Brighton Jones LLC Has $1.66 Million Holdings in Devon Energy Co. (NYSE:DVN)

Brighton Jones LLC increased its position in shares of Devon Energy Co. (NYSE:DVN) by 0.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 42,510 shares of the energy company’s stock after buying an additional 310 shares during the period. Brighton Jones LLC’s holdings in Devon Energy were worth $1,663,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. 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 stake in Devon Energy in the first quarter valued at approximately $30,000. 1620 Investment Advisors Inc. acquired a new stake in shares of Devon Energy in the second quarter valued at approximately $34,000. PSI Advisors LLC boosted its stake in shares of Devon Energy by 66.7% during the 2nd quarter. PSI Advisors LLC now owns 750 shares of the energy company’s stock worth $36,000 after acquiring an additional 300 shares during the period. Finally, LRI Investments LLC acquired a new position in shares of Devon Energy during the 1st quarter worth approximately $39,000. 69.72% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Scotiabank reduced their price objective on shares of Devon Energy from $60.00 to $48.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. JPMorgan Chase & Co. decreased their price target on shares of Devon Energy from $64.00 to $51.00 and set an “overweight” rating on the stock in a research note on Thursday, September 12th. Sanford C. Bernstein cut their price objective on shares of Devon Energy from $48.00 to $43.00 and set a “market perform” rating for the company in a research report on Wednesday, July 17th. Susquehanna decreased their target price on Devon Energy from $63.00 to $62.00 and set a “positive” rating on the stock in a research report on Friday, October 18th. Finally, Benchmark reiterated a “hold” rating on shares of Devon Energy in a research note on Tuesday, October 15th. Nine 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.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $52.53.

Devon Energy Stock Performance

Shares of NYSE:DVN opened at $39.51 on Friday. The company’s 50 day simple moving average is $41.74 and its 200 day simple moving average is $45.96. 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 1 year low of $37.76 and a 1 year high of $55.09. The stock has a market capitalization of $24.97 billion, a price-to-earnings ratio of 7.54, a price-to-earnings-growth ratio of 1.27 and a beta of 2.02.

Devon Energy (NYSE:DVN) last posted its quarterly earnings results on Tuesday, August 6th. The energy company reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.15. The company had revenue of $3.92 billion during the quarter, compared to analysts’ expectations 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 was up 13.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.18 EPS. As a group, research analysts predict that Devon Energy Co. will post 5.01 EPS for the current fiscal year.

Devon Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were issued 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 was Friday, September 13th. Devon Energy’s dividend payout ratio (DPR) is presently 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.