Empowered Funds LLC Purchases 246,059 Shares of Devon Energy Co. (NYSE:DVN)

Empowered Funds LLC increased its stake in Devon Energy Co. (NYSE:DVN - Free Report) by 52.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 710,952 shares of the energy company's stock after purchasing an additional 246,059 shares during the quarter. Devon Energy comprises about 0.4% of Empowered Funds LLC's portfolio, making the stock its 27th biggest holding. Empowered Funds LLC owned 0.11% of Devon Energy worth $27,812,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Triad Wealth Partners LLC bought a new position in shares of Devon Energy in the second quarter valued at approximately $27,000. 1620 Investment Advisors Inc. acquired a new position in shares of Devon Energy during the 2nd quarter valued at $34,000. Capital Performance Advisors LLP bought a new stake in shares of Devon Energy in the 3rd quarter worth $35,000. PSI Advisors LLC lifted its holdings in shares of Devon Energy by 66.7% in the second quarter. PSI Advisors LLC now owns 750 shares of the energy company's stock valued at $36,000 after buying an additional 300 shares during the period. Finally, LRI Investments LLC bought a new position in Devon Energy during the first quarter valued at about $39,000. Institutional investors own 69.72% of the company's stock.

Devon Energy Stock Down 2.3 %

Shares of Devon Energy stock traded down $0.92 during trading on Friday, hitting $38.46. 6,721,341 shares of the stock traded hands, compared to its average volume of 7,432,099. The stock has a market cap of $25.26 billion, a P/E ratio of 7.24, a PEG ratio of 1.22 and a beta of 2.03. The company has a fifty day moving average price of $40.15 and a two-hundred day moving average price of $44.52. Devon Energy Co. has a twelve month low of $37.76 and a twelve month high of $55.09. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.11.

Devon Energy (NYSE:DVN - Get Free Report) last posted its earnings results on Tuesday, November 5th. The energy company reported $1.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.09 by $0.01. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%. The firm had revenue of $4.02 billion during the quarter, compared to analysts' expectations of $3.72 billion. During the same period in the previous year, the company earned $1.65 earnings per share. The company's revenue was up 4.9% compared to the same quarter last year. Equities research analysts predict that Devon Energy Co. will post 4.84 EPS for the current fiscal year.

Devon Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be given a $0.22 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.29%. Devon Energy's dividend payout ratio is currently 16.33%.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. StockNews.com cut shares of Devon Energy from a "hold" rating to a "sell" rating in a research report on Thursday, November 7th. UBS Group dropped their target price on shares of Devon Energy from $53.00 to $47.00 and set a "neutral" rating on the stock in a report on Wednesday, September 18th. Susquehanna reduced their target price on shares of Devon Energy from $63.00 to $62.00 and set a "positive" rating for the company in a report on Friday, October 18th. TD Cowen dropped their price target on Devon Energy from $54.00 to $46.00 and set a "hold" rating on the stock in a report on Tuesday, November 5th. Finally, Mizuho reduced their price objective on Devon Energy from $53.00 to $51.00 and set an "outperform" rating for the company in a research note on Wednesday, October 9th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, Devon Energy presently has an average rating of "Hold" and a consensus target price of $51.80.

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.