18,328 Shares in Devon Energy Co. (NYSE:DVN) Acquired by Philip James Wealth Mangement LLC

Philip James Wealth Mangement LLC bought a new position in shares of Devon Energy Co. (NYSE:DVN) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 18,328 shares of the energy company’s stock, valued at approximately $717,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Triad Wealth Partners LLC acquired a new position in Devon Energy in the 2nd quarter worth approximately $27,000. 1620 Investment Advisors Inc. acquired a new stake in shares of Devon Energy during the 2nd quarter valued at $34,000. PSI Advisors LLC boosted its stake in shares of Devon Energy by 66.7% during the 2nd quarter. PSI Advisors LLC now owns 750 shares of the energy company’s stock valued at $36,000 after buying an additional 300 shares during the period. LRI Investments LLC acquired a new stake in shares of Devon Energy during the 1st quarter valued at $39,000. Finally, Future Financial Wealth Managment LLC acquired a new stake in shares of Devon Energy during the 3rd quarter valued at $39,000. Institutional investors and hedge funds own 69.72% of the company’s stock.

Devon Energy Stock Performance

NYSE DVN traded up $0.01 during midday trading on Friday, hitting $38.90. The company had a trading volume of 987,390 shares, compared to its average volume of 7,397,836. The company has a quick ratio of 1.03, a current ratio of 1.11 and a debt-to-equity ratio of 0.45. The stock has a market cap of $24.36 billion, a price-to-earnings ratio of 7.06, a P/E/G ratio of 1.20 and a beta of 2.03. The firm has a fifty day simple moving average of $40.60 and a two-hundred day simple moving average of $44.99. Devon Energy Co. has a fifty-two week low of $37.76 and a fifty-two week high of $55.09.

Devon Energy (NYSE:DVN) last posted its quarterly earnings results on Tuesday, November 5th. The energy company reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $0.01. The company had revenue of $4.02 billion for the quarter, compared to analyst estimates of $3.72 billion. Devon Energy had a net margin of 22.60% and a return on equity of 29.14%. The business’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period last year, the business posted $1.65 EPS. Equities analysts forecast that Devon Energy Co. will post 4.93 earnings per share for the current fiscal year.

Devon Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.88 annualized dividend and a dividend yield of 2.26%. Devon Energy’s dividend payout ratio (DPR) is currently 15.97%.

Wall Street Analyst Weigh In

DVN has been the topic of a number of recent research reports. UBS Group cut their price target on shares of Devon Energy from $53.00 to $47.00 and set a “neutral” rating on the stock in a report on Wednesday, September 18th. Susquehanna cut their price target on shares of Devon Energy from $63.00 to $62.00 and set a “positive” rating on the stock in a report on Friday, October 18th. Royal Bank of Canada restated a “sector perform” rating and set a $57.00 price target on shares of Devon Energy in a report on Tuesday, September 3rd. Benchmark restated a “hold” rating on shares of Devon Energy in a report on Tuesday, October 15th. Finally, Jefferies Financial Group started coverage on shares of Devon Energy in a report on Thursday, October 3rd. They set a “hold” rating and a $45.00 price target on the stock. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $51.80.

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.