Czech National Bank Increases Stock Position in Devon Energy Co. (NYSE:DVN)

Czech National Bank increased its position in shares of Devon Energy Co. (NYSE:DVN) by 5.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 127,563 shares of the energy company’s stock after purchasing an additional 7,129 shares during the quarter. Czech National Bank’s holdings in Devon Energy were worth $4,990,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in DVN. Salem Investment Counselors Inc. grew its holdings in shares of Devon Energy by 31.4% in the first quarter. Salem Investment Counselors Inc. now owns 832 shares of the energy company’s stock valued at $42,000 after acquiring an additional 199 shares in the last quarter. Retirement Group LLC grew its stake in Devon Energy by 21.8% in the 1st quarter. Retirement Group LLC now owns 1,110 shares of the energy company’s stock valued at $56,000 after purchasing an additional 199 shares during the period. Whittier Trust Co. of Nevada Inc. increased its position in shares of Devon Energy by 7.4% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 3,046 shares of the energy company’s stock valued at $153,000 after purchasing an additional 209 shares during the last quarter. MCF Advisors LLC raised its stake in shares of Devon Energy by 5.6% during the 1st quarter. MCF Advisors LLC now owns 4,023 shares of the energy company’s stock worth $202,000 after purchasing an additional 215 shares during the period. Finally, Annex Advisory Services LLC boosted its holdings in shares of Devon Energy by 0.8% in the 2nd quarter. Annex Advisory Services LLC now owns 27,651 shares of the energy company’s stock worth $1,311,000 after buying an additional 223 shares during the last quarter. 69.72% of the stock is owned by institutional investors.

Devon Energy Stock Up 0.2 %

DVN opened at $42.96 on Friday. 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 $37.76 and a one year high of $55.09. The firm has a market capitalization of $26.90 billion, a P/E ratio of 7.80, a price-to-earnings-growth ratio of 1.27 and a beta of 2.02. The company has a fifty day moving average price of $42.37 and a 200-day moving average price of $46.62.

Devon Energy (NYSE:DVN) last announced its earnings results on Tuesday, August 6th. The energy company reported $1.41 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.15. The business had revenue of $3.92 billion for the quarter, compared to analyst estimates of $3.90 billion. Devon Energy had a return on equity of 29.14% and a net margin of 22.60%. The company’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.18 EPS. Equities research analysts expect that Devon Energy Co. will post 5.01 earnings per share for the current fiscal year.

Devon Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date of this dividend was Friday, September 13th. Devon Energy’s dividend payout ratio is currently 15.97%.

Analysts Set New Price Targets

Several brokerages have commented on DVN. Mizuho lowered their price objective on shares of Devon Energy from $53.00 to $51.00 and set an “outperform” rating on the stock in a research report on Wednesday. Barclays dropped their price objective on Devon Energy from $55.00 to $46.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 3rd. Morgan Stanley decreased their target price on Devon Energy from $55.00 to $51.00 and set an “overweight” rating for the company in a research report on Monday, September 16th. Sanford C. Bernstein dropped their price target on Devon Energy from $48.00 to $43.00 and set a “market perform” rating on the stock in a research report on Wednesday, July 17th. Finally, StockNews.com lowered Devon Energy from a “buy” rating to a “hold” rating in a report on Monday, September 2nd. Eight research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $52.63.

Devon Energy Company 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.