24,249 Shares in Devon Energy Corporation (NYSE:DVN) Purchased by Financial Sense Advisors Inc.

Financial Sense Advisors Inc. acquired a new position in shares of Devon Energy Corporation (NYSE:DVN - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 24,249 shares of the energy company's stock, valued at approximately $907,000.

Other large investors have also added to or reduced their stakes in the company. Financial Gravity Asset Management Inc. purchased a new position in shares of Devon Energy in the first quarter worth about $26,000. Hurley Capital LLC purchased a new position in shares of Devon Energy in the fourth quarter worth about $26,000. Rakuten Securities Inc. increased its stake in shares of Devon Energy by 94.6% in the first 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. Accredited Wealth Management LLC purchased a new position in Devon Energy during the fourth quarter valued at approximately $28,000. Finally, Hughes Financial Services LLC purchased a new position in Devon Energy during the first quarter valued at approximately $38,000. Hedge funds and other institutional investors own 69.72% of the company's stock.

Devon Energy Trading Up 0.0%

Devon Energy stock traded up $0.01 during mid-day trading on Thursday, reaching $33.25. 6,900,645 shares of the company traded hands, compared to its average volume of 9,160,567. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 0.99. The firm's 50 day moving average price is $32.77 and its 200 day moving average price is $33.53. The firm has a market capitalization of $21.35 billion, a price-to-earnings ratio of 7.56, a P/E/G ratio of 2.32 and a beta of 1.02. Devon Energy Corporation has a 52-week low of $25.89 and a 52-week high of $47.44.

Devon Energy (NYSE:DVN - Get Free Report) last issued 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). The company had revenue of $4.45 billion for the quarter, compared to analysts' expectations of $4.31 billion. Devon Energy had a net margin of 16.60% and a return on equity of 21.90%. The firm's revenue for the quarter was up 23.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.16 earnings per share. On average, analysts anticipate that Devon Energy Corporation will post 4.85 earnings per share for the current fiscal year.

Devon Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were paid a $0.24 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $0.96 annualized dividend and a dividend yield of 2.89%. Devon Energy's payout ratio is 21.87%.

Analysts Set New Price Targets

Several brokerages recently commented on DVN. Citigroup reduced their price objective on shares of Devon Energy from $46.00 to $43.00 and set a "buy" rating for the company in a research note on Friday, April 4th. Barclays boosted their price objective on shares of Devon Energy from $38.00 to $40.00 and gave the company an "equal weight" rating in a research note on Wednesday, May 7th. Susquehanna reduced 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. BMO Capital Markets boosted their price objective on shares of Devon Energy from $48.00 to $51.00 and gave the company an "outperform" rating in a research note on Monday, July 14th. Finally, Morgan Stanley reissued an "overweight" rating and issued a $46.00 price target (up previously from $44.00) on shares of Devon Energy in a research note on Tuesday, July 15th. Eleven research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $43.85.

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.