Altrius Capital Management Inc Buys Shares of 117,936 Devon Energy Co. (NYSE:DVN)

Altrius Capital Management Inc bought a new position in Devon Energy Co. (NYSE:DVN) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 117,936 shares of the energy company’s stock, valued at approximately $3,860,000.

A number of other large investors have also made changes to their positions in the company. Capital Performance Advisors LLP purchased a new position in shares of Devon Energy in the third quarter worth approximately $35,000. Cromwell Holdings LLC increased its stake in shares of Devon Energy by 98.0% in the fourth quarter. Cromwell Holdings LLC now owns 1,208 shares of the energy company’s stock worth $40,000 after purchasing an additional 598 shares in the last quarter. Sierra Ocean LLC purchased a new stake in shares of Devon Energy in the fourth quarter worth $43,000. True Wealth Design LLC raised its position 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 valued at $44,000 after purchasing an additional 1,089 shares during the period. Finally, Hazlett Burt & Watson Inc. lifted its stake 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 valued at $49,000 after buying an additional 290 shares in the last quarter. 69.72% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. TD Cowen cut their target price on Devon Energy from $54.00 to $46.00 and set a “hold” rating for the company in a research report on Tuesday, November 5th. Wells Fargo & Company dropped their target price on shares of Devon Energy from $49.00 to $43.00 and set an “overweight” rating for the company in a research report on Tuesday, December 17th. Cowen downgraded shares of Devon Energy to a “hold” rating and reduced their price target for the company from $46.00 to $45.00 in a report on Tuesday, February 18th. JPMorgan Chase & Co. cut shares of Devon Energy from an “overweight” rating to a “neutral” rating and set a $43.00 price target on the stock. in a research note on Thursday, December 5th. Finally, Citigroup cut their price objective on Devon Energy from $55.00 to $48.00 and set a “buy” rating for the company in a research report on Tuesday, November 26th. Ten investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $48.87.

Devon Energy Price Performance

Shares of DVN stock opened at $35.85 on Friday. The company has a market capitalization of $23.26 billion, a P/E ratio of 7.86, a P/E/G ratio of 1.20 and a beta of 1.98. The company’s 50-day simple moving average is $34.83 and its two-hundred day simple moving average is $38.16. Devon Energy Co. has a one year low of $30.39 and a one year high of $55.09. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 1.01.

Devon Energy (NYSE:DVN) 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. Devon Energy had a return on equity of 22.52% and a net margin of 18.14%. The company had revenue of $4.40 billion for the quarter, compared to analysts’ expectations of $4.25 billion. As a group, equities analysts anticipate that Devon Energy Co. will post 4.85 EPS for the current year.

Devon Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Friday, March 14th. This is a positive change from Devon Energy’s previous quarterly dividend of $0.22. This represents a $0.96 dividend on an annualized basis and a yield of 2.68%. Devon Energy’s dividend payout ratio is 21.05%.

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.