Crossmark Global Holdings Inc. Acquires 21,584 Shares of Devon Energy Co. (NYSE:DVN)

Crossmark Global Holdings Inc. grew its holdings in Devon Energy Co. (NYSE:DVN) by 91.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 45,196 shares of the energy company’s stock after purchasing an additional 21,584 shares during the period. Crossmark Global Holdings Inc.’s holdings in Devon Energy were worth $1,768,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of DVN. Triad Wealth Partners LLC bought a new stake in Devon Energy during the 2nd quarter valued at $27,000. 1620 Investment Advisors Inc. purchased a new position in shares of Devon Energy in the second quarter valued at $34,000. Capital Performance Advisors LLP bought a new stake in shares of Devon Energy during the 3rd quarter valued at $35,000. PSI Advisors LLC lifted its holdings in Devon Energy by 66.7% during the 2nd quarter. PSI Advisors LLC now owns 750 shares of the energy company’s stock worth $36,000 after purchasing an additional 300 shares in the last quarter. Finally, LRI Investments LLC bought a new position in Devon Energy in the 1st quarter worth about $39,000. 69.72% of the stock is currently owned by hedge funds and other institutional investors.

Devon Energy Price Performance

Shares of NYSE:DVN opened at $38.33 on Wednesday. The company has a quick ratio of 1.03, a current ratio of 1.11 and a debt-to-equity ratio of 0.61. The stock has a market cap of $25.18 billion, a PE ratio of 7.11, a PEG ratio of 1.21 and a beta of 2.03. The company’s fifty day moving average is $40.27 and its 200 day moving average is $44.59. Devon Energy Co. has a 52 week low of $37.76 and a 52 week high of $55.09.

Devon Energy (NYSE:DVN) last released its quarterly earnings data on Tuesday, November 5th. The energy company reported $1.10 EPS for the quarter, topping the consensus estimate of $1.09 by $0.01. The firm had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $3.72 billion. Devon Energy had a return on equity of 24.73% and a net margin of 21.71%. The company’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.65 earnings per share. Research analysts anticipate that Devon Energy Co. will post 4.89 earnings per share for the current year.

Devon Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be given a $0.22 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.88 annualized dividend and a yield of 2.30%. Devon Energy’s payout ratio is currently 16.33%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. UBS Group lowered their price target on shares of Devon Energy from $53.00 to $47.00 and set a “neutral” rating on the stock in a report on Wednesday, September 18th. BMO Capital Markets cut their price target 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 reduced their price target on shares of Devon Energy from $55.00 to $46.00 and set an “equal weight” rating for the company in a research report on Thursday, October 3rd. Jefferies Financial Group initiated coverage on Devon Energy in a research report on Thursday, October 3rd. They issued a “hold” rating and a $45.00 price objective on the stock. Finally, Benchmark restated a “hold” rating on shares of Devon Energy in a research report on Tuesday, October 15th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, Devon Energy currently has a consensus rating of “Hold” and an average price target of $51.80.

About Devon Energy

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.