Wealth Effects LLC Has $996,000 Stock Holdings in Devon Energy Co. (NYSE:DVN)

Wealth Effects LLC grew its position in Devon Energy Co. (NYSE:DVN) by 185.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 30,432 shares of the energy company’s stock after acquiring an additional 19,759 shares during the quarter. Wealth Effects LLC’s holdings in Devon Energy were worth $996,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of DVN. William B. Walkup & Associates Inc. acquired a new stake in Devon Energy during the second quarter worth $1,026,000. Bridgewater Associates LP bought a new position in shares of Devon Energy during the 3rd quarter worth about $9,426,000. Legacy Investment Solutions LLC acquired a new stake in shares of Devon Energy during the 3rd quarter valued at about $8,002,000. Petrus Trust Company LTA increased its stake in Devon Energy by 394.7% in the third quarter. Petrus Trust Company LTA now owns 21,827 shares of the energy company’s stock valued at $854,000 after acquiring an additional 17,415 shares during the period. Finally, CIBC Asset Management Inc raised its position in Devon Energy by 6.3% in the third quarter. CIBC Asset Management Inc now owns 107,182 shares of the energy company’s stock worth $4,193,000 after purchasing an additional 6,358 shares in the last quarter. Institutional investors and hedge funds own 69.72% of the company’s stock.

Wall Street Analyst Weigh In

DVN has been the topic of a number of recent research reports. Wells Fargo & Company decreased their price objective on Devon Energy from $49.00 to $43.00 and set an “overweight” rating on the stock in a report on Tuesday, December 17th. Jefferies Financial Group started coverage on Devon Energy in a research note on Thursday, October 3rd. They issued a “hold” rating and a $45.00 price target on the stock. StockNews.com raised Devon Energy from a “sell” rating to a “hold” rating in a report on Friday, January 3rd. Barclays lowered their target price on shares of Devon Energy from $55.00 to $46.00 and set an “equal weight” rating on the stock in a report on Thursday, October 3rd. Finally, Mizuho cut their price target on shares of Devon Energy from $51.00 to $47.00 and set an “outperform” rating for the company in a report on Monday, December 16th. Nine analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $49.41.

Devon Energy Trading Down 1.8 %

DVN opened at $35.33 on Tuesday. Devon Energy Co. has a fifty-two week low of $30.39 and a fifty-two week high of $55.09. The company has a market cap of $23.20 billion, a price-to-earnings ratio of 6.55, a price-to-earnings-growth ratio of 1.21 and a beta of 2.00. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.11 and a quick ratio of 1.01. The firm has a 50 day simple moving average of $35.20 and a 200 day simple moving average of $39.78.

Devon Energy (NYSE:DVN) last posted its quarterly earnings results 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 company had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $3.72 billion. During the same quarter in the prior year, the business posted $1.65 EPS. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. On average, sell-side analysts anticipate that Devon Energy Co. will post 4.7 earnings per share for the current year.

Devon Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Friday, December 13th were given a dividend of $0.22 per share. The ex-dividend date was Friday, December 13th. This represents a $0.88 annualized dividend and a dividend yield of 2.49%. Devon Energy’s payout ratio is currently 16.33%.

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.