Envestnet Asset Management Inc. Acquires 1,591 Shares of Devon Energy Co. (NYSE:DVN)

Envestnet Asset Management Inc. increased its holdings in shares of Devon Energy Co. (NYSE:DVN) by 0.5% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 315,446 shares of the energy company’s stock after purchasing an additional 1,591 shares during the period. Envestnet Asset Management Inc.’s holdings in Devon Energy were worth $14,952,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Triad Wealth Partners LLC bought a new position in shares of Devon Energy during the second quarter valued at approximately $27,000. Tradewinds Capital Management LLC purchased a new stake in Devon Energy during the first quarter valued at approximately $30,000. 1620 Investment Advisors Inc. purchased a new stake in Devon Energy during the second quarter valued at approximately $34,000. Jones Financial Companies Lllp lifted its position in Devon Energy by 104.8% during the fourth quarter. Jones Financial Companies Lllp now owns 731 shares of the energy company’s stock valued at $33,000 after acquiring an additional 374 shares during the last quarter. Finally, PSI Advisors LLC lifted its position in Devon Energy by 66.7% during the second quarter. PSI Advisors LLC now owns 750 shares of the energy company’s stock valued at $36,000 after acquiring an additional 300 shares during the last quarter. 69.72% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on DVN shares. Wolfe Research started coverage on shares of Devon Energy in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. Wells Fargo & Company decreased their target price on shares of Devon Energy from $57.00 to $55.00 and set an “overweight” rating for the company in a research report on Wednesday, August 14th. Royal Bank of Canada reissued a “sector perform” rating and set a $57.00 target price on shares of Devon Energy in a research report on Tuesday, September 3rd. Bank of America reaffirmed a “buy” rating and issued a $64.00 price target on shares of Devon Energy in a report on Friday, June 14th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Devon Energy from $64.00 to $51.00 and set an “overweight” rating for the company in a report on Thursday, September 12th. Six 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. According to MarketBeat.com, Devon Energy currently has an average rating of “Moderate Buy” and a consensus target price of $57.00.

Devon Energy Trading Down 0.3 %

Shares of Devon Energy stock opened at $41.01 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. The firm has a fifty day moving average price of $43.77 and a 200 day moving average price of $47.23. Devon Energy Co. has a 1 year low of $39.02 and a 1 year high of $55.09. The stock has a market cap of $25.92 billion, a PE ratio of 7.83, a price-to-earnings-growth ratio of 1.13 and a beta of 2.03.

Devon Energy (NYSE:DVN) last issued its earnings results on Tuesday, August 6th. The energy company reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.15. The firm had revenue of $3.92 billion during the quarter, compared to analysts’ expectations of $3.90 billion. Devon Energy had a net margin of 22.60% and a return on equity of 29.14%. The firm’s revenue was up 13.4% compared to the same quarter last year. During the same quarter last year, the company posted $1.18 earnings per share. Equities research analysts predict that Devon Energy Co. will post 5.36 earnings per share for the current year.

Devon Energy Dividend Announcement

The company 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 dividend of $0.22 per share. The ex-dividend date is Friday, September 13th. This represents a $0.88 annualized dividend and a yield of 2.15%. Devon Energy’s dividend payout ratio is presently 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.