Citizens National Bank Trust Department Buys 4,725 Shares of Devon Energy Co. (NYSE:DVN)

Citizens National Bank Trust Department grew its stake in shares of Devon Energy Co. (NYSE:DVN) by 21.7% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 26,489 shares of the energy company’s stock after purchasing an additional 4,725 shares during the quarter. Citizens National Bank Trust Department’s holdings in Devon Energy were worth $1,036,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. William B. Walkup & Associates Inc. bought a new stake in shares of Devon Energy during the second quarter valued at approximately $1,026,000. Gordian Capital Singapore Pte Ltd bought a new stake in shares of Devon Energy during the second quarter valued at approximately $711,000. New York State Teachers Retirement System increased its position in Devon Energy by 14.2% in the third quarter. New York State Teachers Retirement System now owns 704,831 shares of the energy company’s stock worth $27,573,000 after purchasing an additional 87,462 shares during the last quarter. CWM LLC increased its position in Devon Energy by 73.4% in the third quarter. CWM LLC now owns 38,969 shares of the energy company’s stock worth $1,524,000 after purchasing an additional 16,490 shares during the last quarter. Finally, J.W. Cole Advisors Inc. increased its position in Devon Energy by 11.9% in the third quarter. J.W. Cole Advisors Inc. now owns 120,800 shares of the energy company’s stock worth $4,726,000 after purchasing an additional 12,882 shares during the last quarter. Institutional investors own 69.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on DVN shares. Benchmark restated a “hold” rating on shares of Devon Energy in a research report on Tuesday, October 15th. Susquehanna reduced their price target on shares of Devon Energy from $63.00 to $62.00 and set a “positive” rating on the stock in a research report on Friday, October 18th. UBS Group reduced 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 report on Wednesday, September 18th. Wolfe Research assumed coverage on shares of Devon Energy in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $57.00 price objective on shares of Devon Energy in a research report on Tuesday, September 3rd. Nine research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $52.53.

Devon Energy Stock Down 0.9 %

NYSE:DVN opened at $38.32 on Monday. The firm has a market cap of $24.00 billion, a PE ratio of 6.95, a price-to-earnings-growth ratio of 1.19 and a beta of 2.03. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.11 and a quick ratio of 1.03. The company has a 50-day moving average of $41.04 and a 200 day moving average of $45.28. Devon Energy Co. has a 1-year low of $37.76 and a 1-year high of $55.09.

Devon Energy (NYSE:DVN) last announced its 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 business had revenue of $3.92 billion during the quarter, compared to the consensus estimate of $3.90 billion. Devon Energy had a net margin of 22.60% and a return on equity of 29.14%. The firm’s revenue was up 13.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.18 earnings per share. As a group, research analysts anticipate that Devon Energy Co. will post 4.93 EPS for the current fiscal year.

Devon Energy Dividend Announcement

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

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.