Allworth Financial LP Has $422,000 Stake in Devon Energy Co. (NYSE:DVN)

Allworth Financial LP lifted its holdings in shares of Devon Energy Co. (NYSE:DVN - Free Report) by 112.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 12,906 shares of the energy company's stock after buying an additional 6,827 shares during the period. Allworth Financial LP's holdings in Devon Energy were worth $422,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Creative Planning lifted its holdings in shares of Devon Energy by 33.6% in the 3rd quarter. Creative Planning now owns 132,206 shares of the energy company's stock worth $5,172,000 after purchasing an additional 33,249 shares during the last quarter. Sequoia Financial Advisors LLC grew its position in shares of Devon Energy by 4.6% during the third quarter. Sequoia Financial Advisors LLC now owns 35,711 shares of the energy company's stock worth $1,397,000 after acquiring an additional 1,564 shares during the last quarter. Leo Wealth LLC bought a new stake in Devon Energy in the 3rd quarter valued at about $202,000. Private Advisor Group LLC boosted its stake in Devon Energy by 15.1% during the 3rd quarter. Private Advisor Group LLC now owns 96,216 shares of the energy company's stock valued at $3,764,000 after purchasing an additional 12,607 shares during the period. Finally, Courier Capital LLC grew its position in Devon Energy by 6.6% in the 3rd quarter. Courier Capital LLC now owns 17,305 shares of the energy company's stock worth $677,000 after purchasing an additional 1,079 shares during the last quarter. Institutional investors and hedge funds own 69.72% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Raymond James boosted their price objective on Devon Energy from $53.00 to $54.00 and gave the stock an "outperform" rating in a research report on Thursday, January 23rd. Wells Fargo & Company decreased their price target on Devon Energy from $49.00 to $43.00 and set an "overweight" rating for the company in a research note on Tuesday, December 17th. Mizuho cut their price objective on shares of Devon Energy from $51.00 to $47.00 and set an "outperform" rating on the stock in a research note on Monday, December 16th. Wolfe Research raised shares of Devon Energy from a "peer perform" rating to an "outperform" rating and set a $45.00 price objective for the company in a report on Friday, January 3rd. Finally, Citigroup lowered their target price on shares of Devon Energy from $55.00 to $48.00 and set a "buy" rating on the stock in a research note on Tuesday, November 26th. Ten equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $48.83.

Devon Energy Trading Down 2.8 %

Shares of Devon Energy stock traded down $1.07 during trading on Friday, hitting $37.49. The stock had a trading volume of 11,529,242 shares, compared to its average volume of 9,796,612. The company has a quick ratio of 1.01, a current ratio of 1.04 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $24.62 billion, a PE ratio of 8.22, a P/E/G ratio of 1.17 and a beta of 1.98. Devon Energy Co. has a 1 year low of $30.39 and a 1 year high of $55.09. The stock has a 50 day simple moving average of $34.40 and a 200 day simple moving average of $38.40.

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

Devon Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a dividend of $0.24 per share. The ex-dividend date is Friday, March 14th. This is an increase from Devon Energy's previous quarterly dividend of $0.22. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.56%. Devon Energy's dividend payout ratio (DPR) is 21.05%.

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.