Kingswood Wealth Advisors LLC Buys 22,767 Shares of Devon Energy Corporation (NYSE:DVN)

Kingswood Wealth Advisors LLC grew its holdings in shares of Devon Energy Corporation (NYSE:DVN - Free Report) by 59.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 60,791 shares of the energy company's stock after purchasing an additional 22,767 shares during the quarter. Kingswood Wealth Advisors LLC's holdings in Devon Energy were worth $2,279,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of DVN. Hurley Capital LLC acquired a new position in Devon Energy in the 4th quarter valued at $26,000. Accredited Wealth Management LLC acquired a new position in Devon Energy in the 4th quarter valued at $28,000. Rakuten Securities Inc. grew its stake in Devon Energy by 94.6% in the 1st quarter. Rakuten Securities Inc. now owns 833 shares of the energy company's stock valued at $31,000 after buying an additional 405 shares during the last quarter. Cromwell Holdings LLC grew its stake in Devon Energy by 98.0% in the 4th quarter. Cromwell Holdings LLC now owns 1,208 shares of the energy company's stock valued at $40,000 after buying an additional 598 shares during the last quarter. Finally, Salem Investment Counselors Inc. grew its stake in Devon Energy by 46.7% in the 1st quarter. Salem Investment Counselors Inc. now owns 1,257 shares of the energy company's stock valued at $47,000 after buying an additional 400 shares during the last quarter. Institutional investors own 69.72% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on DVN shares. UBS Group lowered their target price on shares of Devon Energy from $41.00 to $35.00 and set a "neutral" rating on the stock in a research note on Monday, April 7th. The Goldman Sachs Group raised their target price on shares of Devon Energy from $38.00 to $43.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. Royal Bank Of Canada decreased their price target on shares of Devon Energy from $49.00 to $40.00 and set a "sector perform" rating on the stock in a research report on Monday, April 14th. Susquehanna decreased their price target on shares of Devon Energy from $52.00 to $41.00 and set a "positive" rating on the stock in a research report on Tuesday, April 22nd. Finally, Bank of America decreased their price target on shares of Devon Energy from $52.00 to $42.00 and set a "buy" rating on the stock in a research report on Tuesday, April 29th. Ten research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, Devon Energy has a consensus rating of "Moderate Buy" and an average target price of $43.50.

Devon Energy Price Performance

NYSE:DVN traded up $0.21 on Friday, reaching $34.25. The stock had a trading volume of 14,983,947 shares, compared to its average volume of 8,813,332. The company has a quick ratio of 0.99, a current ratio of 1.08 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $21.99 billion, a P/E ratio of 7.80, a price-to-earnings-growth ratio of 2.54 and a beta of 1.02. Devon Energy Corporation has a 1-year low of $25.89 and a 1-year high of $49.35. The stock has a fifty day moving average price of $31.91 and a 200-day moving average price of $33.53.

Devon Energy (NYSE:DVN - Get Free Report) last announced its 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 business had revenue of $4.45 billion during the quarter, compared to analyst estimates of $4.31 billion. Devon Energy had a return on equity of 21.90% and a net margin of 16.60%. The firm's revenue was up 23.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.16 earnings per share. Research analysts forecast that Devon Energy Corporation will post 4.85 EPS 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 given a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.96 dividend on an annualized basis and a yield of 2.80%. 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.