Culbertson A N & Co. Inc. Increases Stock Holdings in Devon Energy Co. (NYSE:DVN)

Culbertson A N & Co. Inc. raised its stake in shares of Devon Energy Co. (NYSE:DVN) by 36.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 32,611 shares of the energy company’s stock after purchasing an additional 8,698 shares during the quarter. Culbertson A N & Co. Inc.’s holdings in Devon Energy were worth $1,067,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Capital Performance Advisors LLP bought a new position in Devon Energy in the third quarter worth about $35,000. Future Financial Wealth Managment LLC bought a new position in shares of Devon Energy in the 3rd quarter worth approximately $39,000. True Wealth Design LLC raised its position 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 worth $44,000 after acquiring an additional 1,089 shares in the last quarter. Hazlett Burt & Watson Inc. lifted its stake in shares of Devon Energy by 29.8% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 1,263 shares of the energy company’s stock valued at $49,000 after purchasing an additional 290 shares during the period. Finally, Activest Wealth Management boosted its position 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 valued at $50,000 after purchasing an additional 480 shares in the last quarter. 69.72% of the stock is currently owned by institutional investors.

Devon Energy Stock Down 1.2 %

Devon Energy stock opened at $37.98 on Tuesday. Devon Energy Co. has a one year low of $30.39 and a one year high of $55.09. The stock has a fifty day moving average of $35.46 and a 200 day moving average of $40.14. 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 market cap of $24.95 billion, a PE ratio of 7.05, a price-to-earnings-growth ratio of 1.14 and a beta of 2.00.

Devon Energy (NYSE:DVN) last issued its quarterly earnings data on Tuesday, November 5th. The energy company reported $1.10 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.01. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%. The firm had revenue of $4.02 billion for the quarter, compared to analysts’ expectations of $3.72 billion. During the same quarter in the prior year, the business earned $1.65 EPS. The business’s quarterly revenue was up 4.9% on a year-over-year basis. As a group, sell-side analysts predict that Devon Energy Co. will post 4.72 EPS for the current year.

Devon Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Friday, December 13th were issued a $0.22 dividend. The ex-dividend date was Friday, December 13th. This represents a $0.88 dividend on an annualized basis and a yield of 2.32%. Devon Energy’s dividend payout ratio is currently 16.33%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Citigroup lowered 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. Scotiabank dropped their price objective on shares of Devon Energy from $60.00 to $48.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Wells Fargo & Company decreased 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 note on Tuesday, December 17th. StockNews.com raised Devon Energy from a “sell” rating to a “hold” rating in a research report on Friday, January 3rd. Finally, Susquehanna reduced their price objective on Devon Energy from $63.00 to $62.00 and set a “positive” rating for the company in a research report on Friday, October 18th. Nine analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, Devon Energy has a consensus rating of “Moderate Buy” and a consensus price target of $49.27.

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.