Kerusso Capital Management LLC Increases Stake in Devon Energy Co. (NYSE:DVN)

Kerusso Capital Management LLC grew its holdings in Devon Energy Co. (NYSE:DVN) by 6.4% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 56,839 shares of the energy company’s stock after buying an additional 3,400 shares during the quarter. Kerusso Capital Management LLC’s holdings in Devon Energy were worth $2,224,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Verdence Capital Advisors LLC purchased a new stake in Devon Energy in the 3rd quarter valued at approximately $368,000. Equitable Trust Co. grew its stake in shares of Devon Energy by 6.4% during the 3rd quarter. Equitable Trust Co. now owns 6,328 shares of the energy company’s stock valued at $248,000 after buying an additional 379 shares during the period. Capital Performance Advisors LLP acquired a new position in Devon Energy in the third quarter valued at $35,000. Philip James Wealth Mangement LLC acquired a new stake in Devon Energy during the 3rd quarter worth approximately $717,000. Finally, Stiles Financial Services Inc raised its stake in shares of Devon Energy by 8.9% in the 3rd quarter. Stiles Financial Services Inc now owns 50,959 shares of the energy company’s stock valued at $1,993,000 after acquiring an additional 4,159 shares during the period. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Devon Energy Trading Down 0.1 %

NYSE:DVN traded down $0.02 during mid-day trading on Friday, hitting $38.87. The company had a trading volume of 8,623,251 shares, compared to its average volume of 8,479,262. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.03 and a current ratio of 1.11. Devon Energy Co. has a fifty-two week low of $37.76 and a fifty-two week high of $55.09. The firm has a market cap of $24.34 billion, a P/E ratio of 7.21, a P/E/G ratio of 1.23 and a beta of 2.03. The business’s fifty day moving average is $40.48 and its two-hundred day moving average is $44.89.

Devon Energy (NYSE:DVN) last issued its quarterly earnings data on Tuesday, November 5th. The energy company reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.09 by $0.01. The firm had revenue of $4.02 billion during 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 business’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.65 earnings per share. As a group, research analysts expect that Devon Energy Co. will post 4.93 earnings per share for the current year.

Devon Energy Dividend Announcement

The firm also recently declared 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. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date is Friday, December 13th. Devon Energy’s dividend payout ratio is currently 16.33%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on DVN shares. Susquehanna lowered their target price on Devon Energy from $63.00 to $62.00 and set a “positive” rating for the company in a research note on Friday, October 18th. Morgan Stanley decreased their price target on Devon Energy from $55.00 to $51.00 and set an “overweight” rating for the company in a research note on Monday, September 16th. Mizuho lowered their price objective on shares of Devon Energy from $53.00 to $51.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 9th. StockNews.com downgraded Devon Energy from a “hold” rating to a “sell” rating in a research report on Thursday. Finally, JPMorgan Chase & Co. dropped their price objective 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. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, Devon Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.80.

About Devon Energy

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.