Devon Energy Co. (NYSE:DVN) Shares Bought by Petrus Trust Company LTA

Petrus Trust Company LTA lifted its holdings in Devon Energy Co. (NYSE:DVN) by 394.7% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 21,827 shares of the energy company’s stock after purchasing an additional 17,415 shares during the quarter. Petrus Trust Company LTA’s holdings in Devon Energy were worth $854,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in DVN. EnCap Energy Capital Fund XI L.P. bought a new stake in shares of Devon Energy during the 3rd quarter worth $461,857,000. EnCap Partners GP LLC purchased a new stake in shares of Devon Energy during the third quarter worth $408,653,000. EnCap Energy Capital Fund X L.P. acquired a new stake in shares of Devon Energy during the 3rd quarter valued at about $230,928,000. International Assets Investment Management LLC lifted its stake in shares of 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 valued at $89,231,000 after purchasing an additional 2,226,983 shares during the last quarter. Finally, Pacer Advisors Inc. raised its position in shares of Devon Energy by 16.9% in the third quarter. Pacer Advisors Inc. now owns 11,591,168 shares of the energy company’s stock valued at $453,446,000 after purchasing an additional 1,677,652 shares during the period. Institutional investors and hedge funds own 69.72% of the company’s stock.

Devon Energy Stock Down 0.1 %

NYSE DVN opened at $37.58 on Wednesday. The stock has a market capitalization of $24.69 billion, a P/E ratio of 6.97, a price-to-earnings-growth ratio of 1.19 and a beta of 1.99. Devon Energy Co. has a 52 week low of $37.15 and a 52 week high of $55.09. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.11. The stock has a fifty day moving average of $39.55 and a 200-day moving average of $43.31.

Devon Energy (NYSE:DVN) last announced its quarterly earnings data on Tuesday, November 5th. The energy company reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $0.01. The firm had revenue of $4.02 billion during the quarter, compared to analyst estimates of $3.72 billion. Devon Energy had a return on equity of 24.73% and a net margin of 21.71%. The company’s revenue was up 4.9% on a year-over-year basis. During the same period last year, the company earned $1.65 earnings per share. On average, equities research analysts forecast that Devon Energy Co. will post 4.79 EPS for the current year.

Devon Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.88 dividend on an annualized basis and a yield of 2.34%. Devon Energy’s payout ratio is presently 16.33%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on DVN shares. BMO Capital Markets decreased their target price 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. Benchmark reissued a “hold” rating on shares of Devon Energy in a research report on Tuesday, October 15th. Scotiabank decreased their price objective on Devon Energy from $60.00 to $48.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Barclays dropped their target price on Devon Energy from $55.00 to $46.00 and set an “equal weight” rating for the company in a report on Thursday, October 3rd. Finally, Citigroup decreased their price target on Devon Energy from $55.00 to $48.00 and set a “buy” rating on the stock in a research note on Tuesday, November 26th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $51.15.

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.