Ritholtz Wealth Management Has $2.13 Million Stake in Devon Energy Corporation (NYSE:DVN)

Ritholtz Wealth Management raised its holdings in Devon Energy Corporation (NYSE:DVN - Free Report) by 96.9% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 56,980 shares of the energy company's stock after buying an additional 28,046 shares during the period. Ritholtz Wealth Management's holdings in Devon Energy were worth $2,131,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Hurley Capital LLC bought a new position in shares of Devon Energy during the fourth quarter worth approximately $26,000. Accredited Wealth Management LLC bought a new position in shares of Devon Energy during the fourth quarter worth approximately $28,000. Cromwell Holdings LLC increased its stake in shares of Devon Energy by 98.0% during the fourth quarter. Cromwell Holdings LLC now owns 1,208 shares of the energy company's stock worth $40,000 after purchasing an additional 598 shares during the period. Salem Investment Counselors Inc. increased its stake in shares of Devon Energy by 46.7% during the first quarter. Salem Investment Counselors Inc. now owns 1,257 shares of the energy company's stock worth $47,000 after purchasing an additional 400 shares during the period. Finally, Sierra Ocean LLC bought a new position in shares of Devon Energy during the fourth quarter worth approximately $43,000. Institutional investors own 69.72% of the company's stock.

Devon Energy Price Performance

Shares of DVN stock traded down $0.69 during trading hours on Thursday, reaching $34.02. The company's stock had a trading volume of 11,395,063 shares, compared to its average volume of 8,774,799. The firm's 50 day simple moving average is $31.79 and its 200-day simple moving average is $33.56. The company has a market capitalization of $21.84 billion, a price-to-earnings ratio of 7.75, a PEG ratio of 2.54 and a beta of 1.02. Devon Energy Corporation has a fifty-two week low of $25.89 and a fifty-two week high of $49.35. The company has a quick ratio of 0.99, a current ratio of 1.08 and a debt-to-equity ratio of 0.57.

Devon Energy (NYSE:DVN - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The energy company reported $1.21 earnings per share for the quarter, missing the consensus estimate of $1.27 by ($0.06). Devon Energy had a net margin of 16.60% and a return on equity of 21.90%. The firm had revenue of $4.45 billion for the quarter, compared to analyst estimates of $4.31 billion. During the same period last year, the business earned $1.16 EPS. The company's revenue was up 23.8% compared to the same quarter last year. Sell-side analysts forecast that Devon Energy Corporation will post 4.85 earnings per share for the current year.

Devon Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.82%. The ex-dividend date of this dividend is Friday, June 13th. Devon Energy's dividend payout ratio (DPR) is 21.87%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on DVN. Williams Trading set a $50.00 target price on Devon Energy in a research note on Wednesday, March 5th. UBS Group lowered their target price on Devon Energy from $41.00 to $35.00 and set a "neutral" rating on the stock in a research note on Monday, April 7th. Wall Street Zen upgraded Devon Energy from a "sell" rating to a "hold" rating in a research note on Thursday, May 15th. Susquehanna lowered their price objective on Devon Energy from $52.00 to $41.00 and set a "positive" rating on the stock in a research note on Tuesday, April 22nd. Finally, Barclays raised their price objective on Devon Energy from $38.00 to $40.00 and gave the stock an "equal weight" rating in a research note on Wednesday, May 7th. Ten equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $43.50.

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.