Lebenthal Global Advisors LLC Increases Position in Devon Energy Co. (NYSE:DVN)

Lebenthal Global Advisors LLC boosted its position in Devon Energy Co. (NYSE:DVN) by 47.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,883 shares of the energy company’s stock after acquiring an additional 7,407 shares during the quarter. Lebenthal Global Advisors LLC’s holdings in Devon Energy were worth $749,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Capital Performance Advisors LLP purchased a new position in shares of Devon Energy during the 3rd quarter valued at about $35,000. Future Financial Wealth Managment LLC purchased a new position in shares of Devon Energy during the third quarter worth approximately $39,000. True Wealth Design LLC lifted its holdings in shares of Devon Energy by 3,889.3% in 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 last quarter. Hazlett Burt & Watson Inc. boosted its stake in shares of Devon Energy by 29.8% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 1,263 shares of the energy company’s stock valued at $49,000 after purchasing an additional 290 shares in the last quarter. Finally, Activest Wealth Management grew 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 valued at $50,000 after purchasing an additional 480 shares during the last quarter. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on DVN shares. Evercore ISI lowered their price target on shares of Devon Energy from $55.00 to $50.00 and set an “in-line” rating for the company in a research note on Monday, September 30th. Benchmark upgraded Devon Energy from a “hold” rating to a “buy” rating and set a $44.00 target price for the company in a report on Tuesday, January 14th. BMO Capital Markets reduced their price target on Devon Energy from $52.00 to $48.00 and set an “outperform” rating on the stock in a research report on Friday, October 4th. Jefferies Financial Group started coverage on Devon Energy in a research note on Thursday, October 3rd. They set a “hold” rating and a $45.00 price objective for the company. Finally, Susquehanna decreased their target price on shares of Devon Energy from $63.00 to $62.00 and set a “positive” rating on the stock in a research note on Friday, October 18th. Nine analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, Devon Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.41.

Devon Energy Trading Down 1.8 %

DVN opened at $35.33 on Tuesday. The stock has a market cap of $23.20 billion, a PE ratio of 6.55, a PEG ratio of 1.21 and a beta of 2.00. The business has a 50 day moving average of $35.20 and a 200-day moving average of $39.78. Devon Energy Co. has a 52 week low of $30.39 and a 52 week high of $55.09. The company has a quick ratio of 1.01, a current ratio of 1.11 and a debt-to-equity ratio of 0.61.

Devon Energy (NYSE:DVN) last announced its earnings results on Tuesday, November 5th. The energy company reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.01. The firm had revenue of $4.02 billion for the quarter, compared to analysts’ expectations of $3.72 billion. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%. The company’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.65 EPS. Equities research analysts predict that Devon Energy Co. will post 4.7 earnings per share for the current fiscal year.

Devon Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Friday, December 13th were issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date of this dividend was Friday, December 13th. Devon Energy’s dividend payout ratio (DPR) is presently 16.33%.

Devon Energy 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.