Devon Energy Co. (NYSE:DVN) Stake Boosted by Catalyst Financial Partners LLC

Catalyst Financial Partners LLC boosted its holdings in Devon Energy Co. (NYSE:DVN) by 15.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,861 shares of the energy company’s stock after purchasing an additional 903 shares during the quarter. Catalyst Financial Partners LLC’s holdings in Devon Energy were worth $268,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of DVN. Vanguard Group Inc. grew its position in shares of Devon Energy by 3.5% during the first quarter. Vanguard Group Inc. now owns 76,457,056 shares of the energy company’s stock worth $3,836,615,000 after acquiring an additional 2,559,039 shares during the last quarter. International Assets Investment Management LLC grew its position in Devon Energy by 4,125.7% in the 3rd quarter. International Assets Investment Management LLC now owns 2,280,961 shares of the energy company’s stock worth $89,231,000 after purchasing an additional 2,226,983 shares during the last quarter. Pacer Advisors Inc. increased its stake in shares of Devon Energy by 16.8% in the second quarter. Pacer Advisors Inc. now owns 9,913,516 shares of the energy company’s stock valued at $469,901,000 after purchasing an additional 1,428,776 shares during the period. Los Angeles Capital Management LLC raised its holdings in shares of Devon Energy by 7,165.6% during the second quarter. Los Angeles Capital Management LLC now owns 1,376,253 shares of the energy company’s stock valued at $65,234,000 after buying an additional 1,357,311 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Devon Energy by 16.7% during the second quarter. Dimensional Fund Advisors LP now owns 8,793,217 shares of the energy company’s stock worth $416,779,000 after buying an additional 1,255,543 shares during the period. Institutional investors own 69.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on DVN. JPMorgan Chase & Co. cut their target price on Devon Energy from $64.00 to $51.00 and set an “overweight” rating on the stock in a research note on Thursday, September 12th. Sanford C. Bernstein dropped their price objective on Devon Energy from $48.00 to $43.00 and set a “market perform” rating on the stock in a research note on Wednesday, July 17th. Barclays decreased their target price on Devon Energy from $55.00 to $46.00 and set an “equal weight” rating for the company in a research note on Thursday, October 3rd. Royal Bank of Canada reiterated a “sector perform” rating and issued a $57.00 price target on shares of Devon Energy in a research report on Tuesday, September 3rd. Finally, Benchmark restated a “hold” rating on shares of Devon Energy in a research report on Tuesday, October 15th. Nine investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $52.53.

Devon Energy Stock Performance

Shares of DVN opened at $38.69 on Friday. Devon Energy Co. has a 52 week low of $37.76 and a 52 week high of $55.09. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.03 and a current ratio of 1.11. The company has a market capitalization of $24.23 billion, a PE ratio of 7.02, a PEG ratio of 1.22 and a beta of 2.02. The company’s 50 day moving average price is $41.26 and its 200 day moving average price is $45.48.

Devon Energy (NYSE:DVN) last posted its quarterly earnings results on Tuesday, August 6th. The energy company reported $1.41 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.15. Devon Energy had a net margin of 22.60% and a return on equity of 29.14%. The business had revenue of $3.92 billion for the quarter, compared to the consensus estimate of $3.90 billion. During the same period in the prior year, the business posted $1.18 earnings per share. Devon Energy’s revenue for the quarter was up 13.4% compared to the same quarter last year. Research analysts expect that Devon Energy Co. will post 4.98 EPS for the current fiscal year.

Devon Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were paid a $0.22 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.88 annualized dividend and a dividend yield of 2.27%. Devon Energy’s payout ratio is 15.97%.

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.