Philip James Wealth Mangement LLC Takes Position in Devon Energy Co. (NYSE:DVN)

Philip James Wealth Mangement LLC bought a new position in Devon Energy Co. (NYSE:DVN - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 18,328 shares of the energy company's stock, valued at approximately $717,000.

A number of other institutional investors have also recently bought and sold shares of DVN. Annex Advisory Services LLC increased its stake in Devon Energy by 0.8% during the second quarter. Annex Advisory Services LLC now owns 27,651 shares of the energy company's stock worth $1,311,000 after acquiring an additional 223 shares during the last quarter. Versant Capital Management Inc lifted its position in Devon Energy by 30.4% during the second quarter. Versant Capital Management Inc now owns 970 shares of the energy company's stock valued at $46,000 after buying an additional 226 shares in the last quarter. Archer Investment Corp grew its stake in Devon Energy by 2.8% during the second quarter. Archer Investment Corp now owns 8,535 shares of the energy company's stock worth $405,000 after buying an additional 235 shares during the period. Citizens Financial Group Inc. RI increased its position in shares of Devon Energy by 2.6% in the first quarter. Citizens Financial Group Inc. RI now owns 9,480 shares of the energy company's stock worth $476,000 after acquiring an additional 236 shares in the last quarter. Finally, Institute for Wealth Management LLC. increased its position in shares of Devon Energy by 4.0% in the second quarter. Institute for Wealth Management LLC. now owns 6,234 shares of the energy company's stock worth $296,000 after acquiring an additional 237 shares in the last quarter. 69.72% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on DVN. Sanford C. Bernstein decreased their price target on shares of Devon Energy from $48.00 to $43.00 and set a "market perform" rating for the company in a research report on Wednesday, July 17th. Raymond James lowered their target price on Devon Energy from $58.00 to $51.00 in a research note on Tuesday. StockNews.com lowered Devon Energy from a "hold" rating to a "sell" rating in a research report on Thursday. JPMorgan Chase & Co. lowered their price objective on shares of Devon Energy from $64.00 to $51.00 and set an "overweight" rating for the company in a research report on Thursday, September 12th. Finally, Susquehanna reduced their target price on shares of Devon Energy from $63.00 to $62.00 and set a "positive" rating on the stock in a research report on Friday, October 18th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Devon Energy currently has a consensus rating of "Moderate Buy" and an average target price of $51.80.

Devon Energy Stock Performance

Shares of Devon Energy stock traded down $0.02 during trading hours on Friday, reaching $38.87. The company's stock had a trading volume of 8,621,570 shares, compared to its average volume of 7,433,912. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.03 and a current ratio of 1.11. Devon Energy Co. has a one year low of $37.76 and a one year high of $55.09. The company's 50 day simple moving average is $40.60 and its 200 day simple moving average is $44.99. The stock has a market cap of $24.34 billion, a P/E ratio of 7.06, a price-to-earnings-growth ratio of 1.20 and a beta of 2.03.

Devon Energy (NYSE:DVN - Get Free Report) last issued its earnings results on Tuesday, November 5th. The energy company reported $1.10 EPS for the quarter, beating analysts' consensus estimates of $1.09 by $0.01. The company had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $3.72 billion. Devon Energy had a return on equity of 29.14% and a net margin of 22.60%. Devon Energy's quarterly revenue was up 4.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.65 earnings per share. As a group, analysts expect that Devon Energy Co. will post 4.93 EPS for the current fiscal year.

Devon Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date is Friday, December 13th. Devon Energy's payout ratio is 15.97%.

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.