J.W. Cole Advisors Inc. Grows Stock Holdings in Devon Energy Co. (NYSE:DVN)

J.W. Cole Advisors Inc. increased its stake in shares of Devon Energy Co. (NYSE:DVN) by 11.9% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 120,800 shares of the energy company’s stock after purchasing an additional 12,882 shares during the period. J.W. Cole Advisors Inc.’s holdings in Devon Energy were worth $4,726,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Triad Wealth Partners LLC purchased a new stake in Devon Energy during the second quarter valued at approximately $27,000. Tradewinds Capital Management LLC purchased a new stake in Devon Energy during the first quarter valued at approximately $30,000. 1620 Investment Advisors Inc. purchased a new stake in Devon Energy during the second quarter valued at approximately $34,000. 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 purchasing an additional 300 shares during the period. Finally, LRI Investments LLC bought a new position in shares of Devon Energy in the first quarter worth approximately $39,000. 69.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Truist Financial dropped their price target on shares of Devon Energy from $60.00 to $49.00 and set a “buy” rating for the company in a research report on Monday, September 30th. StockNews.com lowered shares of Devon Energy from a “buy” rating to a “hold” rating in a research report on Monday, September 2nd. Wolfe Research assumed coverage on shares of Devon Energy in a research report on Thursday, July 18th. They issued a “peer perform” rating for the company. UBS Group dropped their price target on shares of Devon Energy from $53.00 to $47.00 and set a “neutral” rating for the company in a research report on Wednesday, September 18th. Finally, BMO Capital Markets dropped their price target on shares of Devon Energy from $52.00 to $48.00 and set an “outperform” rating for the company in a research report on Friday, October 4th. Nine equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $52.53.

Devon Energy Price Performance

DVN stock traded down $0.32 during trading on Friday, hitting $39.19. 9,322,139 shares of the company’s stock traded hands, compared to its average volume of 9,281,782. Devon Energy Co. has a 52 week low of $37.76 and a 52 week high of $55.09. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.03 and a current ratio of 1.11. The business has a fifty day simple moving average of $41.62 and a 200 day simple moving average of $45.80. The stock has a market capitalization of $24.54 billion, a price-to-earnings ratio of 7.11, a P/E/G ratio of 1.22 and a beta of 2.02.

Devon Energy (NYSE:DVN) last released its quarterly earnings data on Tuesday, August 6th. The energy company reported $1.41 EPS for the quarter, beating the consensus estimate of $1.26 by $0.15. Devon Energy had a net margin of 22.60% and a return on equity of 29.14%. The business had revenue of $3.92 billion during the quarter, compared to analyst estimates of $3.90 billion. During the same quarter last year, the business earned $1.18 earnings per share. Devon Energy’s quarterly revenue was up 13.4% compared to the same quarter last year. As a group, research analysts expect that Devon Energy Co. will post 4.98 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. Stockholders of record on Friday, September 13th were paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.25%. The ex-dividend date was Friday, September 13th. Devon Energy’s dividend payout ratio is currently 15.97%.

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.