Adams Wealth Management Has $2.49 Million Stock Holdings in Devon Energy Co. (NYSE:DVN)

Adams Wealth Management increased its holdings in shares of Devon Energy Co. (NYSE:DVN - Free Report) by 26.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 76,141 shares of the energy company's stock after acquiring an additional 15,999 shares during the quarter. Adams Wealth Management's holdings in Devon Energy were worth $2,492,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of DVN. Hurley Capital LLC bought a new stake in Devon Energy in the fourth quarter worth about $26,000. Cromwell Holdings LLC grew its holdings in shares of Devon Energy by 98.0% during the 4th quarter. Cromwell Holdings LLC now owns 1,208 shares of the energy company's stock valued at $40,000 after acquiring an additional 598 shares in the last quarter. Sierra Ocean LLC acquired a new stake in shares of Devon Energy during the 4th quarter valued at about $43,000. Endeavor Private Wealth Inc. bought a new position in Devon Energy during the fourth quarter valued at about $52,000. Finally, Thompson Investment Management Inc. boosted its holdings in shares of Devon Energy by 60.0% during the 4th quarter. Thompson Investment Management Inc. now owns 1,600 shares of the energy company's stock worth $52,000 after buying an additional 600 shares during the period. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Devon Energy Trading Up 3.4 %

DVN stock traded up $0.99 during midday trading on Friday, hitting $30.29. 10,348,261 shares of the company's stock were exchanged, compared to its average volume of 8,456,363. Devon Energy Co. has a one year low of $25.89 and a one year high of $53.20. The stock's fifty day moving average price is $33.92 and its 200-day moving average price is $35.83. The company has a market cap of $19.66 billion, a PE ratio of 6.64, a price-to-earnings-growth ratio of 1.20 and a beta of 1.50. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.01 and a current ratio of 1.04.

Devon Energy (NYSE:DVN - Get Free Report) last issued its quarterly earnings results on Tuesday, February 18th. The energy company reported $1.16 EPS for the quarter, beating analysts' consensus estimates of $1.00 by $0.16. The company had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.25 billion. Devon Energy had a return on equity of 22.52% and a net margin of 18.14%. Research analysts predict that Devon Energy Co. will post 4.85 earnings per share for the current fiscal year.

Devon Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were given a $0.24 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.17%. This is an increase from Devon Energy's previous quarterly dividend of $0.22. Devon Energy's payout ratio is currently 21.05%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on DVN. Wells Fargo & Company lowered their price objective on shares of Devon Energy from $46.00 to $44.00 and set an "overweight" rating on the stock in a research note on Monday, April 14th. UBS Group cut their target price on Devon Energy from $41.00 to $35.00 and set a "neutral" rating for the company in a research report on Monday, April 7th. Mizuho decreased their price objective on shares of Devon Energy from $49.00 to $46.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. Susquehanna lifted their target price on shares of Devon Energy from $50.00 to $52.00 and gave the company a "positive" rating in a research note on Thursday, February 20th. Finally, Raymond James reduced their target price on Devon Energy from $54.00 to $46.00 and set an "outperform" rating on the stock in a report on Monday, March 10th. Ten equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $46.71.

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.