134,782 Shares in Devon Energy Co. (NYSE:DVN) Acquired by Proficio Capital Partners LLC

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

Other large investors have also bought and sold shares of the company. Capital Performance Advisors LLP bought a new position in shares of Devon Energy in the third quarter valued at $35,000. Cromwell Holdings LLC lifted its stake in shares of Devon Energy by 98.0% in the fourth quarter. Cromwell Holdings LLC now owns 1,208 shares of the energy company's stock valued at $40,000 after buying an additional 598 shares in the last quarter. Sierra Ocean LLC bought a new position in shares of Devon Energy in the fourth quarter valued at $43,000. True Wealth Design LLC lifted its stake in shares of Devon Energy by 3,889.3% in the third quarter. True Wealth Design LLC now owns 1,117 shares of the energy company's stock valued at $44,000 after buying an additional 1,089 shares in the last quarter. Finally, Hazlett Burt & Watson Inc. lifted its stake in shares of Devon Energy by 29.8% in the third quarter. Hazlett Burt & Watson Inc. now owns 1,263 shares of the energy company's stock valued at $49,000 after buying an additional 290 shares in the last quarter. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on DVN. Raymond James raised their price objective on shares of Devon Energy from $53.00 to $54.00 and gave the company an "outperform" rating in a research note on Thursday, January 23rd. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $50.00 price objective on shares of Devon Energy in a research note on Friday, January 10th. Susquehanna raised their price target on shares of Devon Energy from $50.00 to $52.00 and gave the company a "positive" rating in a research report on Thursday, February 20th. Benchmark reissued a "buy" rating and set a $44.00 price target on shares of Devon Energy in a research report on Thursday, February 20th. Finally, Barclays raised their price target on shares of Devon Energy from $43.00 to $44.00 and gave the company an "equal weight" rating in a research report on Thursday, February 20th. Ten research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, Devon Energy presently has a consensus rating of "Moderate Buy" and an average target price of $48.87.

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Devon Energy Stock Performance

Shares of NYSE:DVN traded up $0.87 during trading on Friday, hitting $34.74. 10,538,173 shares of the company were exchanged, compared to its average volume of 7,836,977. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 1.01. Devon Energy Co. has a 52-week low of $30.39 and a 52-week high of $55.09. The company has a market cap of $22.54 billion, a PE ratio of 7.62, a P/E/G ratio of 1.20 and a beta of 1.91. The stock has a 50 day moving average of $35.17 and a 200 day moving average of $37.79.

Devon Energy (NYSE:DVN - Get Free Report) last issued its earnings results on Tuesday, February 18th. The energy company reported $1.16 EPS for the quarter, topping 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 business had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.25 billion. As a group, equities research analysts predict that Devon Energy Co. will post 4.85 EPS for the current year.

Devon Energy Increases Dividend

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 2.76%. This is a boost from Devon Energy's previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Friday, March 14th. Devon Energy's dividend payout ratio (DPR) is currently 21.05%.

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.