J.W. Cole Advisors Inc. Purchases 20,954 Shares of Devon Energy Corporation (NYSE:DVN)

J.W. Cole Advisors Inc. lifted its holdings in Devon Energy Corporation (NYSE:DVN - Free Report) by 20.7% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 121,984 shares of the energy company's stock after purchasing an additional 20,954 shares during the period. J.W. Cole Advisors Inc.'s holdings in Devon Energy were worth $4,562,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Hurley Capital LLC acquired a new position in shares of Devon Energy during the fourth quarter worth $26,000. Financial Gravity Asset Management Inc. acquired a new stake in Devon Energy in the first quarter worth about $26,000. Accredited Wealth Management LLC purchased a new stake in shares of Devon Energy during the fourth quarter worth about $28,000. Rakuten Securities Inc. increased its holdings in shares of Devon Energy by 94.6% during the first quarter. Rakuten Securities Inc. now owns 833 shares of the energy company's stock valued at $31,000 after acquiring an additional 405 shares in the last quarter. Finally, Hughes Financial Services LLC acquired a new stake in Devon Energy in the 1st quarter worth approximately $38,000. 69.72% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on DVN. Wolfe Research upped their price target on shares of Devon Energy from $47.00 to $49.00 and gave the company an "outperform" rating in a research note on Monday, June 23rd. Raymond James Financial set a $40.00 price target on Devon Energy in a research report on Monday, April 21st. Bernstein Bank dropped their price target on Devon Energy from $45.00 to $43.00 and set an "outperform" rating on the stock in a research note on Monday, July 7th. Barclays raised their price target on shares of Devon Energy from $38.00 to $40.00 and gave the stock an "equal weight" rating in a research report on Wednesday, May 7th. Finally, The Goldman Sachs Group upped their target price on Devon Energy from $38.00 to $43.00 and gave the stock a "buy" rating in a research note on Thursday, May 15th. Eleven analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $43.67.

Devon Energy Price Performance

Devon Energy stock opened at $32.84 on Monday. The company has a current ratio of 1.08, a quick ratio of 0.99 and a debt-to-equity ratio of 0.57. The stock has a market cap of $21.09 billion, a P/E ratio of 7.48, a PEG ratio of 2.35 and a beta of 1.02. The company has a 50-day moving average price of $32.82 and a 200 day moving average price of $33.55. Devon Energy Corporation has a 12-month low of $25.89 and a 12-month high of $47.51.

Devon Energy (NYSE:DVN - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The energy company reported $1.21 EPS for the quarter, missing the consensus estimate of $1.27 by ($0.06). The firm 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 quarterly revenue was up 23.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.16 EPS. Sell-side analysts anticipate 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 was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 2.92%. The ex-dividend date was Friday, June 13th. Devon Energy's dividend payout ratio (DPR) is presently 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.

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