Prospera Financial Services Inc Has $893,000 Stock Position in Devon Energy Co. (NYSE:DVN)

Prospera Financial Services Inc boosted its stake in Devon Energy Co. (NYSE:DVN) by 20.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 22,813 shares of the energy company’s stock after purchasing an additional 3,867 shares during the quarter. Prospera Financial Services Inc’s holdings in Devon Energy were worth $893,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Annex Advisory Services LLC grew 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 valued at $1,311,000 after buying an additional 223 shares during the period. Versant Capital Management Inc increased its holdings in shares of Devon Energy by 30.4% in the second quarter. Versant Capital Management Inc now owns 970 shares of the energy company’s stock worth $46,000 after acquiring an additional 226 shares in the last quarter. Archer Investment Corp raised its position in shares of Devon Energy by 2.8% during the second quarter. Archer Investment Corp now owns 8,535 shares of the energy company’s stock worth $405,000 after purchasing an additional 235 shares during the period. Citizens Financial Group Inc. RI lifted its holdings in shares of Devon Energy by 2.6% during the 1st quarter. Citizens Financial Group Inc. RI now owns 9,480 shares of the energy company’s stock valued at $476,000 after purchasing an additional 236 shares in the last quarter. Finally, Institute for Wealth Management LLC. increased its stake in Devon Energy by 4.0% during the 2nd quarter. Institute for Wealth Management LLC. now owns 6,234 shares of the energy company’s stock worth $296,000 after purchasing an additional 237 shares in the last quarter. Institutional investors and hedge funds own 69.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on DVN. UBS Group cut their price target on shares of Devon Energy from $53.00 to $47.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 18th. Susquehanna reduced their target price on shares of Devon Energy from $63.00 to $62.00 and set a “positive” rating for the company in a research note on Friday, October 18th. TD Cowen dropped their price target on Devon Energy from $54.00 to $46.00 and set a “hold” rating on the stock in a research note on Tuesday, November 5th. Evercore ISI reduced their price objective on Devon Energy from $55.00 to $50.00 and set an “in-line” rating for the company in a research report on Monday, September 30th. Finally, Mizuho dropped their target price on Devon Energy from $53.00 to $51.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, Devon Energy has an average rating of “Hold” and an average price target of $51.85.

Devon Energy Trading Up 1.9 %

Shares of Devon Energy stock opened at $39.45 on Friday. Devon Energy Co. has a 1 year low of $37.76 and a 1 year high of $55.09. The company has a market capitalization of $25.91 billion, a price-to-earnings ratio of 7.32, a P/E/G ratio of 1.20 and a beta of 2.03. The business has a fifty day simple moving average of $39.94 and a two-hundred day simple moving average of $44.00. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.11 and a quick ratio of 1.01.

Devon Energy (NYSE:DVN) last announced its earnings results on Tuesday, November 5th. The energy company reported $1.10 EPS for the quarter, topping the consensus estimate 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 net margin of 21.71% and a return on equity of 24.73%. Devon Energy’s revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.65 EPS. Research analysts forecast that Devon Energy Co. will post 4.81 EPS for the current year.

Devon Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.23%. Devon Energy’s dividend payout ratio (DPR) is currently 16.33%.

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.