IFP Advisors Inc Has $1.36 Million Stake in Devon Energy Co. (NYSE:DVN)

IFP Advisors Inc boosted its holdings in Devon Energy Co. (NYSE:DVN) by 120.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 41,611 shares of the energy company’s stock after purchasing an additional 22,770 shares during the quarter. IFP Advisors Inc’s holdings in Devon Energy were worth $1,362,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Capital Performance Advisors LLP acquired a new position in shares of Devon Energy during the third quarter valued at about $35,000. Cromwell Holdings LLC lifted its position in Devon Energy by 98.0% in the 4th quarter. Cromwell Holdings LLC now owns 1,208 shares of the energy company’s stock valued at $40,000 after acquiring an additional 598 shares in the last quarter. Sierra Ocean LLC acquired a new position in Devon Energy during the 4th quarter valued at about $43,000. True Wealth Design LLC increased its holdings in Devon Energy by 3,889.3% during the 3rd quarter. True Wealth Design LLC now owns 1,117 shares of the energy company’s stock worth $44,000 after purchasing an additional 1,089 shares in the last quarter. Finally, Hazlett Burt & Watson Inc. raised its stake in shares of Devon Energy by 29.8% in 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. Institutional investors own 69.72% of the company’s stock.

Devon Energy Trading Down 1.5 %

Shares of Devon Energy stock opened at $35.36 on Thursday. The stock has a market capitalization of $22.95 billion, a P/E ratio of 7.75, a P/E/G ratio of 1.20 and a beta of 1.98. Devon Energy Co. has a 52-week low of $30.39 and a 52-week high of $55.09. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.01 and a current ratio of 1.04. The stock’s 50-day simple moving average is $34.73 and its 200 day simple moving average is $38.18.

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

Devon Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a $0.24 dividend. This is a positive change from Devon Energy’s previous quarterly dividend of $0.22. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date is Friday, March 14th. Devon Energy’s dividend payout ratio (DPR) is presently 21.05%.

Wall Street Analysts Forecast Growth

DVN has been the topic of several analyst reports. Susquehanna lifted their target price on Devon Energy from $50.00 to $52.00 and gave the company a “positive” rating in a research report on Thursday, February 20th. StockNews.com raised shares of Devon Energy from a “sell” rating to a “hold” rating in a report on Friday, January 3rd. Royal Bank of Canada reiterated a “sector perform” rating and issued a $50.00 target price on shares of Devon Energy in a research note on Friday, January 10th. JPMorgan Chase & Co. lowered shares of Devon Energy from an “overweight” rating to a “neutral” rating and set a $43.00 price target on the stock. in a research report on Thursday, December 5th. Finally, Benchmark reaffirmed a “buy” rating and issued a $44.00 price objective on shares of Devon Energy in a research report on Thursday, February 20th. Ten investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Devon Energy currently has an average rating of “Moderate Buy” and an average target price of $48.87.

Devon Energy Company 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.