KMG Fiduciary Partners LLC increased its position in shares of Devon Energy Co. (NYSE:DVN - Free Report) by 164.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 94,986 shares of the energy company's stock after purchasing an additional 59,086 shares during the period. KMG Fiduciary Partners LLC's holdings in Devon Energy were worth $3,109,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of the company. William B. Walkup & Associates Inc. purchased a new stake in shares of Devon Energy during the 2nd quarter worth approximately $1,026,000. Legacy Investment Solutions LLC acquired a new position in Devon Energy in the third quarter valued at $8,002,000. Bridgewater Associates LP purchased a new position in shares of Devon Energy during the third quarter worth about $9,426,000. Petrus Trust Company LTA increased its position in shares of Devon Energy by 394.7% during the third quarter. Petrus Trust Company LTA now owns 21,827 shares of the energy company's stock worth $854,000 after purchasing an additional 17,415 shares in the last quarter. Finally, CIBC Asset Management Inc lifted its holdings in shares of Devon Energy by 6.3% in the 3rd quarter. CIBC Asset Management Inc now owns 107,182 shares of the energy company's stock valued at $4,193,000 after purchasing an additional 6,358 shares during the last quarter. Institutional investors and hedge funds own 69.72% of the company's stock.
Devon Energy Price Performance
Shares of Devon Energy stock traded down $0.41 on Friday, hitting $38.01. The company's stock had a trading volume of 6,112,483 shares, compared to its average volume of 10,811,976. The company has a quick ratio of 1.01, a current ratio of 1.11 and a debt-to-equity ratio of 0.61. The firm has a fifty day moving average price of $35.50 and a 200-day moving average price of $40.39. Devon Energy Co. has a 52-week low of $30.39 and a 52-week high of $55.09. The company has a market capitalization of $24.97 billion, a P/E ratio of 7.06, a price-to-earnings-growth ratio of 1.14 and a beta of 2.00.
Devon Energy (NYSE:DVN - Get Free Report) last released its quarterly 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. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%. The business had revenue of $4.02 billion for the quarter, compared to analyst estimates of $3.72 billion. During the same period in the prior year, the business earned $1.65 earnings per share. The company's quarterly revenue was up 4.9% on a year-over-year basis. On average, equities research analysts expect that Devon Energy Co. will post 4.72 earnings per share for the current fiscal year.
Devon Energy Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Friday, December 13th were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.32%. The ex-dividend date was Friday, December 13th. Devon Energy's payout ratio is 16.33%.
Wall Street Analysts Forecast Growth
A number of equities research analysts have weighed in on DVN shares. Mizuho reduced their price objective on Devon Energy from $51.00 to $47.00 and set an "outperform" rating for the company in a research note on Monday, December 16th. StockNews.com raised Devon Energy from a "sell" rating to a "hold" rating in a research note on Friday, January 3rd. Wells Fargo & Company lowered their target price on Devon Energy from $49.00 to $43.00 and set an "overweight" rating on the stock in a research note on Tuesday, December 17th. Scotiabank cut their price target on Devon Energy from $60.00 to $48.00 and set a "sector outperform" rating for the company in a research note on Thursday, October 10th. Finally, Barclays lowered their price objective on shares of Devon Energy from $55.00 to $46.00 and set an "equal weight" rating on the stock in a research report on Thursday, October 3rd. Nine research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $49.27.
View Our Latest Report on DVN
Devon Energy Company Profile
(
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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