Graypoint LLC Acquires 553 Shares of Devon Energy Co. (NYSE:DVN)

Graypoint LLC grew its holdings in Devon Energy Co. (NYSE:DVN) by 5.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,891 shares of the energy company’s stock after acquiring an additional 553 shares during the period. Graypoint LLC’s holdings in Devon Energy were worth $426,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. lifted its position in Devon Energy by 3.5% during the first quarter. Vanguard Group Inc. now owns 76,457,056 shares of the energy company’s stock valued at $3,836,615,000 after purchasing an additional 2,559,039 shares in the last quarter. Pacer Advisors Inc. raised its stake in shares of Devon Energy by 16.8% in the second quarter. Pacer Advisors Inc. now owns 9,913,516 shares of the energy company’s stock worth $469,901,000 after buying an additional 1,428,776 shares during the period. Raymond James & Associates lifted its position in shares of Devon Energy by 1.5% during the 2nd quarter. Raymond James & Associates now owns 9,183,778 shares of the energy company’s stock valued at $435,311,000 after buying an additional 138,919 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Devon Energy by 16.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 8,793,217 shares of the energy company’s stock valued at $416,779,000 after acquiring an additional 1,255,543 shares during the period. Finally, Thrivent Financial for Lutherans increased its holdings in Devon Energy by 15.9% in the 2nd quarter. Thrivent Financial for Lutherans now owns 5,094,017 shares of the energy company’s stock worth $241,456,000 after acquiring an additional 699,743 shares in the last quarter. Institutional investors own 69.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. TD Cowen lowered their price target on shares of Devon Energy from $54.00 to $46.00 and set a “hold” rating on the stock in a report on Tuesday. BMO Capital Markets dropped 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. Barclays decreased their price target on Devon Energy from $55.00 to $46.00 and set an “equal weight” rating on the stock in a report on Thursday, October 3rd. Sanford C. Bernstein dropped their price objective on Devon Energy from $48.00 to $43.00 and set a “market perform” rating for the company in a research note on Wednesday, July 17th. Finally, Benchmark reissued a “hold” rating on shares of Devon Energy in a research note on Tuesday, October 15th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.80.

Devon Energy Stock Down 0.1 %

Shares of NYSE:DVN opened at $38.87 on Friday. The company has a market cap of $24.34 billion, a price-to-earnings ratio of 7.05, a PEG ratio of 1.20 and a beta of 2.03. Devon Energy Co. has a 12 month low of $37.76 and a 12 month high of $55.09. The company has a current ratio of 1.11, a quick ratio of 1.03 and a debt-to-equity ratio of 0.45. The company has a 50-day moving average price of $40.48 and a 200 day moving average price of $44.89.

Devon Energy (NYSE:DVN) last posted its quarterly earnings data on Tuesday, November 5th. The energy company reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.01. The business 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 29.14% and a net margin of 22.60%. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period last year, the company earned $1.65 EPS. As a group, equities research analysts predict that Devon Energy Co. will post 4.93 earnings per share for the current year.

Devon Energy Dividend Announcement

The company 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 dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.26%. The ex-dividend date of this dividend is Friday, December 13th. Devon Energy’s payout ratio is 15.97%.

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.