CreativeOne Wealth LLC Raises Position in Devon Energy Co. (NYSE:DVN)

CreativeOne Wealth LLC lifted its holdings in shares of Devon Energy Co. (NYSE:DVN - Free Report) by 40.0% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 31,055 shares of the energy company's stock after acquiring an additional 8,879 shares during the period. CreativeOne Wealth LLC's holdings in Devon Energy were worth $1,016,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of DVN. Redwood Wealth Management Group LLC raised its holdings in shares of Devon Energy by 3.9% in the fourth 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 lifted its position in Devon Energy by 1.6% during the 4th quarter. Cornerstone Wealth Management LLC now owns 21,242 shares of the energy company's stock worth $695,000 after acquiring an additional 326 shares during the period. Annex Advisory Services LLC increased its holdings in shares of Devon Energy by 1.2% in the fourth quarter. Annex Advisory Services LLC now owns 27,021 shares of the energy company's stock valued at $884,000 after purchasing an additional 327 shares during the period. Independence Bank of Kentucky raised its stake in shares of Devon Energy by 7.8% in the fourth quarter. Independence Bank of Kentucky now owns 4,580 shares of the energy company's stock worth $150,000 after purchasing an additional 330 shares during the last quarter. Finally, Covestor Ltd boosted its position in Devon Energy by 15.9% in the fourth quarter. Covestor Ltd now owns 2,521 shares of the energy company's stock valued at $83,000 after buying an additional 345 shares during the last quarter. Institutional investors and hedge funds own 69.72% of the company's stock.

Devon Energy Trading Up 3.4 %

DVN traded up $0.99 on Friday, hitting $30.29. The company had a trading volume of 10,348,261 shares, compared to its average volume of 8,456,363. The company has a current ratio of 1.04, a quick ratio of 1.01 and a debt-to-equity ratio of 0.57. The firm has a market cap of $19.66 billion, a P/E ratio of 6.64, a PEG ratio of 1.20 and a beta of 1.50. The company's fifty day moving average price is $33.92 and its 200 day moving average price is $35.83. Devon Energy Co. has a 1 year low of $25.89 and a 1 year high of $53.20.

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

Devon Energy Increases Dividend

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

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Cowen downgraded Devon Energy to a "hold" rating and decreased their price target for the company from $46.00 to $45.00 in a report on Tuesday, February 18th. Susquehanna upped their target price on Devon Energy from $50.00 to $52.00 and gave the stock a "positive" rating in a research note on Thursday, February 20th. Sanford C. Bernstein raised shares of Devon Energy from a "market perform" rating to an "outperform" rating and set a $45.00 price target on the stock in a research note on Wednesday, January 15th. Morgan Stanley set a $47.00 price objective on shares of Devon Energy and gave the company an "overweight" rating in a report on Wednesday, March 26th. Finally, Wolfe Research upgraded shares of Devon Energy from a "peer perform" rating to an "outperform" rating and set a $45.00 target price on the stock in a research report on Friday, January 3rd. Ten research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $46.71.

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.