William B. Walkup & Associates Inc. Grows Holdings in Devon Energy Co. (NYSE:DVN)

William B. Walkup & Associates Inc. increased its stake in shares of Devon Energy Co. (NYSE:DVN) by 3.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 22,979 shares of the energy company’s stock after purchasing an additional 830 shares during the period. William B. Walkup & Associates Inc.’s holdings in Devon Energy were worth $752,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Hurley Capital LLC purchased a new position in shares of Devon Energy during the fourth quarter worth $26,000. Accredited Wealth Management LLC acquired a new position in Devon Energy during the 4th quarter worth about $28,000. Cromwell Holdings LLC boosted its holdings in Devon Energy by 98.0% during the 4th quarter. Cromwell Holdings LLC now owns 1,208 shares of the energy company’s stock valued at $40,000 after acquiring an additional 598 shares during the period. Sierra Ocean LLC purchased a new position in Devon Energy during the 4th quarter valued at about $43,000. Finally, Endeavor Private Wealth Inc. acquired a new position in Devon Energy in the 4th quarter valued at about $52,000. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Devon Energy Stock Performance

NYSE DVN opened at $32.66 on Tuesday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 1.01. The company has a market capitalization of $20.97 billion, a P/E ratio of 7.16, a PEG ratio of 1.20 and a beta of 1.00. Devon Energy Co. has a 1-year low of $25.89 and a 1-year high of $50.24. The business has a 50 day moving average price of $32.46 and a 200 day moving average price of $34.48.

Devon Energy (NYSE:DVN) last posted its earnings results on Tuesday, May 6th. The energy company reported $1.21 earnings per share for the quarter, missing the consensus estimate of $1.27 by ($0.06). The business had revenue of $4.45 billion for the quarter, compared to analysts’ expectations of $4.31 billion. Devon Energy had a net margin of 18.14% and a return on equity of 22.52%. The business’s revenue was up 23.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.16 earnings per share. Sell-side analysts expect that Devon Energy Co. will post 4.85 EPS for the current fiscal year.

Devon Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.94%. The ex-dividend date of this dividend is Friday, June 13th. Devon Energy’s dividend payout ratio is presently 21.87%.

Analyst Ratings Changes

DVN has been the topic of several research reports. Cowen cut shares of Devon Energy to a “hold” rating and reduced their price target for the stock from $46.00 to $45.00 in a research report on Tuesday, February 18th. Mizuho reduced their target price on shares of Devon Energy from $46.00 to $43.00 and set an “outperform” rating on the stock in a report on Tuesday, May 13th. Morgan Stanley set a $47.00 price target on shares of Devon Energy and gave the stock an “overweight” rating in a research note on Wednesday, March 26th. StockNews.com upgraded Devon Energy from a “sell” rating to a “hold” rating in a research note on Thursday, May 15th. Finally, UBS Group decreased their target price on Devon Energy from $41.00 to $35.00 and set a “neutral” rating for the company in a report on Monday, April 7th. Ten investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $43.83.

About Devon Energy

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.