Devon Energy Co. (NYSE:DVN) Shares Bought by Abich Financial Wealth Management LLC

Abich Financial Wealth Management LLC lifted its position in shares of Devon Energy Co. (NYSE:DVN) by 23.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,209 shares of the energy company’s stock after acquiring an additional 612 shares during the quarter. Abich Financial Wealth Management LLC’s holdings in Devon Energy were worth $152,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Salem Investment Counselors Inc. boosted its stake in shares of Devon Energy by 31.4% during the 1st quarter. Salem Investment Counselors Inc. now owns 832 shares of the energy company’s stock worth $42,000 after acquiring an additional 199 shares in the last quarter. Retirement Group LLC boosted its stake in shares of Devon Energy by 21.8% during the 1st quarter. Retirement Group LLC now owns 1,110 shares of the energy company’s stock worth $56,000 after acquiring an additional 199 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its stake in shares of Devon Energy by 7.4% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 3,046 shares of the energy company’s stock worth $153,000 after acquiring an additional 209 shares in the last quarter. MCF Advisors LLC boosted its stake in shares of Devon Energy by 5.6% during the 1st quarter. MCF Advisors LLC now owns 4,023 shares of the energy company’s stock worth $202,000 after acquiring an additional 215 shares in the last quarter. Finally, Annex Advisory Services LLC lifted its stake in Devon Energy by 0.8% in the 2nd quarter. Annex Advisory Services LLC now owns 27,651 shares of the energy company’s stock valued at $1,311,000 after buying an additional 223 shares in the last quarter. 69.72% of the stock is owned by hedge funds and other institutional investors.

Devon Energy Trading Down 0.3 %

Shares of Devon Energy stock opened at $41.01 on Wednesday. The company has a quick ratio of 1.03, a current ratio of 1.11 and a debt-to-equity ratio of 0.45. The company’s 50-day simple moving average is $43.77 and its 200-day simple moving average is $47.23. Devon Energy Co. has a 52-week low of $39.02 and a 52-week high of $55.09. The firm has a market cap of $25.68 billion, a price-to-earnings ratio of 7.83, a price-to-earnings-growth ratio of 1.22 and a beta of 2.03.

Devon Energy (NYSE:DVN) last issued its earnings results on Tuesday, August 6th. The energy company reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.15. Devon Energy had a net margin of 22.60% and a return on equity of 29.14%. The company had revenue of $3.92 billion for the quarter, compared to analyst estimates of $3.90 billion. During the same period in the prior year, the business posted $1.18 earnings per share. The firm’s revenue for the quarter was up 13.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Devon Energy Co. will post 5.11 earnings per share for the current year.

Devon Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date is Friday, September 13th. Devon Energy’s dividend payout ratio (DPR) is presently 16.79%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. BMO Capital Markets raised shares of Devon Energy to a “strong-buy” rating in a research note on Wednesday, July 3rd. JPMorgan Chase & Co. cut their price target on shares of Devon Energy from $64.00 to $51.00 and set an “overweight” rating for the company in a report on Thursday, September 12th. Royal Bank of Canada restated a “sector perform” rating and set a $57.00 price target on shares of Devon Energy in a report on Tuesday, September 3rd. Wolfe Research started coverage on shares of Devon Energy in a report on Thursday, July 18th. They issued a “peer perform” rating for the company. Finally, Susquehanna dropped their target price on shares of Devon Energy from $65.00 to $63.00 and set a “positive” rating for the company in a report on Wednesday, September 4th. Six equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $57.00.

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.