Woodard & Co. Asset Management Group Inc. ADV Buys Shares of 45,434 Devon Energy Co. (NYSE:DVN)

Woodard & Co. Asset Management Group Inc. ADV bought a new stake in Devon Energy Co. (NYSE:DVN - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 45,434 shares of the energy company's stock, valued at approximately $1,487,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP acquired a new position in Devon Energy in the 3rd quarter valued at about $35,000. Sierra Ocean LLC purchased a new position in shares of Devon Energy during the 4th quarter worth about $43,000. True Wealth Design LLC lifted its holdings in shares of Devon Energy by 3,889.3% during the 3rd quarter. True Wealth Design LLC now owns 1,117 shares of the energy company's stock worth $44,000 after acquiring an additional 1,089 shares during the period. Hazlett Burt & Watson Inc. lifted its holdings in shares of Devon Energy by 29.8% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 1,263 shares of the energy company's stock worth $49,000 after acquiring an additional 290 shares during the period. Finally, Activest Wealth Management lifted its holdings 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 worth $50,000 after acquiring an additional 480 shares during the period. Institutional investors and hedge funds own 69.72% of the company's stock.

Devon Energy Stock Performance

DVN traded up $1.03 during trading hours on Thursday, hitting $38.60. 11,377,043 shares of the stock were exchanged, compared to its average volume of 9,743,851. The stock has a 50-day simple moving average of $34.40 and a 200-day simple moving average of $38.40. Devon Energy Co. has a 12 month low of $30.39 and a 12 month high of $55.09. The stock has a market cap of $25.35 billion, a price-to-earnings ratio of 8.46, a price-to-earnings-growth ratio of 1.09 and a beta of 1.98. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.11 and a quick ratio of 1.01.

Devon Energy (NYSE:DVN - Get Free Report) last announced its quarterly earnings data on Tuesday, February 18th. The energy company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.16. The firm had revenue of $4.40 billion for the quarter, compared to analysts' expectations of $4.25 billion. Devon Energy had a return on equity of 23.17% and a net margin of 18.14%. Analysts anticipate that Devon Energy Co. will post 4.85 earnings per share for the current year.

Devon Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 2.49%. 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 presently 19.30%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on DVN. Sanford C. Bernstein upgraded shares of Devon Energy from a "market perform" rating to an "outperform" rating and set a $45.00 price objective on the stock in a report on Wednesday, January 15th. Wolfe Research upgraded shares of Devon Energy from a "peer perform" rating to an "outperform" rating and set a $45.00 price objective on the stock in a report on Friday, January 3rd. Cowen lowered shares of Devon Energy to a "hold" rating and cut their price objective for the stock from $46.00 to $45.00 in a report on Tuesday. JPMorgan Chase & Co. lowered shares of Devon Energy from an "overweight" rating to a "neutral" rating and set a $43.00 price target on the stock. in a report on Thursday, December 5th. Finally, Raymond James raised their price target on shares of Devon Energy from $53.00 to $54.00 and gave the company an "outperform" rating in a report on Thursday, January 23rd. Ten investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, Devon Energy currently has a consensus rating of "Moderate Buy" and a consensus target price of $48.83.

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.