Blue Trust Inc. Grows Stock Position in Devon Energy Co. (NYSE:DVN)

Blue Trust Inc. increased its stake in shares of Devon Energy Co. (NYSE:DVN) by 16.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,820 shares of the energy company’s stock after purchasing an additional 2,334 shares during the quarter. Blue Trust Inc.’s holdings in Devon Energy were worth $551,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Capital Performance Advisors LLP purchased a new stake in shares of Devon Energy during the third quarter worth approximately $35,000. Future Financial Wealth Managment LLC purchased a new stake in shares of Devon Energy in the 3rd quarter valued at approximately $39,000. True Wealth Design LLC raised 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 valued at $44,000 after purchasing an additional 1,089 shares in the last quarter. Hazlett Burt & Watson Inc. lifted its position 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 worth $49,000 after purchasing an additional 290 shares during the last quarter. Finally, Activest Wealth Management grew its stake in shares of Devon Energy by 60.4% during the third quarter. Activest Wealth Management now owns 1,275 shares of the energy company’s stock worth $50,000 after purchasing an additional 480 shares in the last quarter. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Analyst Upgrades and Downgrades

DVN has been the topic of a number of analyst reports. Royal Bank of Canada restated a “sector perform” rating and issued a $50.00 price target on shares of Devon Energy in a research note on Friday, January 10th. Sanford C. Bernstein upgraded Devon Energy from a “market perform” rating to an “outperform” rating and set a $45.00 target price for the company in a research note on Wednesday, January 15th. StockNews.com upgraded shares of Devon Energy from a “sell” rating to a “hold” rating in a research note on Friday, January 3rd. TD Cowen reduced their price objective on shares of Devon Energy from $54.00 to $46.00 and set a “hold” rating for the company in a research report on Tuesday, November 5th. Finally, Barclays dropped their target price on shares of Devon Energy from $55.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 3rd. Nine equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $49.45.

Devon Energy Stock Performance

Shares of DVN opened at $35.04 on Friday. Devon Energy Co. has a 1 year low of $30.39 and a 1 year high of $55.09. The stock has a market capitalization of $23.02 billion, a P/E ratio of 6.50, a P/E/G ratio of 1.21 and a beta of 2.00. 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 company’s fifty day moving average is $35.00 and its two-hundred day moving average is $39.64.

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

Devon Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Friday, December 13th were given a dividend of $0.22 per share. The ex-dividend date was Friday, December 13th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.51%. 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.