Devon Energy Co. (NYSE:DVN) Stock Holdings Boosted by Straight Path Wealth Management

Straight Path Wealth Management lifted its stake in shares of Devon Energy Co. (NYSE:DVN) by 238.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,900 shares of the energy company’s stock after acquiring an additional 11,200 shares during the quarter. Straight Path Wealth Management’s holdings in Devon Energy were worth $622,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of DVN. Triad Wealth Partners LLC bought a new stake in shares of Devon Energy during the 2nd quarter worth $27,000. 1620 Investment Advisors Inc. acquired a new stake in shares of Devon Energy in the second quarter worth $34,000. Capital Performance Advisors LLP acquired a new stake in shares of Devon Energy in the third quarter worth $35,000. PSI Advisors LLC boosted its position in shares of 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 buying an additional 300 shares during the period. Finally, LRI Investments LLC acquired a new stake in shares of Devon Energy in the first quarter worth $39,000. 69.72% of the stock is owned by institutional investors.

Devon Energy Trading Down 2.3 %

NYSE DVN traded down $0.91 during mid-day trading on Friday, reaching $38.47. 6,725,321 shares of the stock were exchanged, compared to its average volume of 7,432,099. Devon Energy Co. has a one year low of $37.76 and a one year high of $55.09. The stock has a 50 day simple moving average of $40.09 and a 200-day simple moving average of $44.41. The stock has a market cap of $25.27 billion, a P/E ratio of 7.14, a P/E/G ratio of 1.22 and a beta of 2.03. 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 earnings per share for the quarter, topping analysts’ consensus estimates of $1.09 by $0.01. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%. The business had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $3.72 billion. During the same quarter last year, the firm earned $1.65 earnings per share. Devon Energy’s quarterly revenue was up 4.9% on a year-over-year basis. On average, analysts anticipate that Devon Energy Co. will post 4.84 EPS for the current year.

Devon Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date is Friday, December 13th. Devon Energy’s payout ratio is 16.33%.

Analysts Set New Price Targets

Several analysts recently issued reports on DVN shares. StockNews.com lowered Devon Energy from a “hold” rating to a “sell” rating in a report on Thursday, November 7th. Jefferies Financial Group started coverage on Devon Energy in a report on Thursday, October 3rd. They set a “hold” rating and a $45.00 price objective for the company. Morgan Stanley cut their price objective on Devon Energy from $55.00 to $51.00 and set an “overweight” rating for the company in a report on Monday, September 16th. TD Cowen cut 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. Finally, Wells Fargo & Company cut their price objective on Devon Energy from $50.00 to $49.00 and set an “overweight” rating for the company in a report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, Devon Energy presently has an average rating of “Hold” and an average target price of $51.80.

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.