Hudson Valley Investment Advisors Inc. ADV Grows Stock Holdings in Devon Energy Co. (NYSE:DVN)

Hudson Valley Investment Advisors Inc. ADV raised its position in Devon Energy Co. (NYSE:DVN) by 20.8% during the fourth quarter, Holdings Channel.com reports. The fund owned 6,600 shares of the energy company’s stock after purchasing an additional 1,137 shares during the quarter. Hudson Valley Investment Advisors Inc. ADV’s holdings in Devon Energy were worth $216,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Capital Performance Advisors LLP purchased a new position in shares of Devon Energy in the third quarter valued at about $35,000. Future Financial Wealth Managment LLC purchased a new position in shares of Devon Energy in the third quarter valued at about $39,000. True Wealth Design LLC boosted its stake in shares of Devon Energy by 3,889.3% during the 3rd quarter. True Wealth Design LLC now owns 1,117 shares of the energy company’s stock valued at $44,000 after purchasing an additional 1,089 shares in the last quarter. Hazlett Burt & Watson Inc. boosted its stake in shares of Devon Energy by 29.8% during 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 in the last quarter. Finally, Activest Wealth Management boosted its stake in shares of Devon Energy by 60.4% during the 3rd 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. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on DVN. TD Cowen cut their target price on shares of Devon Energy from $54.00 to $46.00 and set a “hold” rating on the stock in a research note on Tuesday, November 5th. Benchmark reaffirmed a “hold” rating on shares of Devon Energy in a research note on Tuesday, October 15th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $50.00 target price on shares of Devon Energy in a research note on Friday. Jefferies Financial Group initiated coverage on shares of Devon Energy in a research note on Thursday, October 3rd. They set a “hold” rating and a $45.00 target price on the stock. Finally, UBS Group dropped their price objective on shares of Devon Energy from $53.00 to $47.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 18th. Eleven research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, Devon Energy currently has an average rating of “Moderate Buy” and a consensus target price of $49.48.

Devon Energy Trading Up 2.7 %

Shares of NYSE DVN opened at $36.10 on Friday. 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 firm’s 50 day moving average price is $35.67 and its 200-day moving average price is $40.73. Devon Energy Co. has a 52-week low of $30.39 and a 52-week high of $55.09. The company has a market cap of $23.71 billion, a PE ratio of 6.70, a P/E/G ratio of 1.07 and a beta of 1.99.

Devon Energy (NYSE:DVN) last released its quarterly earnings data on Tuesday, November 5th. The energy company reported $1.10 earnings per share for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $3.72 billion. During the same period in the previous year, the company earned $1.65 earnings per share. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. On average, equities research analysts expect that Devon Energy Co. will post 4.79 EPS for the current fiscal year.

Devon Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Friday, December 13th were issued a dividend of $0.22 per share. The ex-dividend date was Friday, December 13th. This represents a $0.88 annualized dividend and a dividend yield of 2.44%. Devon Energy’s payout ratio is 16.33%.

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.