Bard Financial Services Inc. Has $1.08 Million Holdings in Devon Energy Co. (NYSE:DVN)

Bard Financial Services Inc. raised its position in Devon Energy Co. (NYSE:DVN) by 39.2% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 28,750 shares of the energy company’s stock after acquiring an additional 8,100 shares during the period. Bard Financial Services Inc.’s holdings in Devon Energy were worth $1,075,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Resona Asset Management Co. Ltd. acquired a new stake in Devon Energy in the fourth quarter valued at approximately $5,967,000. New York State Teachers Retirement System grew its stake in Devon Energy by 4.5% in the fourth quarter. New York State Teachers Retirement System now owns 736,351 shares of the energy company’s stock valued at $24,101,000 after acquiring an additional 31,520 shares during the period. Aviva PLC grew its stake in Devon Energy by 767.3% in the fourth quarter. Aviva PLC now owns 376,999 shares of the energy company’s stock valued at $12,339,000 after acquiring an additional 333,530 shares during the period. Ninepoint Partners LP grew its stake in Devon Energy by 12.5% in the fourth quarter. Ninepoint Partners LP now owns 450,000 shares of the energy company’s stock valued at $14,728,000 after acquiring an additional 50,000 shares during the period. Finally, Amundi grew its stake in Devon Energy by 2.3% in the fourth quarter. Amundi now owns 2,220,879 shares of the energy company’s stock valued at $78,064,000 after acquiring an additional 50,301 shares during the period. Institutional investors and hedge funds own 69.72% of the company’s stock.

Devon Energy Stock Performance

NYSE:DVN opened at $33.47 on Wednesday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.01 and a current ratio of 1.04. Devon Energy Co. has a 52-week low of $25.89 and a 52-week high of $49.35. The firm has a market cap of $21.49 billion, a price-to-earnings ratio of 7.34, a PEG ratio of 1.20 and a beta of 1.02. The business’s fifty day moving average is $31.00 and its 200 day moving average is $33.69.

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

Devon Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be paid a dividend of $0.24 per share. The ex-dividend date is Friday, June 13th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.87%. Devon Energy’s payout ratio is 21.87%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on DVN. Mizuho decreased their price target on Devon Energy from $46.00 to $43.00 and set an “outperform” rating for the company in a report on Tuesday, May 13th. Williams Trading set a $50.00 target price on shares of Devon Energy in a research note on Wednesday, March 5th. Scotiabank reduced their target price on shares of Devon Energy from $45.00 to $35.00 and set a “sector outperform” rating for the company in a research note on Friday, April 11th. Bank of America decreased their price objective on shares of Devon Energy from $52.00 to $42.00 and set a “buy” rating for the company in a research note on Tuesday, April 29th. Finally, Benchmark reissued a “buy” rating and set a $44.00 target price on shares of Devon Energy in a research report on Thursday, February 20th. Ten equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $43.71.

Devon Energy 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.