Caprock Group LLC Buys 11,794 Shares of Devon Energy Co. (NYSE:DVN)

Caprock Group LLC grew its position in Devon Energy Co. (NYSE:DVN) by 100.1% in the second quarter, according to its most recent filing with the SEC. The fund owned 23,573 shares of the energy company’s stock after acquiring an additional 11,794 shares during the period. Caprock Group LLC’s holdings in Devon Energy were worth $1,117,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Triad Wealth Partners LLC acquired a new stake in shares of Devon Energy during the second quarter valued at about $27,000. Manchester Capital Management LLC bought a new position in Devon Energy in the 4th quarter valued at approximately $28,000. Tradewinds Capital Management LLC acquired a new stake in Devon Energy during the 1st quarter worth approximately $30,000. Jones Financial Companies Lllp grew its holdings in Devon Energy by 104.8% during 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 last quarter. Finally, 1620 Investment Advisors Inc. acquired a new position in Devon Energy in the 2nd quarter valued at approximately $34,000. Institutional investors and hedge funds own 69.72% of the company’s stock.

Devon Energy Trading Down 2.8 %

NYSE:DVN opened at $40.24 on Wednesday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.11 and a quick ratio of 1.03. Devon Energy Co. has a one year low of $40.10 and a one year high of $55.09. The company has a market cap of $25.43 billion, a PE ratio of 7.68, a PEG ratio of 1.17 and a beta of 2.03. The firm has a 50-day moving average of $45.12 and a 200-day moving average of $47.54.

Devon Energy (NYSE:DVN) last issued its quarterly earnings data on Tuesday, August 6th. The energy company reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.15. Devon Energy had a return on equity of 29.14% and a net margin of 22.60%. The firm had revenue of $3.92 billion during the quarter, compared to analyst estimates of $3.90 billion. During the same period in the previous year, the company posted $1.18 EPS. The company’s revenue for the quarter was up 13.4% on a year-over-year basis. As a group, equities research analysts expect that Devon Energy Co. will post 5.37 EPS for the current fiscal year.

Devon Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date of this dividend is Friday, September 13th. Devon Energy’s payout ratio is currently 16.79%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on DVN shares. Susquehanna cut their price target on shares of Devon Energy from $65.00 to $63.00 and set a “positive” rating on the stock in a report on Wednesday, September 4th. StockNews.com lowered Devon Energy from a “buy” rating to a “hold” rating in a research report on Monday, September 2nd. BMO Capital Markets upgraded Devon Energy to a “strong-buy” rating in a research report on Wednesday, July 3rd. JPMorgan Chase & Co. upped their target price on Devon Energy from $62.00 to $64.00 and gave the company an “overweight” rating in a report on Monday, July 8th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $57.00 price target on shares of Devon Energy in a report on Tuesday, September 3rd. Six equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Devon Energy has an average rating of “Moderate Buy” and an average price target of $58.63.

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.