KMG Fiduciary Partners LLC Acquires 1,613 Shares of Devon Energy Co. (NYSE:DVN)

KMG Fiduciary Partners LLC lifted its stake in shares of Devon Energy Co. (NYSE:DVN) by 4.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,900 shares of the energy company’s stock after purchasing an additional 1,613 shares during the quarter. KMG Fiduciary Partners LLC’s holdings in Devon Energy were worth $1,404,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Salem Investment Counselors Inc. increased its stake in shares of Devon Energy by 31.4% in the first quarter. Salem Investment Counselors Inc. now owns 832 shares of the energy company’s stock worth $42,000 after purchasing an additional 199 shares in the last quarter. Retirement Group LLC raised its position in shares of Devon Energy by 21.8% in the first quarter. Retirement Group LLC now owns 1,110 shares of the energy company’s stock worth $56,000 after buying an additional 199 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its stake in Devon Energy by 7.4% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 3,046 shares of the energy company’s stock valued at $153,000 after buying an additional 209 shares during the period. MCF Advisors LLC increased its stake in Devon Energy by 5.6% in the 1st quarter. MCF Advisors LLC now owns 4,023 shares of the energy company’s stock worth $202,000 after acquiring an additional 215 shares during the last quarter. Finally, Annex Advisory Services LLC raised its holdings in shares of Devon Energy by 0.8% in the 2nd quarter. Annex Advisory Services LLC now owns 27,651 shares of the energy company’s stock valued at $1,311,000 after acquiring an additional 223 shares in the last quarter. Institutional investors own 69.72% of the company’s stock.

Analyst Ratings Changes

DVN has been the topic of several research analyst reports. Benchmark restated a “hold” rating on shares of Devon Energy in a research report on Tuesday, October 15th. Jefferies Financial Group assumed coverage on shares of Devon Energy in a research report on Thursday, October 3rd. They set a “hold” rating and a $45.00 price objective on the stock. Morgan Stanley cut their target price on shares of Devon Energy from $55.00 to $51.00 and set an “overweight” rating for the company in a research report on Monday, September 16th. Barclays lowered their price target on Devon Energy from $55.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 3rd. Finally, Scotiabank cut their price objective on Devon Energy from $60.00 to $48.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Nine equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $52.53.

Devon Energy Trading Up 0.2 %

NYSE DVN opened at $40.66 on Friday. The stock has a market cap of $25.70 billion, a P/E ratio of 7.76, a price-to-earnings-growth ratio of 1.27 and a beta of 2.02. Devon Energy Co. has a fifty-two week low of $37.76 and a fifty-two week high of $55.09. The stock has a 50 day simple moving average of $42.15 and a two-hundred day simple moving average of $46.28. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.03 and a current ratio of 1.11.

Devon Energy (NYSE:DVN) last announced its quarterly 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 company had revenue of $3.92 billion during the quarter, compared to analyst estimates of $3.90 billion. Devon Energy had a return on equity of 29.14% and a net margin of 22.60%. The firm’s revenue was up 13.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.18 earnings per share. On average, analysts forecast that Devon Energy Co. will post 5.01 earnings per share for the current year.

Devon Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date of this dividend was Friday, September 13th. Devon Energy’s payout ratio is 16.79%.

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.