Cetera Advisors LLC grew its stake in Devon Energy Co. (NYSE:DVN – Free Report) by 4.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,266 shares of the energy company’s stock after purchasing an additional 1,229 shares during the period. Cetera Advisors LLC’s holdings in Devon Energy were worth $1,270,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of the stock. Wahed Invest LLC grew its holdings in Devon Energy by 2.1% during the first quarter. Wahed Invest LLC now owns 7,933 shares of the energy company’s stock worth $469,000 after acquiring an additional 161 shares during the period. MCF Advisors LLC grew its holdings in Devon Energy by 8.5% during the second quarter. MCF Advisors LLC now owns 2,459 shares of the energy company’s stock worth $119,000 after acquiring an additional 192 shares during the period. Duncker Streett & Co. Inc. grew its holdings 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 period. Janiczek Wealth Management LLC grew its holdings in 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 holdings in Devon Energy by 4.6% during the second quarter. Diligent Investors LLC now owns 4,639 shares of the energy company’s stock worth $224,000 after acquiring an additional 202 shares during the period. Institutional investors and hedge funds own 68.34% of the company’s stock.
Analyst Upgrades and Downgrades
DVN has been the topic of a number of recent analyst reports. Sanford C. Bernstein lowered Devon Energy from an “outperform” rating to a “market perform” rating and set a $48.00 price objective on the stock. in a report on Tuesday, October 17th. Mizuho lowered their target price on Devon Energy from $62.00 to $58.00 and set a “buy” rating on the stock in a report on Thursday, October 12th. StockNews.com began coverage on Devon Energy in a report on Thursday, October 5th. They issued a “hold” rating on the stock. Raymond James lowered their target price on Devon Energy from $70.00 to $62.00 and set a “strong-buy” rating on the stock in a report on Monday, July 24th. Finally, Bank of America upped their target price on Devon Energy from $54.00 to $58.00 in a report on Wednesday, September 27th. Seven investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $58.18.
Devon Energy Stock Performance
Devon Energy stock opened at $45.65 on Tuesday. The stock’s 50-day moving average is $47.05 and its 200-day moving average is $48.84. The company has a market cap of $29.25 billion, a price-to-earnings ratio of 7.80, a price-to-earnings-growth ratio of 0.15 and a beta of 2.30. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.96 and a quick ratio of 0.89. Devon Energy Co. has a 12 month low of $42.59 and a 12 month high of $70.43.
Devon Energy Increases Dividend
The company also recently disclosed 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. This represents a $3.08 dividend on an annualized basis and a dividend yield of 6.75%. This is an increase from Devon Energy’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend is Thursday, December 14th. Devon Energy’s dividend payout ratio (DPR) is 13.68%.
About Devon Energy
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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