Moloney Securities Asset Management LLC Makes New Investment in Devon Energy Co. (NYSE:DVN)

Moloney Securities Asset Management LLC purchased a new position in Devon Energy Co. (NYSE:DVN - Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 27,022 shares of the energy company's stock, valued at approximately $1,057,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Triad Wealth Partners LLC purchased a new stake in Devon Energy in the second quarter worth $27,000. 1620 Investment Advisors Inc. purchased a new stake in Devon Energy in the 2nd quarter valued at $34,000. PSI Advisors LLC increased its holdings in Devon Energy by 66.7% in the 2nd quarter. PSI Advisors LLC now owns 750 shares of the energy company's stock valued at $36,000 after purchasing an additional 300 shares during the last quarter. LRI Investments LLC acquired a new stake in Devon Energy in the first quarter valued at approximately $39,000. Finally, Manchester Capital Management LLC raised its holdings in Devon Energy by 40.9% during the first quarter. Manchester Capital Management LLC now owns 861 shares of the energy company's stock worth $43,000 after purchasing an additional 250 shares in the last quarter. 69.72% of the stock is owned by institutional investors.

Devon Energy Trading Up 1.7 %

NYSE:DVN traded up $0.67 during mid-day trading on Wednesday, reaching $40.01. 17,779,062 shares of the company's stock traded hands, compared to its average volume of 7,402,570. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.11 and a quick ratio of 1.03. The company has a 50 day moving average price of $40.81 and a 200-day moving average price of $45.06. The firm has a market capitalization of $25.05 billion, a price-to-earnings ratio of 7.14, a PEG ratio of 1.18 and a beta of 2.03. 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 posted its quarterly earnings data on Tuesday, November 5th. The energy company reported $1.10 earnings per share for the quarter, beating analysts' consensus estimates of $1.09 by $0.01. Devon Energy had a return on equity of 29.14% and a net margin of 22.60%. The company had revenue of $4.02 billion during the quarter, compared to analyst estimates of $3.72 billion. During the same quarter last year, the company earned $1.65 EPS. The firm's revenue for the quarter was up 4.9% on a year-over-year basis. On average, sell-side analysts predict that Devon Energy Co. will post 4.93 earnings per share for the current year.

Devon Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.20%. The ex-dividend date of this dividend is Friday, December 13th. Devon Energy's dividend payout ratio is presently 15.97%.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Raymond James reduced their price objective on shares of Devon Energy from $58.00 to $51.00 in a research note on Tuesday. StockNews.com lowered shares of Devon Energy from a "buy" rating to a "hold" rating in a research note on Monday, September 2nd. Benchmark reissued a "hold" rating on shares of Devon Energy in a report on Tuesday, October 15th. Sanford C. Bernstein cut their price objective on shares of Devon Energy from $48.00 to $43.00 and set a "market perform" rating on the stock in a research note on Wednesday, July 17th. Finally, Wolfe Research initiated coverage on Devon Energy in a research report on Thursday, July 18th. They set a "peer perform" rating for the company. Ten analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $52.15.

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.