Signal Advisors Wealth LLC Has $277,000 Stock Position in Devon Energy Co. (NYSE:DVN)

Signal Advisors Wealth LLC raised its stake in Devon Energy Co. (NYSE:DVN) by 25.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,475 shares of the energy company’s stock after purchasing an additional 1,739 shares during the quarter. Signal Advisors Wealth LLC’s holdings in Devon Energy were worth $277,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. SkyOak Wealth LLC boosted its holdings in shares of Devon Energy by 4.1% in the 2nd quarter. SkyOak Wealth LLC now owns 6,297 shares of the energy company’s stock valued at $298,000 after buying an additional 250 shares during the last quarter. Riversedge Advisors LLC grew its position in shares of Devon Energy by 3.6% in the 3rd quarter. Riversedge Advisors LLC now owns 7,336 shares of the energy company’s stock valued at $287,000 after acquiring an additional 253 shares during the period. Modus Advisors LLC grew its position in shares of Devon Energy by 2.4% in the 3rd quarter. Modus Advisors LLC now owns 11,439 shares of the energy company’s stock valued at $447,000 after acquiring an additional 272 shares during the period. Lummis Asset Management LP increased its stake in shares of Devon Energy by 1.0% during the 2nd quarter. Lummis Asset Management LP now owns 30,055 shares of the energy company’s stock worth $1,425,000 after purchasing an additional 290 shares during the last quarter. Finally, Hazlett Burt & Watson Inc. raised its holdings in shares of Devon Energy by 29.8% in 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 during the period. Institutional investors and hedge funds own 69.72% of the company’s stock.

Devon Energy Price Performance

DVN stock opened at $38.45 on Thursday. The company’s 50-day moving average price is $35.54 and its two-hundred day moving average price is $40.42. Devon Energy Co. has a 12 month low of $30.39 and a 12 month high of $55.09. 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 firm has a market cap of $25.26 billion, a P/E ratio of 7.13, a P/E/G ratio of 1.07 and a beta of 2.00.

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

Devon Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Friday, December 13th were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.88 annualized dividend and a dividend yield of 2.29%. Devon Energy’s dividend payout ratio is currently 16.33%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Scotiabank dropped their price objective on Devon Energy from $60.00 to $48.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Jefferies Financial Group started coverage on Devon Energy in a report on Thursday, October 3rd. They set a “hold” rating and a $45.00 price target for the company. UBS Group decreased their price objective 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. Raymond James cut their target price on shares of Devon Energy from $58.00 to $51.00 in a research note on Tuesday, November 5th. Finally, Piper Sandler decreased their price target on shares of Devon Energy from $57.00 to $53.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 17th. Nine investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, Devon Energy currently has an average rating of “Moderate Buy” and an average target price of $49.27.

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.