Tradewinds Capital Management LLC Invests $30,000 in Devon Energy Co. (NYSE:DVN)

Tradewinds Capital Management LLC purchased a new position in Devon Energy Co. (NYSE:DVN) in the 1st quarter, HoldingsChannel reports. The fund purchased 601 shares of the energy company’s stock, valued at approximately $30,000.

Other large investors have also recently modified their holdings of the company. Salem Investment Counselors Inc. raised its position in Devon Energy by 31.4% in the 1st quarter. Salem Investment Counselors Inc. now owns 832 shares of the energy company’s stock worth $42,000 after buying an additional 199 shares during the last quarter. MCF Advisors LLC raised its position in Devon Energy by 5.6% in the 1st quarter. MCF Advisors LLC now owns 4,023 shares of the energy company’s stock worth $202,000 after buying an additional 215 shares during the last quarter. Sound Income Strategies LLC grew its stake in shares of Devon Energy by 60.7% during the 4th quarter. Sound Income Strategies LLC now owns 675 shares of the energy company’s stock valued at $31,000 after purchasing an additional 255 shares during the period. Cullen Frost Bankers Inc. grew its stake in shares of Devon Energy by 5.1% during the 4th quarter. Cullen Frost Bankers Inc. now owns 5,587 shares of the energy company’s stock valued at $253,000 after purchasing an additional 271 shares during the period. Finally, S. R. Schill & Associates grew its stake in shares of Devon Energy by 3.8% during the 4th quarter. S. R. Schill & Associates now owns 7,784 shares of the energy company’s stock valued at $353,000 after purchasing an additional 282 shares during the period. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Scotiabank boosted their price target on Devon Energy from $53.00 to $67.00 and gave the company a “sector outperform” rating in a research note on Thursday, April 11th. Royal Bank of Canada boosted their price target on Devon Energy from $55.00 to $57.00 and gave the company a “sector perform” rating in a research note on Thursday, May 9th. Susquehanna boosted their price target on Devon Energy from $52.00 to $65.00 and gave the company a “positive” rating in a research note on Monday, April 22nd. Morgan Stanley boosted their price target on Devon Energy from $49.00 to $50.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Finally, Mizuho boosted their price objective on Devon Energy from $57.00 to $61.00 and gave the company a “buy” rating in a research note on Monday, May 13th. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $59.24.

Insider Transactions at Devon Energy

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

Devon Energy Trading Up 0.7 %

DVN stock opened at $48.11 on Thursday. Devon Energy Co. has a 1-year low of $40.47 and a 1-year high of $55.09. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.04 and a quick ratio of 0.97. The company has a market capitalization of $30.41 billion, a price-to-earnings ratio of 9.18, a PEG ratio of 1.26 and a beta of 2.07. The business has a 50 day simple moving average of $48.47 and a two-hundred day simple moving average of $46.98.

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

Devon Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were issued a dividend of $0.22 per share. The ex-dividend date was Friday, June 14th. This represents a $0.88 annualized dividend and a dividend yield of 1.83%. Devon Energy’s dividend payout ratio (DPR) is 16.79%.

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.