Lmcg Investments LLC Grows Position in Devon Energy Co. (NYSE:DVN)

Lmcg Investments LLC increased its holdings in Devon Energy Co. (NYSE:DVN) by 7.6% during the 3rd quarter, HoldingsChannel reports. The firm owned 55,962 shares of the energy company’s stock after buying an additional 3,969 shares during the period. Lmcg Investments LLC’s holdings in Devon Energy were worth $2,189,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Triad Wealth Partners LLC bought a new stake in Devon Energy in the second quarter worth $27,000. 1620 Investment Advisors Inc. bought a new stake in Devon Energy in the second quarter worth $34,000. PSI Advisors LLC increased its position in Devon Energy by 66.7% in the second quarter. PSI Advisors LLC now owns 750 shares of the energy company’s stock worth $36,000 after purchasing an additional 300 shares during the last quarter. LRI Investments LLC bought a new stake in Devon Energy in the first quarter worth $39,000. Finally, Manchester Capital Management LLC increased its position in Devon Energy by 40.9% in the first quarter. Manchester Capital Management LLC now owns 861 shares of the energy company’s stock worth $43,000 after purchasing an additional 250 shares during the last quarter. Institutional investors own 69.72% of the company’s stock.

Analyst Ratings Changes

DVN has been the topic of several research reports. Benchmark restated a “hold” rating on shares of Devon Energy in a research report on Tuesday, October 15th. Mizuho cut their price objective on shares of Devon Energy from $53.00 to $51.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 9th. Wells Fargo & Company reiterated a “sector outperform” rating on shares of Devon Energy in a research report on Friday, October 18th. Scotiabank cut their price objective on shares of Devon Energy from $60.00 to $48.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Finally, Morgan Stanley cut their price objective on shares of Devon Energy from $55.00 to $51.00 and set an “overweight” rating on the stock in a research report on Monday, September 16th. Nine analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $52.53.

Devon Energy Stock Down 0.9 %

NYSE:DVN traded down $0.36 during mid-day trading on Friday, reaching $38.32. The company’s stock had a trading volume of 6,921,517 shares, compared to its average volume of 7,328,332. Devon Energy Co. has a 1 year low of $37.76 and a 1 year high of $55.09. The stock has a fifty day moving average of $41.04 and a 200-day moving average of $45.33. The firm has a market capitalization of $24.00 billion, a PE ratio of 6.95, a price-to-earnings-growth ratio of 1.18 and a beta of 2.02. The company has a quick ratio of 1.03, a current ratio of 1.11 and a debt-to-equity ratio of 0.45.

Devon Energy (NYSE:DVN) last released its quarterly earnings data on Tuesday, August 6th. The energy company reported $1.41 earnings per share for the quarter, topping 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 company had revenue of $3.92 billion during the quarter, compared to analyst estimates of $3.90 billion. During the same period in the prior year, the firm earned $1.18 earnings per share. The firm’s revenue for the quarter was up 13.4% compared to the same quarter last year. Equities research analysts forecast that Devon Energy Co. will post 4.93 earnings per share for the current year.

Devon Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.30%. The ex-dividend date was Friday, September 13th. Devon Energy’s payout ratio is 15.97%.

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.