Proficio Capital Partners LLC Makes New $4.41 Million Investment in Devon Energy Co. (NYSE:DVN)

Proficio Capital Partners LLC bought a new stake in shares of Devon Energy Co. (NYSE:DVN - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 134,782 shares of the energy company's stock, valued at approximately $4,411,000.

Several other large investors have also recently modified their holdings of the stock. True Wealth Design LLC raised its position in Devon Energy by 3,889.3% in the 3rd quarter. True Wealth Design LLC now owns 1,117 shares of the energy company's stock worth $44,000 after buying an additional 1,089 shares during the last quarter. Cromwell Holdings LLC raised its position in Devon Energy by 98.0% in the 4th quarter. Cromwell Holdings LLC now owns 1,208 shares of the energy company's stock worth $40,000 after buying an additional 598 shares during the last quarter. Activest Wealth Management grew its stake in shares of Devon Energy by 60.4% during the 3rd quarter. Activest Wealth Management now owns 1,275 shares of the energy company's stock valued at $50,000 after purchasing an additional 480 shares during the period. Sierra Ocean LLC bought a new stake in shares of Devon Energy during the 4th quarter valued at about $43,000. Finally, Endeavor Private Wealth Inc. bought a new stake in shares of Devon Energy during the 4th quarter valued at about $52,000. Hedge funds and other institutional investors own 69.72% of the company's stock.

Devon Energy Trading Up 0.1 %

NYSE:DVN traded up $0.05 during midday trading on Friday, hitting $36.18. 12,057,499 shares of the company traded hands, compared to its average volume of 7,841,023. The firm's fifty day moving average is $35.46 and its 200-day moving average is $37.12. Devon Energy Co. has a 12-month low of $30.39 and a 12-month high of $55.09. The firm has a market capitalization of $23.48 billion, a P/E ratio of 7.93, a P/E/G ratio of 1.20 and a beta of 1.91. The company has a current ratio of 1.04, a quick ratio of 1.01 and a debt-to-equity ratio of 0.57.

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Devon Energy (NYSE:DVN - Get Free Report) last released its quarterly earnings results on Tuesday, February 18th. The energy company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.16. Devon Energy had a return on equity of 22.52% and a net margin of 18.14%. The company had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.25 billion. On average, sell-side analysts predict that Devon Energy Co. will post 4.85 EPS for the current year.

Devon Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.65%. The ex-dividend date of this dividend is Friday, March 14th. This is a positive change from Devon Energy's previous quarterly dividend of $0.22. Devon Energy's dividend payout ratio is presently 21.05%.

Analysts Set New Price Targets

A number of research firms have issued reports on DVN. Citigroup cut their price target on Devon Energy from $48.00 to $46.00 and set a "buy" rating for the company in a research note on Monday. Cowen downgraded Devon Energy to a "hold" rating and cut their price objective for the company from $46.00 to $45.00 in a research note on Tuesday, February 18th. Barclays boosted their price objective on Devon Energy from $43.00 to $44.00 and gave the company an "equal weight" rating in a research note on Thursday, February 20th. JPMorgan Chase & Co. cut their price objective on Devon Energy from $48.00 to $42.00 and set a "neutral" rating for the company in a research note on Thursday, March 13th. Finally, Raymond James cut their price objective on Devon Energy from $54.00 to $46.00 and set an "outperform" rating for the company in a research note on Monday, March 10th. Ten investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $48.46.

Devon Energy Company 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.