First Dallas Securities Inc. increased its position in Devon Energy Co. (NYSE:DVN - Free Report) by 183.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,955 shares of the energy company's stock after buying an additional 25,854 shares during the period. First Dallas Securities Inc.'s holdings in Devon Energy were worth $1,563,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Archer Investment Corp grew its holdings in shares of Devon Energy by 2.8% during the second quarter. Archer Investment Corp now owns 8,535 shares of the energy company's stock valued at $405,000 after buying an additional 235 shares during the last quarter. Institute for Wealth Management LLC. grew its stake in Devon Energy by 4.0% during the 2nd quarter. Institute for Wealth Management LLC. now owns 6,234 shares of the energy company's stock valued at $296,000 after purchasing an additional 237 shares during the last quarter. SkyOak Wealth LLC grew its stake in shares of Devon Energy by 4.1% during the 2nd quarter. SkyOak Wealth LLC now owns 6,297 shares of the energy company's stock worth $298,000 after purchasing an additional 250 shares during the period. SeaCrest Wealth Management LLC boosted its holdings in Devon Energy by 0.8% during the second quarter. SeaCrest Wealth Management LLC now owns 33,340 shares of the energy company's stock worth $1,580,000 after buying an additional 252 shares in the last quarter. Finally, Riversedge Advisors LLC grew its position in Devon Energy by 3.6% during the third quarter. Riversedge Advisors LLC now owns 7,336 shares of the energy company's stock valued at $287,000 after buying an additional 253 shares during the period. 69.72% of the stock is owned by institutional investors.
A number of research analysts have weighed in on the stock. TD Cowen decreased their price objective on shares of Devon Energy from $54.00 to $46.00 and set a "hold" rating for the company in a research report on Tuesday, November 5th. Barclays lowered their price target on Devon Energy from $55.00 to $46.00 and set an "equal weight" rating on the stock in a research report on Thursday, October 3rd. Mizuho reduced their target price on Devon Energy from $53.00 to $51.00 and set an "outperform" rating for the company in a research note on Wednesday, October 9th. JPMorgan Chase & Co. lowered Devon Energy from an "overweight" rating to a "neutral" rating and set a $43.00 price objective for the company. in a research note on Thursday, December 5th. Finally, Raymond James decreased their target price on Devon Energy from $58.00 to $51.00 in a research report on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, Devon Energy currently has an average rating of "Hold" and a consensus price target of $50.75.
Check Out Our Latest Stock Analysis on DVN
NYSE:DVN opened at $35.52 on Tuesday. The stock has a market capitalization of $23.33 billion, a P/E ratio of 6.59, a PEG ratio of 1.11 and a beta of 1.99. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.11. Devon Energy Co. has a fifty-two week low of $34.76 and a fifty-two week high of $55.09. The company has a 50 day moving average price of $39.28 and a 200 day moving average price of $42.93.
Devon Energy (NYSE:DVN - Get Free Report) last issued its quarterly earnings data on Tuesday, November 5th. The energy company reported $1.10 earnings per share for the quarter, beating analysts' consensus estimates of $1.09 by $0.01. Devon Energy had a return on equity of 24.73% and a net margin of 21.71%. The business had revenue of $4.02 billion during the quarter, compared to analysts' expectations of $3.72 billion. During the same period in the previous year, the firm posted $1.65 earnings per share. The company's revenue was up 4.9% on a year-over-year basis. Equities research analysts forecast that Devon Energy Co. will post 4.79 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, December 13th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.48%. The ex-dividend date is Friday, December 13th. Devon Energy's payout ratio is 16.33%.
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.
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