Wealthfront Advisers LLC trimmed its holdings in shares of Devon Energy Corporation (NYSE:DVN – Free Report) by 10.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 298,292 shares of the energy company’s stock after selling 34,155 shares during the quarter. Wealthfront Advisers LLC’s holdings in Devon Energy were worth $11,156,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Hurley Capital LLC acquired a new stake in shares of Devon Energy during the 4th quarter worth about $26,000. Financial Gravity Asset Management Inc. acquired a new position in Devon Energy in the 1st quarter valued at about $26,000. Accredited Wealth Management LLC acquired a new position in Devon Energy in the 4th quarter valued at about $28,000. Rakuten Securities Inc. lifted its holdings in Devon Energy by 94.6% during the 1st quarter. Rakuten Securities Inc. now owns 833 shares of the energy company’s stock worth $31,000 after buying an additional 405 shares in the last quarter. Finally, Hughes Financial Services LLC acquired a new stake in Devon Energy during the 1st quarter worth approximately $38,000. 69.72% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of equities research analysts have issued reports on DVN shares. Bank of America reduced their target price on shares of Devon Energy from $52.00 to $42.00 and set a “buy” rating on the stock in a report on Tuesday, April 29th. Siebert Williams Shank lifted their price objective on Devon Energy from $47.00 to $52.00 and gave the company a “buy” rating in a research note on Monday, June 23rd. Wolfe Research lifted their price objective on Devon Energy from $47.00 to $49.00 and gave the company an “outperform” rating in a research note on Monday, June 23rd. Morgan Stanley reiterated an “overweight” rating and issued a $46.00 price objective (up previously from $44.00) on shares of Devon Energy in a research note on Tuesday. Finally, Wall Street Zen upgraded Devon Energy from a “sell” rating to a “hold” rating in a research note on Thursday, May 15th. Eleven equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.48.
Devon Energy Price Performance
Shares of NYSE DVN opened at $32.24 on Wednesday. The company has a current ratio of 1.08, a quick ratio of 0.99 and a debt-to-equity ratio of 0.57. Devon Energy Corporation has a twelve month low of $25.89 and a twelve month high of $49.35. The stock has a 50 day moving average of $32.77 and a two-hundred day moving average of $33.55. The stock has a market cap of $20.70 billion, a P/E ratio of 7.34, a P/E/G ratio of 2.50 and a beta of 1.02.
Devon Energy (NYSE:DVN – Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The energy company reported $1.21 EPS for the quarter, missing the consensus estimate of $1.27 by ($0.06). Devon Energy had a return on equity of 21.90% and a net margin of 16.60%. The company had revenue of $4.45 billion for the quarter, compared to analysts’ expectations of $4.31 billion. During the same quarter last year, the company earned $1.16 EPS. Devon Energy’s revenue for the quarter was up 23.8% compared to the same quarter last year. On average, research analysts forecast that Devon Energy Corporation will post 4.85 earnings per share for the current year.
Devon Energy Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.98%. The ex-dividend date was Friday, June 13th. Devon Energy’s dividend payout ratio (DPR) 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.
Featured Articles
- Five stocks we like better than Devon Energy
- Natural Gas Prices Continue To Rally, These Stocks Should Benefit
- JPMorgan Q2 Results Affirm Dividend, Buybacks, & Growth
- What is a Death Cross in Stocks?
- Goldman Spotlights These 3 Stocks in Its Bullish S&P 500 Outlook
- Stock Splits, Do They Really Impact Investors?
- Fastenal Surges After Earnings Beat, Tariff Risks Loom
Receive News & Ratings for Devon Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Devon Energy and related companies with MarketBeat.com's FREE daily email newsletter.