Devon Energy Co. (NYSE:DVN) Shares Purchased by Hodges Capital Management Inc.

Hodges Capital Management Inc. increased its stake in shares of Devon Energy Co. (NYSE:DVN) by 3.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,443 shares of the energy company’s stock after purchasing an additional 631 shares during the period. Hodges Capital Management Inc.’s holdings in Devon Energy were worth $925,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Manchester Capital Management LLC acquired a new position in shares of Devon Energy during the 4th quarter worth approximately $28,000. Sound Income Strategies LLC grew its stake in Devon Energy by 60.7% in the 4th quarter. Sound Income Strategies LLC now owns 675 shares of the energy company’s stock worth $31,000 after acquiring an additional 255 shares during the period. Rise Advisors LLC grew its stake in Devon Energy by 1,365.3% in the 4th quarter. Rise Advisors LLC now owns 718 shares of the energy company’s stock worth $33,000 after acquiring an additional 669 shares during the period. Jones Financial Companies Lllp grew its stake in Devon Energy by 104.8% in the 4th quarter. Jones Financial Companies Lllp now owns 731 shares of the energy company’s stock worth $33,000 after acquiring an additional 374 shares during the period. Finally, PFS Partners LLC purchased a new stake in Devon Energy in the 4th quarter worth approximately $36,000. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Devon Energy news, EVP Tana K. Cashion sold 20,000 shares of the business’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $51.04, for a total value of $1,020,800.00. Following the transaction, the executive vice president now owns 104,182 shares in the company, valued at approximately $5,317,449.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.73% of the stock is currently owned by company insiders.

Devon Energy Stock Up 0.8 %

Shares of Devon Energy stock opened at $47.40 on Friday. The company has a fifty day moving average price of $48.73 and a 200 day moving average price of $46.91. 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 twelve month low of $40.47 and a twelve month high of $55.09. The stock has a market cap of $29.96 billion, a price-to-earnings ratio of 9.05, a price-to-earnings-growth ratio of 1.25 and a beta of 2.08.

Devon Energy (NYSE:DVN) last announced its quarterly earnings results on Wednesday, May 1st. The energy company reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.06. Devon Energy had a net margin of 22.27% and a return on equity of 29.02%. The firm had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.64 billion. During the same period in the prior year, the company earned $1.46 EPS. The firm’s revenue was down 5.9% on a year-over-year basis. Equities research analysts forecast that Devon Energy Co. will post 5.25 earnings per share for the current fiscal year.

Devon Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were given a dividend of $0.22 per share. The ex-dividend date was Friday, June 14th. This represents a $0.88 dividend on an annualized basis and a yield of 1.86%. Devon Energy’s dividend payout ratio (DPR) is 16.79%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Wells Fargo & Company raised shares of Devon Energy from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $46.00 to $59.00 in a research note on Monday, April 1st. Morgan Stanley lifted their target price on shares of Devon Energy from $49.00 to $50.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. JPMorgan Chase & Co. lifted their target price on shares of Devon Energy from $57.00 to $62.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. Scotiabank boosted their price objective on shares of Devon Energy from $53.00 to $67.00 and gave the company a “sector outperform” rating in a research note on Thursday, April 11th. Finally, Royal Bank of Canada boosted their price objective on shares of Devon Energy from $55.00 to $57.00 and gave the company a “sector perform” rating in a research note on Thursday, May 9th. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $59.24.

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.