Avantax Advisory Services Inc. Boosts Stock Holdings in Devon Energy Co. (NYSE:DVN)

Avantax Advisory Services Inc. increased its holdings in Devon Energy Co. (NYSE:DVN - Free Report) by 13.0% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 75,848 shares of the energy company's stock after buying an additional 8,733 shares during the quarter. Avantax Advisory Services Inc.'s holdings in Devon Energy were worth $2,482,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Sfmg LLC lifted its position in Devon Energy by 0.5% during the third quarter. Sfmg LLC now owns 64,871 shares of the energy company's stock valued at $2,538,000 after purchasing an additional 294 shares during the period. Redwood Wealth Management Group LLC boosted its stake in shares of Devon Energy by 3.9% in the 4th quarter. Redwood Wealth Management Group LLC now owns 8,141 shares of the energy company's stock worth $266,000 after buying an additional 309 shares during the last quarter. Cornerstone Wealth Management LLC boosted its stake in shares of Devon Energy by 1.6% in the 4th quarter. Cornerstone Wealth Management LLC now owns 21,242 shares of the energy company's stock worth $695,000 after buying an additional 326 shares during the last quarter. Annex Advisory Services LLC increased its position in Devon Energy by 1.2% during the fourth quarter. Annex Advisory Services LLC now owns 27,021 shares of the energy company's stock valued at $884,000 after acquiring an additional 327 shares during the last quarter. Finally, Fiduciary Trust Co lifted its holdings in Devon Energy by 3.1% in the third quarter. Fiduciary Trust Co now owns 11,074 shares of the energy company's stock valued at $433,000 after acquiring an additional 329 shares during the period. Hedge funds and other institutional investors own 69.72% of the company's stock.

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Wall Street Analyst Weigh In

Several research firms have recently commented on DVN. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $50.00 price target on shares of Devon Energy in a research report on Friday, January 10th. Mizuho dropped their price target 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. Benchmark restated a "buy" rating and issued a $44.00 price objective on shares of Devon Energy in a research note on Thursday, February 20th. JPMorgan Chase & Co. cut their price target on Devon Energy from $48.00 to $42.00 and set a "neutral" rating for the company in a report on Thursday, March 13th. Finally, Wolfe Research raised Devon Energy from a "peer perform" rating to an "outperform" rating and set a $45.00 price objective on the stock in a research note on Friday, January 3rd. Ten research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, Devon Energy has a consensus rating of "Moderate Buy" and a consensus target price of $48.46.

Devon Energy Trading Up 0.3 %

DVN traded up $0.09 on Thursday, hitting $36.14. The company had a trading volume of 6,870,934 shares, compared to its average volume of 9,724,006. The business's fifty day simple moving average is $35.44 and its 200 day simple moving average is $37.13. The company has a quick ratio of 1.01, a current ratio of 1.04 and a debt-to-equity ratio of 0.57. Devon Energy Co. has a 12-month low of $30.39 and a 12-month high of $55.09. The company has a market cap of $23.46 billion, a PE ratio of 7.93, a PEG ratio of 1.20 and a beta of 1.91.

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

Devon Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.66%. This is an increase from Devon Energy's previous quarterly dividend of $0.22. The ex-dividend date is Friday, March 14th. Devon Energy's dividend payout ratio is presently 21.05%.

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.