Capital Investment Advisors LLC Increases Holdings in Devon Energy Co. (NYSE:DVN)

Capital Investment Advisors LLC increased its stake in Devon Energy Co. (NYSE:DVN) by 5.5% during the third quarter, according to its most recent filing with the SEC. The fund owned 7,756 shares of the energy company’s stock after buying an additional 406 shares during the quarter. Capital Investment Advisors LLC’s holdings in Devon Energy were worth $303,000 at the end of the most recent quarter.

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

Devon Energy Trading Down 1.4 %

Shares of DVN stock opened at $40.08 on Tuesday. The business has a 50-day moving average price of $42.15 and a two-hundred day moving average price of $46.23. Devon Energy Co. has a 12-month low of $37.76 and a 12-month high of $55.09. The company has a quick ratio of 1.03, a current ratio of 1.11 and a debt-to-equity ratio of 0.45. The firm has a market cap of $25.33 billion, a P/E ratio of 7.65, a price-to-earnings-growth ratio of 1.27 and a beta of 2.02.

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 business had revenue of $3.92 billion during 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%. Devon Energy’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.18 earnings per share. Equities analysts anticipate that Devon Energy Co. will post 5.01 EPS for the current fiscal year.

Devon Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date was Friday, September 13th. Devon Energy’s payout ratio is presently 16.79%.

Analysts Set New Price Targets

Several brokerages recently weighed in on DVN. StockNews.com lowered Devon Energy from a “buy” rating to a “hold” rating in a report on Monday, September 2nd. Wells Fargo & Company reissued a “sector outperform” rating on shares of Devon Energy in a research report on Friday. Barclays cut their price objective on shares of Devon Energy from $55.00 to $46.00 and set an “equal weight” rating for the company in a report on Thursday, October 3rd. Susquehanna lowered their target price on shares of Devon Energy from $63.00 to $62.00 and set a “positive” rating on the stock in a report on Friday. Finally, Wolfe Research started coverage on Devon Energy in a report on Thursday, July 18th. They issued a “peer perform” rating for the company. Nine 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, Devon Energy currently has an average rating of “Moderate Buy” and a consensus target price of $52.53.

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.