Devon Energy Co. (NYSE:DVN) Shares Acquired by KMG Fiduciary Partners LLC

KMG Fiduciary Partners LLC lifted its holdings in Devon Energy Co. (NYSE:DVN) by 164.6% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 94,986 shares of the energy company’s stock after purchasing an additional 59,086 shares during the period. KMG Fiduciary Partners LLC’s holdings in Devon Energy were worth $3,109,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Envestnet Asset Management Inc. grew its holdings in Devon Energy by 0.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 315,446 shares of the energy company’s stock worth $14,952,000 after acquiring an additional 1,591 shares in the last quarter. Citizens Financial Group Inc. RI grew its holdings in Devon Energy by 13.4% during the 2nd quarter. Citizens Financial Group Inc. RI now owns 10,752 shares of the energy company’s stock worth $510,000 after acquiring an additional 1,272 shares in the last quarter. Edgestream Partners L.P. acquired a new position in shares of Devon Energy in the 2nd quarter valued at $342,000. Axxcess Wealth Management LLC boosted its holdings in shares of Devon Energy by 116.7% in the 2nd quarter. Axxcess Wealth Management LLC now owns 14,737 shares of the energy company’s stock valued at $699,000 after buying an additional 7,937 shares in the last quarter. Finally, Mutual of America Capital Management LLC boosted its holdings in shares of Devon Energy by 16.8% in the 2nd quarter. Mutual of America Capital Management LLC now owns 188,527 shares of the energy company’s stock valued at $8,936,000 after buying an additional 27,056 shares in the last quarter. Institutional investors and hedge funds own 69.72% of the company’s stock.

Analyst Ratings Changes

DVN has been the subject of several research analyst reports. BMO Capital Markets lowered their target price on shares of Devon Energy from $52.00 to $48.00 and set an “outperform” rating for the company in a report on Friday, October 4th. Scotiabank lowered their target price on shares of Devon Energy from $60.00 to $48.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Wells Fargo & Company lowered their target price on shares of Devon Energy from $49.00 to $43.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th. Jefferies Financial Group started coverage on shares of Devon Energy in a report on Thursday, October 3rd. They issued a “hold” rating and a $45.00 target price for the company. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $50.00 price target on shares of Devon Energy in a research report on Friday, January 10th. Nine investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $49.27.

Devon Energy Stock Performance

Shares of DVN opened at $38.42 on Friday. The company has a 50-day simple moving average of $35.50 and a 200-day simple moving average of $40.39. The company has a quick ratio of 1.01, a current ratio of 1.11 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $25.24 billion, a PE ratio of 7.13, a P/E/G ratio of 1.14 and a beta of 2.00. Devon Energy Co. has a 52-week low of $30.39 and a 52-week high of $55.09.

Devon Energy (NYSE:DVN) last issued its quarterly earnings data 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 firm’s revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the company earned $1.65 EPS. Equities research analysts predict that Devon Energy Co. will post 4.72 earnings per share for the current fiscal year.

Devon Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Friday, December 13th were paid a $0.22 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.88 dividend on an annualized basis and a yield of 2.29%. Devon Energy’s payout ratio is 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.