Woodstock Corp Buys New Stake in Devon Energy Co. (NYSE:DVN)

Woodstock Corp acquired a new position in shares of Devon Energy Co. (NYSE:DVN - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 12,000 shares of the energy company's stock, valued at approximately $393,000.

Several other institutional investors have also recently made changes to their positions in the company. KMG Fiduciary Partners LLC grew its stake in Devon Energy by 164.6% in the 4th quarter. KMG Fiduciary Partners LLC now owns 94,986 shares of the energy company's stock valued at $3,109,000 after acquiring an additional 59,086 shares during the period. Empirical Asset Management LLC purchased a new stake in shares of Devon Energy during the fourth quarter worth about $763,000. Paragon Capital Management Ltd raised its position in shares of Devon Energy by 2.7% during the 4th quarter. Paragon Capital Management Ltd now owns 15,439 shares of the energy company's stock worth $505,000 after purchasing an additional 400 shares during the last quarter. Stolper Co lifted its stake in Devon Energy by 2.3% in the 4th quarter. Stolper Co now owns 134,255 shares of the energy company's stock valued at $4,394,000 after buying an additional 3,029 shares in the last quarter. Finally, Cliftonlarsonallen Wealth Advisors LLC boosted its holdings in Devon Energy by 0.6% in the 4th quarter. Cliftonlarsonallen Wealth Advisors LLC now owns 98,546 shares of the energy company's stock worth $3,225,000 after buying an additional 572 shares during the last quarter. 69.72% of the stock is owned by hedge funds and other institutional investors.

Devon Energy Stock Down 1.2 %

Shares of DVN stock traded down $0.44 during trading on Friday, reaching $37.98. The company's stock had a trading volume of 9,286,433 shares, compared to its average volume of 10,897,981. The company has a market capitalization of $24.95 billion, a price-to-earnings ratio of 7.05, a P/E/G ratio of 1.14 and a beta of 2.00. Devon Energy Co. has a 1-year low of $30.39 and a 1-year high of $55.09. 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 stock's 50-day moving average price is $35.50 and its 200 day moving average price is $40.39.

Devon Energy (NYSE:DVN - Get Free Report) last announced its quarterly earnings data on Tuesday, November 5th. The energy company reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts' expectations of $3.72 billion. During the same period last year, the firm earned $1.65 earnings per share. The company's revenue for the quarter was up 4.9% compared to the same quarter last year. On average, research analysts anticipate that Devon Energy Co. will post 4.72 EPS for the current year.

Devon Energy Announces Dividend

The business also recently disclosed 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. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date was Friday, December 13th. Devon Energy's dividend payout ratio is presently 16.33%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on DVN shares. Raymond James lowered their price target on Devon Energy from $58.00 to $51.00 in a research note on Tuesday, November 5th. Evercore ISI dropped their target price on shares of Devon Energy from $55.00 to $50.00 and set an "in-line" rating for the company in a report on Monday, September 30th. Jefferies Financial Group started coverage on shares of Devon Energy in a research report on Thursday, October 3rd. They set a "hold" rating and a $45.00 price target on the stock. Sanford C. Bernstein raised shares of Devon Energy from a "market perform" rating to an "outperform" rating and set a $45.00 target price on the stock in a research note on Wednesday. Finally, StockNews.com raised Devon Energy from a "sell" rating to a "hold" rating in a report on Friday, January 3rd. Nine analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $49.27.

Devon Energy 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.