Devon Energy Co. (NYSE:DVN) Shares Acquired by Horizon Advisory Services Inc.

Horizon Advisory Services Inc. grew its holdings in Devon Energy Co. (NYSE:DVN) by 42.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,599 shares of the energy company’s stock after buying an additional 2,279 shares during the quarter. Horizon Advisory Services Inc.’s holdings in Devon Energy were worth $249,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Capital Performance Advisors LLP acquired a new stake in shares of Devon Energy in the 3rd quarter valued at approximately $35,000. True Wealth Design LLC lifted its holdings in shares of Devon Energy by 3,889.3% in the 3rd quarter. True Wealth Design LLC now owns 1,117 shares of the energy company’s stock valued at $44,000 after buying an additional 1,089 shares during the period. Cromwell Holdings LLC raised its holdings in Devon Energy by 98.0% during the fourth quarter. Cromwell Holdings LLC now owns 1,208 shares of the energy company’s stock worth $40,000 after purchasing an additional 598 shares during the last quarter. Hazlett Burt & Watson Inc. raised its holdings in Devon Energy by 29.8% during the third quarter. Hazlett Burt & Watson Inc. now owns 1,263 shares of the energy company’s stock worth $49,000 after purchasing an additional 290 shares during the last quarter. Finally, Activest Wealth Management raised its holdings in Devon Energy by 60.4% during the third quarter. Activest Wealth Management now owns 1,275 shares of the energy company’s stock worth $50,000 after purchasing an additional 480 shares during the last quarter. 69.72% of the stock is owned by institutional investors and hedge funds.

Devon Energy Price Performance

Shares of NYSE:DVN opened at $37.27 on Tuesday. The company has a market cap of $24.18 billion, a P/E ratio of 8.17, a P/E/G ratio of 1.20 and a beta of 1.98. The company has a quick ratio of 1.01, a current ratio of 1.04 and a debt-to-equity ratio of 0.57. Devon Energy Co. has a 52 week low of $30.39 and a 52 week high of $55.09. The business has a fifty day simple moving average of $34.57 and a 200-day simple moving average of $38.26.

Devon Energy (NYSE:DVN) last announced its quarterly earnings data on Tuesday, February 18th. The energy company reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.16. Devon Energy had a return on equity of 22.52% and a net margin of 18.14%. The business had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.25 billion. Equities research analysts forecast that Devon Energy Co. will post 4.85 EPS for the current year.

Devon Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 2.58%. The ex-dividend date of this dividend is Friday, March 14th. This is an increase from Devon Energy’s previous quarterly dividend of $0.22. Devon Energy’s payout ratio is 21.05%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Citigroup reduced their price objective on Devon Energy from $55.00 to $48.00 and set a “buy” rating for the company in a report on Tuesday, November 26th. Susquehanna lifted their price objective on Devon Energy from $50.00 to $52.00 and gave the stock a “positive” rating in a report on Thursday, February 20th. JPMorgan Chase & Co. cut Devon Energy from an “overweight” rating to a “neutral” rating and set a $43.00 price objective for the company. in a report on Thursday, December 5th. Cowen cut Devon Energy to a “hold” rating and reduced their price objective for the stock from $46.00 to $45.00 in a report on Tuesday, February 18th. Finally, TD Cowen reduced their price objective on Devon Energy from $54.00 to $46.00 and set a “hold” rating for the company in a report on Tuesday, November 5th. Ten research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $48.87.

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.