Alpha Wealth Funds LLC Takes $1.29 Million Position in Devon Energy Co. (NYSE:DVN)

Alpha Wealth Funds LLC bought a new stake in shares of Devon Energy Co. (NYSE:DVN - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 40,338 shares of the energy company's stock, valued at approximately $1,290,000. Devon Energy comprises 1.2% of Alpha Wealth Funds LLC's investment portfolio, making the stock its 15th largest position.

Several other large investors have also recently made changes to their positions in the business. Siemens Fonds Invest GmbH purchased a new position in shares of Devon Energy during the fourth quarter valued at approximately $187,000. Total Wealth Planning & Management Inc. purchased a new position in shares of Devon Energy during the fourth quarter valued at approximately $273,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Devon Energy during the fourth quarter valued at approximately $7,795,000. Integrated Advisors Network LLC raised its holdings in Devon Energy by 6.1% in the 4th quarter. Integrated Advisors Network LLC now owns 8,357 shares of the energy company's stock worth $274,000 after acquiring an additional 482 shares during the last quarter. Finally, Michels Family Financial LLC purchased a new position in Devon Energy in the 4th quarter worth approximately $360,000. 69.72% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on DVN shares. Royal Bank of Canada decreased their price objective on shares of Devon Energy from $49.00 to $40.00 and set a "sector perform" rating for the company in a report on Monday, April 14th. Mizuho decreased their target price on Devon Energy from $46.00 to $43.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. Benchmark reaffirmed a "buy" rating and set a $44.00 price target on shares of Devon Energy in a report on Thursday, February 20th. JPMorgan Chase & Co. decreased their price objective on shares of Devon Energy from $48.00 to $42.00 and set a "neutral" rating for the company in a report on Thursday, March 13th. Finally, The Goldman Sachs Group raised their target price on shares of Devon Energy from $38.00 to $43.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. Ten equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $43.71.

Devon Energy Stock Performance

Devon Energy stock traded down $0.83 during midday trading on Friday, hitting $30.28. The stock had a trading volume of 18,138,161 shares, compared to its average volume of 8,703,272. The company has a current ratio of 1.04, a quick ratio of 1.01 and a debt-to-equity ratio of 0.57. Devon Energy Co. has a 52-week low of $25.89 and a 52-week high of $49.35. The company has a market capitalization of $19.44 billion, a PE ratio of 6.64, a P/E/G ratio of 1.20 and a beta of 1.00. The firm's fifty day moving average is $31.79 and its two-hundred day moving average is $34.11.

Devon Energy (NYSE:DVN - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The energy company reported $1.21 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.27 by ($0.06). Devon Energy had a return on equity of 22.52% and a net margin of 18.14%. The firm had revenue of $4.45 billion during the quarter, compared to analysts' expectations of $4.31 billion. During the same period last year, the company earned $1.16 earnings per share. The business's revenue for the quarter was up 23.8% on a year-over-year basis. On average, research analysts forecast that Devon Energy Co. will post 4.85 EPS for the current year.

Devon Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 3.17%. The ex-dividend date is Friday, June 13th. Devon Energy's dividend payout ratio is currently 21.87%.

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.