Everhart Financial Group Inc. Invests $501,000 in Devon Energy Co. (NYSE:DVN)

Everhart Financial Group Inc. purchased a new stake in Devon Energy Co. (NYSE:DVN - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 13,406 shares of the energy company's stock, valued at approximately $501,000.

Other hedge funds have also made changes to their positions in the company. Hurley Capital LLC acquired a new position in shares of Devon Energy during the 4th quarter worth $26,000. Accredited Wealth Management LLC purchased a new position in shares of Devon Energy in the fourth quarter valued at $28,000. Cromwell Holdings LLC raised its stake in shares of Devon Energy by 98.0% during the 4th quarter. Cromwell Holdings LLC now owns 1,208 shares of the energy company's stock worth $40,000 after buying an additional 598 shares during the last quarter. Sierra Ocean LLC purchased a new stake in shares of Devon Energy in the 4th quarter worth about $43,000. Finally, Asset Planning Inc purchased a new position in Devon Energy during the 4th quarter valued at about $54,000. Institutional investors and hedge funds own 69.72% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Benchmark reiterated a "buy" rating and set a $44.00 price objective on shares of Devon Energy in a research report on Thursday, February 20th. Citigroup reduced their price target on Devon Energy from $46.00 to $43.00 and set a "buy" rating on the stock in a research note on Friday, April 4th. Cowen lowered Devon Energy to a "hold" rating and dropped their target price for the company from $46.00 to $45.00 in a research note on Tuesday, February 18th. JPMorgan Chase & Co. decreased their price target on Devon Energy from $48.00 to $42.00 and set a "neutral" rating on the stock in a research note on Thursday, March 13th. Finally, Susquehanna dropped their price objective on shares of Devon Energy from $52.00 to $41.00 and set a "positive" rating for the company in a research note on Tuesday, April 22nd. Ten investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, Devon Energy presently has an average rating of "Moderate Buy" and an average price target of $43.71.

Devon Energy Stock Up 2.2%

DVN stock traded up $0.76 during trading hours on Friday, hitting $35.09. The company's stock had a trading volume of 12,695,009 shares, compared to its average volume of 8,721,440. Devon Energy Co. has a 12 month low of $25.89 and a 12 month high of $49.35. The company has a quick ratio of 1.01, a current ratio of 1.04 and a debt-to-equity ratio of 0.57. The stock has a 50 day moving average price of $31.38 and a two-hundred day moving average price of $33.65. The company has a market capitalization of $22.53 billion, a PE ratio of 7.70, a price-to-earnings-growth ratio of 1.20 and a beta of 1.02.

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 for the quarter, missing the consensus estimate of $1.27 by ($0.06). The business had revenue of $4.45 billion for the quarter, compared to analyst estimates of $4.31 billion. Devon Energy had a return on equity of 22.52% and a net margin of 18.14%. Devon Energy's revenue for the quarter was up 23.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.16 EPS. On average, equities research analysts expect that Devon Energy Co. will post 4.85 earnings per share for the current year.

Devon Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.96 annualized dividend and a yield of 2.74%. Devon Energy's dividend payout ratio is 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.