One Wealth Advisors LLC Makes New $322,000 Investment in Devon Energy Corporation (NYSE:DVN)

Key Points

• One Wealth Advisors LLC purchased 8,609 shares of Devon Energy Corporation for approximately $322,000, indicating institutional investor interest in the company.
• Devon Energy recently announced a quarterly dividend of $0.24 per share, representing an annualized yield of 2.91% with a payout ratio of 21.87%.
• The company's stock traded down 1.1% to $32.95, with a recent earnings report showing quarterly revenue increasing by 23.8% compared to the previous year.

One Wealth Advisors 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 filing with the SEC. The institutional investor acquired 8,609 shares of the energy company's stock, valued at approximately $322,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in DVN. Hurley Capital LLC purchased a new stake in shares of Devon Energy during the 4th quarter valued at $26,000. Financial Gravity Asset Management Inc. purchased a new stake in shares of Devon Energy during the 1st quarter valued at $26,000. Accredited Wealth Management LLC purchased a new stake in shares of Devon Energy during the 4th quarter valued at $28,000. Rakuten Securities Inc. lifted its holdings in shares of Devon Energy by 94.6% during the 1st quarter. Rakuten Securities Inc. now owns 833 shares of the energy company's stock valued at $31,000 after purchasing an additional 405 shares during the last quarter. Finally, Hughes Financial Services LLC purchased a new stake in shares of Devon Energy during the 1st quarter valued at $38,000. Hedge funds and other institutional investors own 69.72% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on DVN shares. Barclays upped their target price on Devon Energy from $38.00 to $40.00 and gave the company an "equal weight" rating in a research report on Wednesday, May 7th. Wall Street Zen upgraded Devon Energy from a "sell" rating to a "hold" rating in a research report on Thursday, May 15th. Bank of America lowered their price objective on Devon Energy from $52.00 to $42.00 and set a "buy" rating on the stock in a report on Tuesday, April 29th. UBS Group raised their target price on shares of Devon Energy from $35.00 to $37.00 and gave the stock a "neutral" rating in a research note on Friday, July 11th. Finally, Scotiabank reissued an "outperform" rating on shares of Devon Energy in a research note on Friday, July 11th. Eleven equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $43.85.

Devon Energy Stock Performance

Shares of NYSE:DVN traded up $1.12 on Monday, reaching $34.06. The company's stock had a trading volume of 2,785,308 shares, compared to its average volume of 9,110,637. The stock has a market capitalization of $21.87 billion, a P/E ratio of 7.76, a PEG ratio of 1.87 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. The stock's 50-day moving average is $32.75 and its two-hundred day moving average is $33.49. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.08 and a quick ratio of 0.99.

Devon Energy (NYSE:DVN - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The energy company reported $1.21 earnings per share (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 return on equity of 21.90% and a net margin of 16.60%. The company's revenue for the quarter was up 23.8% on a year-over-year basis. During the same period in the prior year, the company earned $1.16 earnings per share. As a group, sell-side analysts forecast that Devon Energy Corporation will post 4.85 EPS for the current year.

Devon Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were issued a dividend of $0.24 per share. The ex-dividend date was Friday, June 13th. This represents a $0.96 annualized dividend and a yield of 2.82%. Devon Energy's dividend payout ratio is currently 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.