 7.75, a PEG ratio of 0.15 and a beta of 2.30. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.89 and a current ratio of 0.96. Devon Energy Co. has a 1-year low of $42.59 and a 1-year high of $70.43.
Devon Energy Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be issued a $0.77 dividend. The ex-dividend date is Thursday, December 14th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 6.79%. This is a boost from Devon Energy’s previous quarterly dividend of $0.49. Devon Energy’s dividend payout ratio is 13.68%.
Devon Energy Company Profile
Devon Energy Corporation, an independent energy company, explores for, develops, and produces oil, natural gas, and natural gas liquids in the United States. It operates in Delaware, Anadarko, Williston, Eagle Ford, and Powder River Basin. The company was incorporated in 1971 and is headquartered in Oklahoma City, Oklahoma.
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