Stephens Consulting LLC Makes New $112,000 Investment in Devon Energy Co. (NYSE:DVN)

Stephens Consulting LLC bought a new position in Devon Energy Co. (NYSE:DVN) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 3,000 shares of the energy company’s stock, valued at approximately $112,000.

Other hedge funds have also added to or reduced their stakes in the company. Hurley Capital LLC bought a new stake in Devon Energy in the fourth quarter worth approximately $26,000. Accredited Wealth Management LLC bought a new stake in Devon Energy in the fourth quarter worth approximately $28,000. Cromwell Holdings LLC increased its holdings in Devon Energy by 98.0% in the fourth quarter. Cromwell Holdings LLC now owns 1,208 shares of the energy company’s stock worth $40,000 after purchasing an additional 598 shares in the last quarter. Salem Investment Counselors Inc. increased its holdings in Devon Energy by 46.7% in the first quarter. Salem Investment Counselors Inc. now owns 1,257 shares of the energy company’s stock worth $47,000 after purchasing an additional 400 shares in the last quarter. Finally, Sierra Ocean LLC bought a new stake in shares of Devon Energy during the fourth quarter valued at approximately $43,000. 69.72% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

DVN has been the topic of a number of research reports. Williams Trading set a $50.00 target price on Devon Energy in a research report on Wednesday, March 5th. Bank of America lowered their target price on Devon Energy from $52.00 to $42.00 and set a “buy” rating on the stock in a research report on Tuesday, April 29th. Susquehanna lowered their target price on Devon Energy from $52.00 to $41.00 and set a “positive” rating on the stock in a research report on Tuesday, April 22nd. Morgan Stanley upped their target price on Devon Energy from $42.00 to $44.00 and gave the stock an “overweight” rating in a research report on Friday, May 23rd. Finally, Benchmark reaffirmed 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 assigned a buy rating to the stock. Based on data from MarketBeat, Devon Energy presently has a consensus rating of “Moderate Buy” and an average target price of $43.50.

Devon Energy Trading Down 1.4%

Shares of Devon Energy stock opened at $34.61 on Tuesday. Devon Energy Co. has a 1 year low of $25.89 and a 1 year high of $49.35. The firm has a market cap of $22.22 billion, a PE ratio of 7.59, a P/E/G ratio of 1.20 and a beta of 1.02. The stock has a fifty day moving average price of $31.54 and a 200-day moving average price of $33.57. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 1.01.

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

Devon Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.77%. The ex-dividend date of this dividend is Friday, June 13th. Devon Energy’s dividend payout ratio is presently 21.87%.

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.