Speece Thorson Capital Group Inc. Has $12.88 Million Stake in Devon Energy Co. (NYSE:DVN)

Speece Thorson Capital Group Inc. grew its stake in Devon Energy Co. (NYSE:DVN - Free Report) by 17.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 329,123 shares of the energy company's stock after purchasing an additional 49,176 shares during the quarter. Devon Energy comprises approximately 2.4% of Speece Thorson Capital Group Inc.'s holdings, making the stock its 22nd largest holding. Speece Thorson Capital Group Inc. owned 0.05% of Devon Energy worth $12,875,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Triad Wealth Partners LLC acquired a new stake in Devon Energy during the 2nd quarter worth $27,000. 1620 Investment Advisors Inc. acquired a new stake in shares of Devon Energy in the 2nd quarter valued at about $34,000. Capital Performance Advisors LLP acquired a new stake in shares of Devon Energy in the 3rd quarter valued at about $35,000. PSI Advisors LLC raised its stake in shares of 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 period. Finally, LRI Investments LLC acquired a new stake in shares of Devon Energy in the 1st quarter valued at about $39,000. Institutional investors and hedge funds own 69.72% of the company's stock.

Devon Energy Stock Performance

Shares of NYSE:DVN traded up $0.76 during trading on Wednesday, reaching $39.10. 8,313,337 shares of the stock were exchanged, compared to its average volume of 7,445,225. Devon Energy Co. has a 12 month low of $37.76 and a 12 month high of $55.09. The firm has a market cap of $25.68 billion, a PE ratio of 7.19, a PEG ratio of 1.19 and a beta of 2.03. The stock has a 50-day moving average price of $40.27 and a 200-day moving average price of $44.59. The company has a current ratio of 1.11, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61.

Devon Energy (NYSE:DVN - Get Free Report) last issued its quarterly earnings data on Tuesday, November 5th. The energy company reported $1.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.09 by $0.01. Devon Energy had a return on equity of 24.73% and a net margin of 21.71%. The company had revenue of $4.02 billion during the quarter, compared to analysts' expectations of $3.72 billion. During the same quarter in the previous year, the company posted $1.65 earnings per share. The business's revenue was up 4.9% on a year-over-year basis. Research analysts expect that Devon Energy Co. will post 4.86 EPS for the current fiscal 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 given a $0.22 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.25%. Devon Energy's payout ratio is 16.33%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Morgan Stanley dropped their price target on Devon Energy from $55.00 to $51.00 and set an "overweight" rating on the stock in a research note on Monday, September 16th. Benchmark reissued a "hold" rating on shares of Devon Energy in a research note on Tuesday, October 15th. Evercore ISI dropped their price target on Devon Energy from $55.00 to $50.00 and set an "in-line" rating on the stock in a research note on Monday, September 30th. Barclays decreased their price objective on Devon Energy from $55.00 to $46.00 and set an "equal weight" rating for the company in a report on Thursday, October 3rd. Finally, Jefferies Financial Group initiated coverage on Devon Energy in a report on Thursday, October 3rd. They issued a "hold" rating and a $45.00 price objective for the company. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $51.80.

About Devon Energy

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.