Fortem Financial Group LLC increased its position in shares of Devon Energy Corporation (NYSE:DVN - Free Report) by 45.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 25,477 shares of the energy company's stock after acquiring an additional 7,901 shares during the period. Fortem Financial Group LLC's holdings in Devon Energy were worth $953,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of DVN. Hurley Capital LLC acquired a new position in Devon Energy during the fourth quarter worth about $26,000. Financial Gravity Asset Management Inc. acquired a new position in Devon Energy during the first quarter worth about $26,000. Accredited Wealth Management LLC purchased a new position in Devon Energy in the 4th quarter worth about $28,000. Rakuten Securities Inc. increased its stake in Devon Energy by 94.6% in the 1st quarter. Rakuten Securities Inc. now owns 833 shares of the energy company's stock worth $31,000 after purchasing an additional 405 shares in the last quarter. Finally, Salem Investment Counselors Inc. increased its stake in Devon Energy by 46.7% in the 1st quarter. Salem Investment Counselors Inc. now owns 1,257 shares of the energy company's stock worth $47,000 after purchasing an additional 400 shares in the last quarter. 69.72% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
DVN has been the topic of a number of analyst reports. Wall Street Zen raised Devon Energy from a "sell" rating to a "hold" rating in a research note on Thursday, May 15th. Morgan Stanley lifted their price target on Devon Energy from $42.00 to $44.00 and gave the stock an "overweight" rating in a research note on Friday, May 23rd. Mizuho lowered their target price on Devon Energy from $46.00 to $43.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 13th. UBS Group lifted their target price on Devon Energy from $35.00 to $37.00 and gave the company a "neutral" rating in a research note on Friday. Finally, Barclays lifted their target price on Devon Energy from $38.00 to $40.00 and gave the company an "equal weight" rating in a research note on Wednesday, May 7th. Ten research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $43.79.
View Our Latest Report on Devon Energy
Devon Energy Stock Up 0.1%
DVN opened at $33.99 on Friday. The business has a 50 day moving average price of $32.69 and a 200 day moving average price of $33.51. Devon Energy Corporation has a twelve month low of $25.89 and a twelve month high of $49.35. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.99 and a current ratio of 1.08. The firm has a market cap of $21.82 billion, a P/E ratio of 7.74, a price-to-earnings-growth ratio of 2.53 and a beta of 1.02.
Devon Energy (NYSE:DVN - Get Free Report) last posted its earnings results on Tuesday, May 6th. The energy company reported $1.21 earnings per share for the quarter, missing the consensus estimate of $1.27 by ($0.06). Devon Energy had a return on equity of 21.90% and a net margin of 16.60%. The company had revenue of $4.45 billion during the quarter, compared to analyst estimates of $4.31 billion. During the same quarter last year, the firm posted $1.16 earnings per share. The firm's revenue for the quarter was up 23.8% compared to the same quarter last year. Research analysts forecast that Devon Energy Corporation will post 4.85 EPS for the current year.
Devon Energy Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were issued a $0.24 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $0.96 annualized dividend and a yield of 2.82%. Devon Energy's dividend payout ratio (DPR) is currently 21.87%.
Devon Energy Profile
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Free Report)
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.
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