Ashton Thomas Private Wealth LLC Makes New $117,000 Investment in Devon Energy Co. (NYSE:DVN)

Ashton Thomas Private Wealth LLC purchased a new position in shares of Devon Energy Co. (NYSE:DVN) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 2,459 shares of the energy company’s stock, valued at approximately $117,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in DVN. Triad Wealth Partners LLC bought a new stake in shares of Devon Energy in the 2nd quarter valued at about $27,000. Tradewinds Capital Management LLC bought a new position in Devon Energy in the 1st quarter valued at about $30,000. Manchester Capital Management LLC bought a new position in Devon Energy in the 4th quarter valued at about $28,000. 1620 Investment Advisors Inc. bought a new position in Devon Energy in the 2nd quarter valued at about $34,000. Finally, Jones Financial Companies Lllp raised its holdings in Devon Energy by 104.8% in the 4th 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 period. 69.72% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on DVN. Susquehanna lowered 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. BMO Capital Markets raised shares of Devon Energy to a “strong-buy” rating in a report on Wednesday, July 3rd. JPMorgan Chase & Co. lowered their price target on shares of Devon Energy from $64.00 to $51.00 and set an “overweight” rating on the stock in a report on Thursday. Scotiabank decreased their target price on shares of Devon Energy from $67.00 to $60.00 and set a “sector outperform” rating on the stock in a research report on Friday, July 12th. Finally, Morgan Stanley increased their target price on shares of Devon Energy from $52.00 to $54.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 9th. Six investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $57.81.

Devon Energy Stock Performance

Shares of Devon Energy stock opened at $39.45 on Friday. Devon Energy Co. has a fifty-two week low of $39.02 and a fifty-two week high of $55.09. 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 market capitalization of $24.93 billion, a P/E ratio of 7.53, a P/E/G ratio of 1.13 and a beta of 2.03. The company’s 50 day moving average price is $44.64 and its two-hundred day moving average price is $47.41.

Devon Energy (NYSE:DVN) last issued its earnings results on Tuesday, August 6th. The energy company reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.15. Devon Energy had a net margin of 22.60% and a return on equity of 29.14%. The firm had revenue of $3.92 billion for the quarter, compared to analyst estimates of $3.90 billion. During the same quarter last year, the business posted $1.18 earnings per share. The company’s quarterly revenue was up 13.4% on a year-over-year basis. On average, equities analysts forecast that Devon Energy Co. will post 5.36 earnings per share for the current fiscal year.

Devon Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.23%. The ex-dividend date is Friday, September 13th. Devon Energy’s payout ratio is currently 16.79%.

About Devon Energy

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.