Graham Capital Wealth Management LLC Invests $2.09 Million in Devon Energy Co. (NYSE:DVN)

Graham Capital Wealth Management LLC acquired a new position in shares of Devon Energy Co. (NYSE:DVN) in the 4th quarter, Holdings Channel reports. The fund acquired 63,925 shares of the energy company’s stock, valued at approximately $2,092,000. Devon Energy makes up 1.9% of Graham Capital Wealth Management LLC’s investment portfolio, making the stock its 28th biggest position.

Several other institutional investors and hedge funds also recently modified their holdings of DVN. Capital Performance Advisors LLP acquired a new position in shares of Devon Energy during the third quarter worth about $35,000. Future Financial Wealth Managment LLC acquired a new position in shares of Devon Energy during the third quarter worth about $39,000. True Wealth Design LLC boosted its position in shares of Devon Energy by 3,889.3% during the third quarter. True Wealth Design LLC now owns 1,117 shares of the energy company’s stock worth $44,000 after buying an additional 1,089 shares during the period. Hazlett Burt & Watson Inc. boosted its position in shares of 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 buying an additional 290 shares during the period. Finally, Activest Wealth Management boosted its position in shares of 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 buying an additional 480 shares during the period. 69.72% of the stock is owned by institutional investors and hedge funds.

Devon Energy Price Performance

Shares of NYSE DVN opened at $34.09 on Monday. The firm has a market cap of $22.39 billion, a P/E ratio of 6.32, a price-to-earnings-growth ratio of 1.07 and a beta of 1.98. The company has a current ratio of 1.11, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. Devon Energy Co. has a 1-year low of $30.39 and a 1-year high of $55.09. The business’s 50 day moving average is $34.89 and its 200-day moving average is $39.41.

Devon Energy (NYSE:DVN) last posted its quarterly earnings data on Tuesday, November 5th. The energy company reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $0.01. Devon Energy had a return on equity of 24.73% and a net margin of 21.71%. The firm had revenue of $4.02 billion for the quarter, compared to analyst estimates of $3.72 billion. During the same quarter last year, the company earned $1.65 EPS. The company’s revenue was up 4.9% on a year-over-year basis. Equities research analysts predict that Devon Energy Co. will post 4.68 earnings per share for the current year.

Devon Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Friday, December 13th were paid a dividend of $0.22 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.88 dividend on an annualized basis and a yield of 2.58%. Devon Energy’s dividend payout ratio (DPR) is presently 16.33%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on DVN shares. Raymond James upped their price objective on Devon Energy from $53.00 to $54.00 and gave the stock an “outperform” rating in a research report on Thursday, January 23rd. Mizuho reduced their price target on Devon Energy from $51.00 to $47.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. Susquehanna reduced their price target on Devon Energy from $63.00 to $62.00 and set a “positive” rating for the company in a research report on Friday, October 18th. Sanford C. Bernstein raised Devon Energy from a “market perform” rating to an “outperform” rating and set a $45.00 price target for the company in a research report on Wednesday, January 15th. Finally, Citigroup cut their price objective on Devon Energy from $55.00 to $48.00 and set a “buy” rating for the company in a research report on Tuesday, November 26th. Nine investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $49.45.

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.