10,753 Shares in Devon Energy Co. (NYSE:DVN) Bought by Sagespring Wealth Partners LLC

Sagespring Wealth Partners LLC bought a new position in Devon Energy Co. (NYSE:DVN - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 10,753 shares of the energy company's stock, valued at approximately $352,000.

Several other hedge funds and other institutional investors have also made changes to their positions in DVN. Redwood Wealth Management Group LLC grew its position in Devon Energy by 3.9% during the fourth quarter. Redwood Wealth Management Group LLC now owns 8,141 shares of the energy company's stock worth $266,000 after buying an additional 309 shares during the period. Cornerstone Wealth Management LLC raised its holdings in Devon Energy by 1.6% during the fourth quarter. Cornerstone Wealth Management LLC now owns 21,242 shares of the energy company's stock worth $695,000 after purchasing an additional 326 shares during the last quarter. Annex Advisory Services LLC grew its holdings in Devon Energy by 1.2% in the fourth quarter. Annex Advisory Services LLC now owns 27,021 shares of the energy company's stock valued at $884,000 after purchasing an additional 327 shares during the last quarter. Independence Bank of Kentucky increased its position in shares of Devon Energy by 7.8% in the fourth quarter. Independence Bank of Kentucky now owns 4,580 shares of the energy company's stock valued at $150,000 after buying an additional 330 shares in the last quarter. Finally, Covestor Ltd boosted its position in shares of Devon Energy by 15.9% in the 4th quarter. Covestor Ltd now owns 2,521 shares of the energy company's stock worth $83,000 after buying an additional 345 shares in the last quarter. Hedge funds and other institutional investors own 69.72% of the company's stock.

Devon Energy Trading Up 3.4 %

NYSE DVN traded up $0.99 during mid-day trading on Friday, hitting $30.29. The company's stock had a trading volume of 10,348,261 shares, compared to its average volume of 8,456,363. The firm has a market capitalization of $19.66 billion, a P/E ratio of 6.64, a price-to-earnings-growth ratio of 1.20 and a beta of 1.50. 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 $25.89 and a 52-week high of $53.20. The stock's fifty day simple moving average is $33.92 and its two-hundred day simple moving average is $35.83.

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, beating analysts' consensus estimates of $1.00 by $0.16. Devon Energy had a net margin of 18.14% and a return on equity of 22.52%. The business had revenue of $4.40 billion for the quarter, compared to the consensus estimate of $4.25 billion. Research analysts expect that Devon Energy Co. will post 4.85 EPS for the current year.

Devon Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date was Friday, March 14th. This is a boost from Devon Energy's previous quarterly dividend of $0.22. Devon Energy's payout ratio is currently 21.05%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on DVN. Mizuho reduced their price target on shares of Devon Energy from $49.00 to $46.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. Susquehanna boosted their price target on Devon Energy from $50.00 to $52.00 and gave the stock a "positive" rating in a report on Thursday, February 20th. Raymond James reduced their price objective on Devon Energy from $54.00 to $46.00 and set an "outperform" rating on the stock in a research report on Monday, March 10th. Barclays lifted their price objective on Devon Energy from $43.00 to $44.00 and gave the stock an "equal weight" rating in a research report on Thursday, February 20th. Finally, Sanford C. Bernstein upgraded shares of Devon Energy from a "market perform" rating to an "outperform" rating and set a $45.00 target price on the stock in a report on Wednesday, January 15th. Ten investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $46.71.

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.