J.W. Cole Advisors Inc. Acquires 4,492 Shares of Devon Energy Co. (NYSE:DVN)

J.W. Cole Advisors Inc. increased its position in shares of Devon Energy Co. (NYSE:DVN) by 5.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 89,742 shares of the energy company’s stock after buying an additional 4,492 shares during the quarter. J.W. Cole Advisors Inc.’s holdings in Devon Energy were worth $4,065,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in DVN. Coppell Advisory Solutions LLC purchased a new stake in shares of Devon Energy during the second quarter valued at approximately $25,000. Canada Pension Plan Investment Board purchased a new stake in shares of Devon Energy during the first quarter valued at approximately $26,000. KB Financial Partners LLC bought a new position in Devon Energy during the first quarter valued at $26,000. Annis Gardner Whiting Capital Advisors LLC bought a new position in Devon Energy during the third quarter valued at $27,000. Finally, Sound Income Strategies LLC grew its holdings in Devon Energy by 60.7% during the fourth quarter. Sound Income Strategies LLC now owns 675 shares of the energy company’s stock valued at $31,000 after purchasing an additional 255 shares during the period. 69.72% of the stock is owned by institutional investors and hedge funds.

Devon Energy Stock Performance

Shares of DVN opened at $51.83 on Friday. The company has a current ratio of 1.07, a quick ratio of 0.99 and a debt-to-equity ratio of 0.46. The stock has a market cap of $32.91 billion, a P/E ratio of 8.89 and a beta of 2.19. The company has a 50-day moving average of $47.89 and a two-hundred day moving average of $45.90. Devon Energy Co. has a 12-month low of $40.47 and a 12-month high of $55.09.

Devon Energy (NYSE:DVN) last announced its earnings results on Tuesday, February 27th. The energy company reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $0.02. The company had revenue of $4.15 billion during the quarter, compared to analysts’ expectations of $3.88 billion. Devon Energy had a net margin of 24.56% and a return on equity of 31.72%. The firm’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.66 earnings per share. As a group, research analysts predict that Devon Energy Co. will post 5.14 EPS for the current fiscal year.

Devon Energy Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were issued a $0.44 dividend. The ex-dividend date was Thursday, March 14th. This represents a $1.76 annualized dividend and a yield of 3.40%. Devon Energy’s dividend payout ratio is presently 15.09%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on DVN shares. Stifel Nicolaus lowered their price objective on Devon Energy from $75.00 to $65.00 and set a “buy” rating on the stock in a research report on Friday, March 22nd. Wells Fargo & Company upgraded Devon Energy from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $46.00 to $59.00 in a research report on Monday, April 1st. Citigroup increased their price objective on Devon Energy from $55.00 to $62.00 and gave the stock a “buy” rating in a research report on Thursday, April 11th. Royal Bank of Canada restated a “sector perform” rating and set a $55.00 price target on shares of Devon Energy in a research report on Thursday, March 7th. Finally, JPMorgan Chase & Co. raised their price target on Devon Energy from $57.00 to $62.00 and gave the company an “overweight” rating in a research report on Monday, April 8th. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $57.94.

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.