DSG Capital Advisors LLC Makes New $790,000 Investment in Devon Energy Co. (NYSE:DVN)

DSG Capital Advisors LLC acquired a new stake in Devon Energy Co. (NYSE:DVN - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 24,145 shares of the energy company's stock, valued at approximately $790,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Hurley Capital LLC purchased a new position in Devon Energy during the fourth quarter worth about $26,000. Accredited Wealth Management LLC purchased a new stake in shares of Devon Energy in the 4th quarter worth about $28,000. Cromwell Holdings LLC lifted its holdings in shares of Devon Energy by 98.0% in the fourth quarter. Cromwell Holdings LLC now owns 1,208 shares of the energy company's stock valued at $40,000 after purchasing an additional 598 shares in the last quarter. Sierra Ocean LLC acquired a new stake in Devon Energy during the 4th quarter valued at $43,000. Finally, Thompson Investment Management Inc. boosted its stake in shares of Devon Energy by 60.0% during the fourth quarter. Thompson Investment Management Inc. now owns 1,600 shares of the energy company's stock valued at $52,000 after acquiring an additional 600 shares during the last quarter. Institutional investors and hedge funds own 69.72% of the company's stock.

Analyst Ratings Changes

DVN has been the subject of several recent analyst reports. Barclays lifted their target price on shares of Devon Energy from $38.00 to $40.00 and gave the stock an "equal weight" rating in a research note on Wednesday, May 7th. Raymond James set a $40.00 target price on shares of Devon Energy in a research report on Monday, April 21st. JPMorgan Chase & Co. cut their price objective on Devon Energy from $48.00 to $42.00 and set a "neutral" rating on the stock in a research report on Thursday, March 13th. Benchmark reissued a "buy" rating and set a $44.00 target price on shares of Devon Energy in a research report on Thursday, February 20th. Finally, Scotiabank cut their price target on Devon Energy from $45.00 to $35.00 and set a "sector outperform" rating on the stock in a research note on Friday, April 11th. Ten investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $43.71.

Devon Energy Trading Down 2.7%

Shares of NYSE:DVN opened at $30.28 on Monday. The company has a 50 day moving average of $31.65 and a 200-day moving average of $33.98. The firm has a market cap of $19.44 billion, a P/E ratio of 6.64, a P/E/G ratio of 1.20 and a beta of 1.00. 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 twelve month low of $25.89 and a twelve month high of $49.35.

Devon Energy (NYSE:DVN - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The energy company reported $1.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.27 by ($0.06). The company had revenue of $4.45 billion for the quarter, compared to the consensus estimate of $4.31 billion. Devon Energy had a return on equity of 22.52% and a net margin of 18.14%. The business's revenue for the quarter was up 23.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.16 EPS. As a group, analysts anticipate that Devon Energy Co. will post 4.85 earnings per share for the current fiscal year.

Devon Energy Announces Dividend

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 paid a $0.24 dividend. The ex-dividend date is Friday, June 13th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.17%. Devon Energy's payout ratio is 21.87%.

About Devon Energy

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.