Kerusso Capital Management LLC Purchases New Holdings in Devon Energy Co. (NYSE:DVN)

Kerusso Capital Management LLC acquired a new position in shares of Devon Energy Co. (NYSE:DVN) during the 2nd quarter, Holdings Channel reports. The firm acquired 53,439 shares of the energy company’s stock, valued at approximately $2,533,000. Devon Energy accounts for about 1.8% of Kerusso Capital Management LLC’s investment portfolio, making the stock its 27th biggest position.

Other institutional investors also recently made changes to their positions in the company. Creekmur Asset Management LLC bought a new stake in shares of Devon Energy in the fourth quarter worth $791,000. Wahed Invest LLC increased its position in shares of Devon Energy by 6.3% in the 4th quarter. Wahed Invest LLC now owns 10,944 shares of the energy company’s stock worth $496,000 after purchasing an additional 648 shares during the last quarter. Tradewinds Capital Management LLC acquired a new stake in shares of Devon Energy in the 1st quarter valued at about $30,000. MCF Advisors LLC lifted its position in shares of Devon Energy by 5.6% during the first quarter. MCF Advisors LLC now owns 4,023 shares of the energy company’s stock worth $202,000 after purchasing an additional 215 shares during the last quarter. Finally, Principal Securities Inc. bought a new position in shares of Devon Energy during the fourth quarter worth about $702,000. 69.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on DVN. Wolfe Research initiated coverage on Devon Energy in a report on Thursday, July 18th. They issued a “peer perform” rating for the company. Mizuho upped their price target on Devon Energy from $57.00 to $61.00 and gave the company a “buy” rating in a research report on Monday, May 13th. Sanford C. Bernstein reduced their price objective on Devon Energy from $48.00 to $43.00 and set a “market perform” rating on the stock in a research note on Wednesday, July 17th. Susquehanna lowered their target price on shares of Devon Energy from $65.00 to $63.00 and set a “positive” rating for the company in a research note on Wednesday. Finally, Scotiabank reduced their price target 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. 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 company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $58.63.

Devon Energy Stock Down 1.8 %

Shares of Devon Energy stock opened at $41.34 on Friday. 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 $40.47 and a 1-year high of $55.09. The business’s fifty day moving average price is $45.39 and its two-hundred day moving average price is $47.56. The company has a market capitalization of $26.13 billion, a P/E ratio of 7.89, a PEG ratio of 1.26 and a beta of 2.03.

Devon Energy (NYSE:DVN) last posted its quarterly earnings data on Tuesday, August 6th. The energy company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.15. Devon Energy had a net margin of 22.60% and a return on equity of 29.14%. The business had revenue of $3.92 billion during the quarter, compared to analysts’ expectations of $3.90 billion. During the same period last year, the firm posted $1.18 earnings per share. The business’s revenue was up 13.4% on a year-over-year basis. As a group, research analysts forecast that Devon Energy Co. will post 5.37 EPS for the current year.

Devon Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 2.13%. The ex-dividend date is Friday, September 13th. Devon Energy’s dividend payout ratio (DPR) is presently 16.79%.

Devon Energy Company 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.