Devon Energy Co. (NYSE:DVN) Shares Bought by Larson Financial Group LLC

Larson Financial Group LLC boosted its stake in shares of Devon Energy Co. (NYSE:DVN) by 28.9% in the fourth quarter, Holdings Channel reports. The fund owned 61,695 shares of the energy company’s stock after purchasing an additional 13,816 shares during the period. Larson Financial Group LLC’s holdings in Devon Energy were worth $2,019,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP acquired a new stake in Devon Energy during the 3rd quarter worth approximately $35,000. Cromwell Holdings LLC lifted its position in Devon Energy by 98.0% during the 4th quarter. Cromwell Holdings LLC now owns 1,208 shares of the energy company’s stock worth $40,000 after acquiring an additional 598 shares during the period. Sierra Ocean LLC acquired a new stake in Devon Energy during the 4th quarter worth approximately $43,000. True Wealth Design LLC lifted its position 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 acquiring an additional 1,089 shares during the period. Finally, Activest Wealth Management lifted its position in Devon Energy by 60.4% during the 3rd quarter. Activest Wealth Management now owns 1,275 shares of the energy company’s stock worth $50,000 after acquiring an additional 480 shares during the period. 69.72% of the stock is owned by institutional investors and hedge funds.

Devon Energy Stock Performance

Devon Energy stock opened at $34.74 on Friday. 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 has a fifty day moving average of $35.24 and a two-hundred day moving average of $37.68. The company has a market capitalization of $22.54 billion, a price-to-earnings ratio of 7.62, a PEG ratio of 1.20 and a beta of 1.91. Devon Energy Co. has a fifty-two week low of $30.39 and a fifty-two week high of $55.09.

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

Devon Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a dividend of $0.24 per share. This is an increase from Devon Energy’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.96 annualized dividend and a yield of 2.76%. Devon Energy’s dividend payout ratio (DPR) is presently 21.05%.

Analyst Ratings Changes

A number of research firms have weighed in on DVN. Benchmark reaffirmed a “buy” rating and set a $44.00 price objective on shares of Devon Energy in a research report on Thursday, February 20th. Mizuho reduced their price target on Devon Energy from $51.00 to $47.00 and set an “outperform” rating for the company in a report on Monday, December 16th. JPMorgan Chase & Co. cut Devon Energy from an “overweight” rating to a “neutral” rating and set a $43.00 price target for the company. in a report on Thursday, December 5th. Raymond James raised their price target on Devon Energy from $53.00 to $54.00 and gave the company an “outperform” rating in a report on Thursday, January 23rd. Finally, Wells Fargo & Company reduced their price target on Devon Energy from $49.00 to $43.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th. Ten equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $48.87.

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.