Geneos Wealth Management Inc. Buys 1,713 Shares of Devon Energy Co. (NYSE:DVN)

Geneos Wealth Management Inc. raised its position in shares of Devon Energy Co. (NYSE:DVN) by 22.1% in the fourth quarter, HoldingsChannel.com reports. The firm owned 9,466 shares of the energy company’s stock after purchasing an additional 1,713 shares during the quarter. Geneos Wealth Management Inc.’s holdings in Devon Energy were worth $310,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Capital Performance Advisors LLP acquired a new stake in shares of Devon Energy during the third quarter worth $35,000. Future Financial Wealth Managment LLC bought a new stake in Devon Energy during the third quarter valued at $39,000. True Wealth Design LLC grew its holdings in 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 worth $44,000 after acquiring an additional 1,089 shares during the period. Hazlett Burt & Watson Inc. raised its position 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 worth $49,000 after acquiring an additional 290 shares in the last quarter. Finally, Activest Wealth Management lifted its stake in shares of Devon Energy by 60.4% in 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 during the period. Institutional investors and hedge funds own 69.72% of the company’s stock.

Wall Street Analysts Forecast Growth

DVN has been the subject of several recent analyst reports. JPMorgan Chase & Co. cut Devon Energy from an “overweight” rating to a “neutral” rating and set a $43.00 target price for the company. in a research note on Thursday, December 5th. Piper Sandler raised their price objective on shares of Devon Energy from $53.00 to $54.00 and gave the stock an “overweight” rating in a research report on Wednesday. Scotiabank dropped their target price on shares of Devon Energy from $60.00 to $48.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. 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 report on Thursday, October 3rd. Finally, Truist Financial dropped their price objective on shares of Devon Energy from $43.00 to $42.00 and set a “hold” rating on the stock in a report on Monday, January 13th. Nine analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $49.45.

Devon Energy Stock Up 0.5 %

Devon Energy stock opened at $35.05 on Thursday. 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 stock has a market cap of $23.02 billion, a PE ratio of 6.50, a price-to-earnings-growth ratio of 1.21 and a beta of 2.00. Devon Energy Co. has a fifty-two week low of $30.39 and a fifty-two week high of $55.09. The firm’s 50-day simple moving average is $35.07 and its 200 day simple moving average is $39.67.

Devon Energy (NYSE:DVN) last issued its quarterly earnings results on Tuesday, November 5th. The energy company reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.01. Devon Energy had a return on equity of 24.73% and a net margin of 21.71%. The company had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $3.72 billion. During the same period last year, the business posted $1.65 earnings per share. Devon Energy’s revenue was up 4.9% on a year-over-year basis. Research analysts predict that Devon Energy Co. will post 4.7 EPS for the current fiscal year.

Devon Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Friday, December 13th were paid 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 2.51%. Devon Energy’s payout ratio is currently 16.33%.

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.