Caprock Group LLC boosted its holdings in Devon Energy Co. (NYSE:DVN - Free Report) by 114.6% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 50,585 shares of the energy company's stock after acquiring an additional 27,012 shares during the quarter. Caprock Group LLC's holdings in Devon Energy were worth $1,979,000 as of its most recent filing with the SEC.
Several other large investors have also recently bought and sold shares of the business. Annex Advisory Services LLC grew its holdings in Devon Energy by 0.8% in the second quarter. Annex Advisory Services LLC now owns 27,651 shares of the energy company's stock valued at $1,311,000 after purchasing an additional 223 shares during the last quarter. Versant Capital Management Inc grew its holdings in Devon Energy by 30.4% in the second quarter. Versant Capital Management Inc now owns 970 shares of the energy company's stock valued at $46,000 after purchasing an additional 226 shares during the last quarter. Archer Investment Corp grew its holdings in Devon Energy by 2.8% in the second quarter. Archer Investment Corp now owns 8,535 shares of the energy company's stock valued at $405,000 after purchasing an additional 235 shares during the last quarter. Citizens Financial Group Inc. RI boosted its stake in shares of Devon Energy by 2.6% during the first quarter. Citizens Financial Group Inc. RI now owns 9,480 shares of the energy company's stock valued at $476,000 after acquiring an additional 236 shares during the last quarter. Finally, Institute for Wealth Management LLC. boosted its stake in shares of Devon Energy by 4.0% during the second quarter. Institute for Wealth Management LLC. now owns 6,234 shares of the energy company's stock valued at $296,000 after acquiring an additional 237 shares during the last quarter. Hedge funds and other institutional investors own 69.72% of the company's stock.
Devon Energy Stock Performance
Devon Energy stock opened at $38.30 on Thursday. The stock's 50-day moving average is $39.96 and its 200-day moving average is $44.11. The company has a market cap of $25.16 billion, a price-to-earnings ratio of 7.11, a price-to-earnings-growth ratio of 1.20 and a beta of 2.03. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.11 and a quick ratio of 1.01. Devon Energy Co. has a 12 month low of $37.76 and a 12 month high of $55.09.
Devon Energy (NYSE:DVN - Get Free Report) last announced its earnings results on Tuesday, November 5th. The energy company reported $1.10 EPS for the quarter, beating the consensus estimate of $1.09 by $0.01. The business had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $3.72 billion. Devon Energy had a return on equity of 24.73% and a net margin of 21.71%. The company's revenue was up 4.9% on a year-over-year basis. During the same period last year, the business posted $1.65 EPS. Equities analysts anticipate that Devon Energy Co. will post 4.81 earnings per share for the current year.
Devon Energy Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be paid a dividend of $0.22 per share. The ex-dividend date is Friday, December 13th. This represents a $0.88 dividend on an annualized basis and a yield of 2.30%. Devon Energy's dividend payout ratio (DPR) is presently 16.33%.
Wall Street Analyst Weigh In
A number of analysts recently commented on DVN shares. Jefferies Financial Group started coverage on Devon Energy in a research note on Thursday, October 3rd. They set a "hold" rating and a $45.00 price objective on the stock. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $57.00 price objective on shares of Devon Energy in a research note on Tuesday, September 3rd. Evercore ISI decreased their price objective on Devon Energy from $55.00 to $50.00 and set an "in-line" rating on the stock in a research note on Monday, September 30th. Scotiabank decreased their price objective on Devon Energy from $60.00 to $48.00 and set a "sector outperform" rating on the stock in a research note on Thursday, October 10th. Finally, JPMorgan Chase & Co. reduced their target price on Devon Energy from $64.00 to $51.00 and set an "overweight" rating on the stock in a research report on Thursday, September 12th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $51.85.
Check Out Our Latest Analysis on DVN
About Devon Energy
(
Free Report)
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.
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