Inscription Capital LLC Invests $365,000 in Devon Energy Corporation (NYSE:DVN)

Inscription Capital LLC acquired a new stake in shares of Devon Energy Corporation (NYSE:DVN - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 9,757 shares of the energy company's stock, valued at approximately $365,000.

Several other large investors also recently bought and sold shares of DVN. Asset Management One Co. Ltd. increased its stake in Devon Energy by 1.4% during the fourth quarter. Asset Management One Co. Ltd. now owns 246,671 shares of the energy company's stock worth $7,696,000 after purchasing an additional 3,424 shares during the period. Vontobel Holding Ltd. grew its holdings in shares of Devon Energy by 225.5% in the fourth quarter. Vontobel Holding Ltd. now owns 34,295 shares of the energy company's stock valued at $1,122,000 after purchasing an additional 23,759 shares in the last quarter. Principal Securities Inc. increased its stake in Devon Energy by 5.8% during the 4th quarter. Principal Securities Inc. now owns 15,697 shares of the energy company's stock worth $514,000 after buying an additional 858 shares during the period. Allworth Financial LP increased its stake in Devon Energy by 112.3% during the 4th quarter. Allworth Financial LP now owns 12,906 shares of the energy company's stock worth $422,000 after buying an additional 6,827 shares during the period. Finally, Strategic Financial Concepts LLC acquired a new stake in Devon Energy during the 4th quarter worth approximately $671,000. Hedge funds and other institutional investors own 69.72% of the company's stock.

Devon Energy Stock Up 0.3%

Devon Energy stock opened at $34.72 on Wednesday. The company has a market capitalization of $22.29 billion, a P/E ratio of 7.91, a PEG ratio of 2.58 and a beta of 1.02. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.99 and a current ratio of 1.08. Devon Energy Corporation has a fifty-two week low of $25.89 and a fifty-two week high of $49.35. The stock has a 50-day simple moving average of $31.61 and a 200-day simple moving average of $33.58.

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 for the quarter, missing analysts' consensus estimates of $1.27 by ($0.06). The firm had revenue of $4.45 billion during 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%. Devon Energy's quarterly revenue was up 23.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.16 EPS. Equities research analysts expect that Devon Energy Corporation will post 4.85 earnings per share for the current year.

Devon Energy Announces Dividend

The firm 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. This represents a $0.96 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date of this dividend is Friday, June 13th. Devon Energy's dividend payout ratio is currently 21.87%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Raymond James Financial set a $40.00 price objective on Devon Energy in a research report on Monday, April 21st. Susquehanna cut their price target on Devon Energy from $52.00 to $41.00 and set a "positive" rating on the stock in a report on Tuesday, April 22nd. Benchmark reaffirmed a "buy" rating and issued a $44.00 price target on shares of Devon Energy in a research report on Thursday, February 20th. The Goldman Sachs Group boosted their price objective on Devon Energy from $38.00 to $43.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. Finally, Royal Bank Of Canada cut their target price on shares of Devon Energy from $49.00 to $40.00 and set a "sector perform" rating on the stock in a research note on Monday, April 14th. Ten equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $43.50.

Devon Energy Company 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.

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