Larson Financial Group LLC Purchases 2,329 Shares of Devon Energy Co. (NYSE:DVN)

Larson Financial Group LLC raised its position in shares of Devon Energy Co. (NYSE:DVN) by 5.1% during the third quarter, HoldingsChannel reports. The fund owned 47,879 shares of the energy company’s stock after acquiring an additional 2,329 shares during the quarter. Larson Financial Group LLC’s holdings in Devon Energy were worth $1,873,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the company. Pacer Advisors Inc. grew its holdings in shares of Devon Energy by 16.9% in the third quarter. Pacer Advisors Inc. now owns 11,591,168 shares of the energy company’s stock worth $453,446,000 after purchasing an additional 1,677,652 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of Devon Energy by 3.8% in the third quarter. Victory Capital Management Inc. now owns 9,971,343 shares of the energy company’s stock worth $390,079,000 after purchasing an additional 361,968 shares during the last quarter. Raymond James & Associates grew its holdings in shares of Devon Energy by 1.5% in the second quarter. Raymond James & Associates now owns 9,183,778 shares of the energy company’s stock worth $435,311,000 after purchasing an additional 138,919 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Devon Energy by 16.7% in the second quarter. Dimensional Fund Advisors LP now owns 8,793,217 shares of the energy company’s stock worth $416,779,000 after purchasing an additional 1,255,543 shares during the last quarter. Finally, Smead Capital Management Inc. grew its holdings in shares of Devon Energy by 3.5% in the third quarter. Smead Capital Management Inc. now owns 5,879,516 shares of the energy company’s stock worth $230,007,000 after purchasing an additional 198,193 shares during the last quarter. Institutional investors own 69.72% of the company’s stock.

Devon Energy Price Performance

Shares of NYSE DVN opened at $39.45 on Monday. The stock has a market capitalization of $25.91 billion, a price-to-earnings ratio of 7.32, a PEG ratio of 1.22 and a beta of 2.03. Devon Energy Co. has a 12 month low of $37.76 and a 12 month high of $55.09. The firm’s 50 day simple moving average is $39.94 and its 200-day simple moving average is $43.90. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.11 and a quick ratio of 1.01.

Devon Energy (NYSE:DVN) last released its quarterly earnings results on Tuesday, November 5th. The energy company reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.09 by $0.01. The firm had revenue of $4.02 billion for the quarter, compared to analysts’ expectations of $3.72 billion. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.65 EPS. Analysts expect that Devon Energy Co. will post 4.79 EPS for the current year.

Devon Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be issued a $0.22 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.88 dividend on an annualized basis and a yield of 2.23%. Devon Energy’s payout ratio is currently 16.33%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on DVN. Susquehanna dropped their target price on shares of Devon Energy from $63.00 to $62.00 and set a “positive” rating on the stock in a report on Friday, October 18th. Evercore ISI dropped their target price on shares of Devon Energy from $55.00 to $50.00 and set an “in-line” rating on the stock in a report on Monday, September 30th. Benchmark reiterated a “hold” rating on shares of Devon Energy in a report on Tuesday, October 15th. Raymond James dropped their target price on shares of Devon Energy from $58.00 to $51.00 in a report on Tuesday, November 5th. Finally, Morgan Stanley dropped their target price on shares of Devon Energy from $55.00 to $51.00 and set an “overweight” rating on the stock in a report on Monday, September 16th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $51.85.

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.