Arkadios Wealth Advisors Acquires 30,886 Shares of Devon Energy Corporation (NYSE:DVN)

Key Points

• Arkadios Wealth Advisors increased its holdings in Devon Energy by 59.0% in the first quarter, acquiring an additional 30,886 shares, bringing their total to 83,248 shares valued at approximately $3.11 million.
• Analysts have mixed forecasts for Devon Energy with BMO Capital Markets raising its price target to $51.00 and others adjusting their ratings; the stock currently holds an average rating of "Moderate Buy" with a consensus price target of $43.85.
• Devon Energy announced a quarterly dividend of $0.24 per share, translating to an annualized dividend of $0.96 and a dividend yield of 2.84%, with a payout ratio of 21.87%.

Arkadios Wealth Advisors boosted its position in shares of Devon Energy Corporation (NYSE:DVN - Free Report) by 59.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 83,248 shares of the energy company's stock after purchasing an additional 30,886 shares during the period. Arkadios Wealth Advisors' holdings in Devon Energy were worth $3,113,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its holdings in Devon Energy by 6.5% during the 4th quarter. Geode Capital Management LLC now owns 16,931,275 shares of the energy company's stock worth $552,830,000 after purchasing an additional 1,038,305 shares in the last quarter. Victory Capital Management Inc. raised its holdings in Devon Energy by 12.9% during the first quarter. Victory Capital Management Inc. now owns 11,518,862 shares of the energy company's stock worth $430,805,000 after acquiring an additional 1,315,050 shares in the last quarter. Fuller & Thaler Asset Management Inc. boosted its position in Devon Energy by 42.8% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 10,395,225 shares of the energy company's stock valued at $340,236,000 after purchasing an additional 3,114,656 shares during the last quarter. Invesco Ltd. raised its stake in shares of Devon Energy by 32.8% during the 4th quarter. Invesco Ltd. now owns 9,461,719 shares of the energy company's stock worth $309,682,000 after purchasing an additional 2,335,473 shares in the last quarter. Finally, Northern Trust Corp raised its stake in shares of Devon Energy by 2.4% during the 4th quarter. Northern Trust Corp now owns 6,260,735 shares of the energy company's stock worth $204,914,000 after purchasing an additional 144,789 shares in the last quarter. Institutional investors own 69.72% of the company's stock.

Devon Energy Price Performance

NYSE:DVN traded down $1.10 during mid-day trading on Friday, reaching $32.12. The stock had a trading volume of 8,889,859 shares, compared to its average volume of 7,053,530. The stock has a 50-day simple moving average of $32.92 and a two-hundred day simple moving average of $33.43. The stock has a market capitalization of $20.62 billion, a PE ratio of 7.32, a P/E/G ratio of 1.88 and a beta of 1.07. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 0.99. Devon Energy Corporation has a 12 month low of $25.89 and a 12 month high of $46.04.

Devon Energy (NYSE:DVN - Get Free Report) last issued its earnings results on Tuesday, May 6th. The energy company reported $1.21 earnings per share for the quarter, missing analysts' consensus estimates of $1.27 by ($0.06). Devon Energy had a net margin of 16.60% and a return on equity of 21.90%. The company had revenue of $4.45 billion during the quarter, compared to analyst estimates of $4.31 billion. During the same quarter in the prior year, the business earned $1.16 EPS. The business's quarterly revenue was up 23.8% on a year-over-year basis. On average, equities analysts anticipate that Devon Energy Corporation will post 4.85 earnings per share for the current year.

Devon Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were given a $0.24 dividend. The ex-dividend date was Friday, June 13th. This represents a $0.96 dividend on an annualized basis and a yield of 3.0%. Devon Energy's dividend payout ratio (DPR) is currently 21.87%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on DVN. Barclays boosted their target price on shares of Devon Energy from $38.00 to $40.00 and gave the stock an "equal weight" rating in a report on Wednesday, May 7th. Bernstein Bank reduced their price target on Devon Energy from $45.00 to $43.00 and set an "outperform" rating for the company in a report on Monday, July 7th. JPMorgan Chase & Co. upped their price objective on Devon Energy from $40.00 to $42.00 and gave the company a "neutral" rating in a research note on Tuesday, July 8th. Wall Street Zen upgraded Devon Energy from a "sell" rating to a "hold" rating in a research note on Thursday, May 15th. Finally, Susquehanna dropped their price objective on Devon Energy from $52.00 to $41.00 and set a "positive" rating on the stock in a research note on Tuesday, April 22nd. Eleven analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $43.85.

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.