Compass Wealth Management LLC Has $266,000 Holdings in Devon Energy Co. (NYSE:DVN)

Compass Wealth Management LLC increased its stake in shares of Devon Energy Co. (NYSE:DVN) by 6.0% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 5,300 shares of the energy company’s stock after acquiring an additional 300 shares during the period. Compass Wealth Management LLC’s holdings in Devon Energy were worth $266,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of DVN. PNC Financial Services Group Inc. lifted its position in shares of Devon Energy by 5.0% during the 3rd quarter. PNC Financial Services Group Inc. now owns 141,966 shares of the energy company’s stock worth $6,772,000 after buying an additional 6,739 shares during the period. Kestra Advisory Services LLC lifted its position in shares of Devon Energy by 6.8% during the 3rd quarter. Kestra Advisory Services LLC now owns 107,616 shares of the energy company’s stock worth $5,133,000 after buying an additional 6,850 shares during the period. Korea Investment CORP raised its position in Devon Energy by 11.9% in the 3rd quarter. Korea Investment CORP now owns 374,605 shares of the energy company’s stock valued at $17,869,000 after purchasing an additional 39,859 shares during the last quarter. QRG Capital Management Inc. bought a new position in Devon Energy in the 3rd quarter valued at $1,027,000. Finally, Envestnet Portfolio Solutions Inc. bought a new position in Devon Energy in the 3rd quarter valued at $3,190,000. Institutional investors own 69.72% of the company’s stock.

Insiders Place Their Bets

In other Devon Energy news, EVP Tana K. Cashion sold 20,000 shares of the stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $51.04, for a total value of $1,020,800.00. Following the completion of the sale, the executive vice president now directly owns 104,182 shares in the company, valued at $5,317,449.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on DVN. StockNews.com upgraded Devon Energy from a “hold” rating to a “buy” rating in a research report on Tuesday. JPMorgan Chase & Co. lifted their price objective on Devon Energy from $57.00 to $62.00 and gave the company an “overweight” rating in a research report on Monday, April 8th. Royal Bank of Canada lifted their price objective on Devon Energy from $55.00 to $57.00 and gave the company a “sector perform” rating in a research report on Thursday, May 9th. Morgan Stanley lifted their price objective on Devon Energy from $49.00 to $50.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Finally, Bank of America reiterated a “buy” rating and issued a $64.00 price objective on shares of Devon Energy in a research report on Friday, June 14th. Four research 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, Devon Energy presently has an average rating of “Moderate Buy” and an average price target of $59.24.

Devon Energy Trading Down 0.2 %

NYSE DVN opened at $45.65 on Thursday. The stock has a 50-day simple moving average of $49.52 and a 200 day simple moving average of $46.76. The company has a market capitalization of $28.85 billion, a PE ratio of 8.71, a P/E/G ratio of 1.21 and a beta of 2.08. The company has a current ratio of 1.04, a quick ratio of 0.97 and a debt-to-equity ratio of 0.46. Devon Energy Co. has a 12 month low of $40.47 and a 12 month high of $55.09.

Devon Energy (NYSE:DVN) last released its quarterly earnings data on Wednesday, May 1st. The energy company reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.06. The business had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.64 billion. Devon Energy had a return on equity of 29.02% and a net margin of 22.27%. The firm’s revenue was down 5.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.46 earnings per share. Research analysts forecast that Devon Energy Co. will post 5.24 EPS for the current year.

Devon Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be issued a $0.22 dividend. The ex-dividend date is Friday, June 14th. This represents a $0.88 annualized dividend and a dividend yield of 1.93%. Devon Energy’s dividend payout ratio (DPR) is currently 16.79%.

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.