Great Valley Advisor Group Inc. Raises Holdings in Devon Energy Co. (NYSE:DVN)

Great Valley Advisor Group Inc. boosted its stake in shares of Devon Energy Co. (NYSE:DVN) by 17.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,226 shares of the energy company’s stock after acquiring an additional 1,073 shares during the quarter. Great Valley Advisor Group Inc.’s holdings in Devon Energy were worth $283,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. William B. Walkup & Associates Inc. purchased a new stake in Devon Energy during the 2nd quarter valued at about $1,026,000. CIBC Asset Management Inc boosted its holdings in Devon Energy by 6.3% during the 3rd quarter. CIBC Asset Management Inc now owns 107,182 shares of the energy company’s stock valued at $4,193,000 after acquiring an additional 6,358 shares during the period. Smead Capital Management Inc. boosted its holdings in Devon Energy by 3.5% during the 3rd quarter. Smead Capital Management Inc. now owns 5,879,516 shares of the energy company’s stock valued at $230,007,000 after acquiring an additional 198,193 shares during the period. Nations Financial Group Inc. IA ADV purchased a new stake in Devon Energy during the 3rd quarter valued at about $592,000. Finally, Gordian Capital Singapore Pte Ltd purchased a new stake in Devon Energy during the 2nd quarter valued at about $711,000. 69.72% of the stock is currently owned by hedge funds and other institutional investors.

Devon Energy Stock Performance

Devon Energy stock opened at $37.83 on Thursday. The company has a quick ratio of 1.01, a current ratio of 1.11 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $24.85 billion, a P/E ratio of 7.05, a PEG ratio of 1.21 and a beta of 2.03. The stock’s 50 day moving average is $39.85 and its 200 day moving average is $43.73. Devon Energy Co. has a twelve month low of $37.28 and a twelve month high of $55.09.

Devon Energy (NYSE:DVN) last issued its earnings results on Tuesday, November 5th. The energy company reported $1.10 EPS for the quarter, beating the consensus estimate of $1.09 by $0.01. Devon Energy had a return on equity of 24.73% and a net margin of 21.71%. The business had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $3.72 billion. During the same period last year, the business posted $1.65 EPS. The company’s revenue was up 4.9% compared to the same quarter last year. On average, equities research analysts predict that Devon Energy Co. will post 4.79 earnings per share for the current fiscal year.

Devon Energy Dividend Announcement

The firm also recently announced 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. The ex-dividend date is Friday, December 13th. This represents a $0.88 annualized dividend and a yield of 2.33%. Devon Energy’s dividend payout ratio is 16.33%.

Analyst Ratings Changes

DVN has been the subject of a number of recent analyst reports. TD Cowen lowered their price target on Devon Energy from $54.00 to $46.00 and set a “hold” rating for the company in a research report on Tuesday, November 5th. Morgan Stanley lowered their price target on Devon Energy from $55.00 to $51.00 and set an “overweight” rating for the company in a research report on Monday, September 16th. UBS Group lowered their price target on Devon Energy from $53.00 to $47.00 and set a “neutral” rating for the company in a research report on Wednesday, September 18th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $57.00 price target on shares of Devon Energy in a research report on Tuesday, September 3rd. Finally, Wells Fargo & Company lowered their price target on Devon Energy from $50.00 to $49.00 and set an “overweight” rating for the company in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $51.15.

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.