Signal Advisors Wealth LLC Buys 1,739 Shares of Devon Energy Co. (NYSE:DVN)

Signal Advisors Wealth LLC raised its stake in Devon Energy Co. (NYSE:DVN) by 25.8% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 8,475 shares of the energy company’s stock after buying an additional 1,739 shares during the period. Signal Advisors Wealth LLC’s holdings in Devon Energy were worth $277,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Geode Capital Management LLC grew its position in Devon Energy by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 15,892,970 shares of the energy company’s stock worth $619,747,000 after acquiring an additional 206,884 shares during the last quarter. EnCap Energy Capital Fund XI L.P. acquired a new stake in shares of Devon Energy during the third quarter valued at about $461,857,000. Pacer Advisors Inc. grew its holdings in shares of Devon Energy by 16.9% during the third quarter. Pacer Advisors Inc. now owns 11,591,168 shares of the energy company’s stock worth $453,446,000 after purchasing an additional 1,677,652 shares during the last quarter. EnCap Partners GP LLC acquired a new position in shares of Devon Energy in the third quarter valued at approximately $408,653,000. Finally, Victory Capital Management Inc. raised its holdings in Devon Energy by 3.8% in the 3rd quarter. Victory Capital Management Inc. now owns 9,971,343 shares of the energy company’s stock valued at $390,079,000 after buying an additional 361,968 shares during the last quarter. Institutional investors own 69.72% of the company’s stock.

Devon Energy Stock Up 3.4 %

Devon Energy stock opened at $38.45 on Thursday. The company has a current ratio of 1.11, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. The firm’s fifty day moving average price is $35.54 and its two-hundred day moving average price is $40.42. The firm has a market capitalization of $25.26 billion, a price-to-earnings ratio of 7.13, a price-to-earnings-growth ratio of 1.07 and a beta of 2.00. Devon Energy Co. has a 1-year low of $30.39 and a 1-year high of $55.09.

Devon Energy (NYSE:DVN) last released its quarterly earnings results on Tuesday, November 5th. The energy company reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.09 by $0.01. The business had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $3.72 billion. Devon Energy had a return on equity of 24.73% and a net margin of 21.71%. The company’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.65 EPS. On average, equities research analysts predict that Devon Energy Co. will post 4.79 earnings per share for the current fiscal year.

Devon Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Friday, December 13th were given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date was Friday, December 13th. Devon Energy’s payout ratio is currently 16.33%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Royal Bank of Canada restated a “sector perform” rating and issued a $50.00 price target on shares of Devon Energy in a research report on Friday, January 10th. Raymond James decreased their price objective on Devon Energy from $58.00 to $51.00 in a report on Tuesday, November 5th. TD Cowen cut their target price on Devon Energy from $54.00 to $46.00 and set a “hold” rating on the stock in a report on Tuesday, November 5th. StockNews.com upgraded Devon Energy from a “sell” rating to a “hold” rating in a research report on Friday, January 3rd. Finally, Citigroup decreased their target price on shares of Devon Energy from $55.00 to $48.00 and set a “buy” rating for the company in a research report on Tuesday, November 26th. Nine equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $49.27.

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.