Prospera Financial Services Inc Increases Stock Position in Devon Energy Corporation $DVN

Prospera Financial Services Inc boosted its holdings in Devon Energy Corporation (NYSE:DVN) by 44.9% in the 2nd quarter, Holdings Channel reports. The firm owned 34,163 shares of the energy company’s stock after purchasing an additional 10,592 shares during the period. Prospera Financial Services Inc’s holdings in Devon Energy were worth $1,087,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. TD Asset Management Inc increased its holdings in shares of Devon Energy by 6.4% in the second quarter. TD Asset Management Inc now owns 267,322 shares of the energy company’s stock valued at $8,504,000 after purchasing an additional 16,106 shares during the period. Savvy Advisors Inc. purchased a new position in Devon Energy in the 1st quarter valued at $384,000. Harvest Fund Management Co. Ltd acquired a new position in Devon Energy in the 1st quarter valued at $515,000. Stephens Inc. AR raised its position in Devon Energy by 90.4% during the 2nd quarter. Stephens Inc. AR now owns 72,546 shares of the energy company’s stock worth $2,308,000 after buying an additional 34,448 shares during the last quarter. Finally, Scott & Selber Inc. acquired a new stake in shares of Devon Energy in the 2nd quarter worth $2,455,000. Institutional investors and hedge funds own 69.72% of the company’s stock.

Devon Energy Stock Performance

NYSE DVN opened at $35.16 on Thursday. The business has a 50 day moving average price of $33.91 and a 200 day moving average price of $33.33. The company has a market capitalization of $22.06 billion, a P/E ratio of 7.88, a PEG ratio of 2.49 and a beta of 1.01. Devon Energy Corporation has a 1-year low of $25.89 and a 1-year high of $39.74. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.22 and a quick ratio of 1.13.

Devon Energy (NYSE:DVN) last announced its quarterly earnings results on Wednesday, November 5th. The energy company reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.11. The business had revenue of $0.00 million during the quarter, compared to analysts’ expectations of $4.10 billion. Devon Energy had a return on equity of 18.59% and a net margin of 16.57%.During the same quarter last year, the business posted $1.10 earnings per share. Sell-side analysts expect that Devon Energy Corporation will post 4.85 EPS for the current fiscal year.

Devon Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Monday, December 15th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Monday, December 15th. Devon Energy’s dividend payout ratio is 22.59%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Weiss Ratings lowered shares of Devon Energy from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, November 7th. UBS Group lifted their price objective on Devon Energy from $37.00 to $40.00 and gave the company a “neutral” rating in a report on Wednesday, August 20th. Scotiabank reissued an “outperform” rating on shares of Devon Energy in a research note on Thursday, October 9th. The Goldman Sachs Group reduced their price target on Devon Energy from $41.00 to $40.00 and set a “buy” rating for the company in a report on Wednesday, October 15th. Finally, Siebert Williams Shank dropped their price objective on Devon Energy from $52.00 to $46.00 and set a “buy” rating on the stock in a report on Monday, October 13th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.07.

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.