Bogart Wealth LLC Boosts Holdings in Devon Energy Co. (NYSE:DVN)

Bogart Wealth LLC boosted its position in shares of Devon Energy Co. (NYSE:DVN) by 15.6% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 3,706 shares of the energy company’s stock after purchasing an additional 500 shares during the quarter. Bogart Wealth LLC’s holdings in Devon Energy were worth $145,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of DVN. Triad Wealth Partners LLC bought a new stake in shares of Devon Energy during the second quarter valued at approximately $27,000. Tradewinds Capital Management LLC bought a new stake in shares of Devon Energy in the 1st quarter worth $30,000. 1620 Investment Advisors Inc. purchased a new position in shares of Devon Energy in the second quarter worth $34,000. PSI Advisors LLC lifted its holdings in shares of Devon Energy by 66.7% during the second quarter. PSI Advisors LLC now owns 750 shares of the energy company’s stock valued at $36,000 after purchasing an additional 300 shares in the last quarter. Finally, LRI Investments LLC purchased a new stake in shares of Devon Energy during the first quarter valued at $39,000. 69.72% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

DVN has been the topic of several research analyst reports. Morgan Stanley lowered their target price on shares of Devon Energy from $55.00 to $51.00 and set an “overweight” rating on the stock in a research note on Monday, September 16th. Benchmark restated a “hold” rating on shares of Devon Energy in a report on Tuesday, October 15th. JPMorgan Chase & Co. decreased their target price on shares of Devon Energy from $64.00 to $51.00 and set an “overweight” rating for the company in a research note on Thursday, September 12th. Mizuho cut their price objective on Devon Energy from $53.00 to $51.00 and set an “outperform” rating for the company in a report on Wednesday, October 9th. Finally, StockNews.com downgraded Devon Energy from a “buy” rating to a “hold” rating in a report on Monday, September 2nd. Nine analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $52.53.

Devon Energy Price Performance

Shares of Devon Energy stock opened at $39.51 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.11 and a debt-to-equity ratio of 0.45. Devon Energy Co. has a 52 week low of $37.76 and a 52 week high of $55.09. The stock’s 50-day simple moving average is $41.74 and its 200-day simple moving average is $45.96. The company has a market capitalization of $24.97 billion, a price-to-earnings ratio of 7.54, a PEG ratio of 1.27 and a beta of 2.02.

Devon Energy (NYSE:DVN) last announced its quarterly earnings data on Tuesday, August 6th. The energy company reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.26 by $0.15. Devon Energy had a net margin of 22.60% and a return on equity of 29.14%. The business had revenue of $3.92 billion during the quarter, compared to analyst estimates of $3.90 billion. During the same period last year, the firm posted $1.18 EPS. The company’s revenue was up 13.4% on a year-over-year basis. As a group, analysts expect that Devon Energy Co. will post 5.01 earnings per share for the current fiscal year.

Devon Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.23%. The ex-dividend date was Friday, September 13th. Devon Energy’s dividend payout ratio (DPR) is presently 16.79%.

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.