10,200 Shares in Devon Energy Co. (NYSE:DVN) Acquired by Trace Wealth Advisors LLC

Trace Wealth Advisors LLC bought a new stake in shares of Devon Energy Co. (NYSE:DVN - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 10,200 shares of the energy company's stock, valued at approximately $334,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Redwood Wealth Management Group LLC boosted its holdings in shares of Devon Energy by 3.9% during the 4th quarter. Redwood Wealth Management Group LLC now owns 8,141 shares of the energy company's stock valued at $266,000 after buying an additional 309 shares in the last quarter. Cornerstone Wealth Management LLC lifted its position in Devon Energy by 1.6% during the 4th quarter. Cornerstone Wealth Management LLC now owns 21,242 shares of the energy company's stock valued at $695,000 after acquiring an additional 326 shares during the period. Annex Advisory Services LLC boosted its stake in Devon Energy by 1.2% during the fourth quarter. Annex Advisory Services LLC now owns 27,021 shares of the energy company's stock worth $884,000 after acquiring an additional 327 shares in the last quarter. Independence Bank of Kentucky grew its holdings in Devon Energy by 7.8% in the fourth quarter. Independence Bank of Kentucky now owns 4,580 shares of the energy company's stock worth $150,000 after purchasing an additional 330 shares during the period. Finally, Covestor Ltd increased its stake in shares of Devon Energy by 15.9% during the fourth quarter. Covestor Ltd now owns 2,521 shares of the energy company's stock valued at $83,000 after purchasing an additional 345 shares in the last quarter. Hedge funds and other institutional investors own 69.72% of the company's stock.

Devon Energy Trading Down 0.6%

NYSE:DVN traded down $0.18 during mid-day trading on Friday, hitting $30.96. 2,794,100 shares of the stock traded hands, compared to its average volume of 8,608,569. The company has a quick ratio of 1.01, a current ratio of 1.04 and a debt-to-equity ratio of 0.57. Devon Energy Co. has a 52 week low of $25.89 and a 52 week high of $49.35. The stock has a market capitalization of $19.88 billion, a price-to-earnings ratio of 6.79, a PEG ratio of 1.20 and a beta of 1.00. The firm's 50 day moving average is $32.29 and its two-hundred day moving average is $34.38.

Devon Energy (NYSE:DVN - Get Free Report) last issued its quarterly earnings results 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 return on equity of 22.52% and a net margin of 18.14%. The business had revenue of $4.45 billion during the quarter, compared to analysts' expectations of $4.31 billion. During the same quarter in the previous year, the company posted $1.16 earnings per share. The company's quarterly revenue was up 23.8% compared to the same quarter last year. On average, equities research analysts predict that Devon Energy Co. will post 4.85 earnings per share for the current year.

Devon Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be given a dividend of $0.24 per share. The ex-dividend date is Friday, June 13th. This represents a $0.96 annualized dividend and a dividend yield of 3.10%. Devon Energy's dividend payout ratio (DPR) is 21.87%.

Analyst Ratings Changes

A number of analysts have recently commented on DVN shares. Mizuho dropped their price target on Devon Energy from $46.00 to $43.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 13th. Wells Fargo & Company boosted their target price on Devon Energy from $44.00 to $46.00 and gave the stock an "overweight" rating in a report on Wednesday, May 14th. Citigroup cut their target price on Devon Energy from $46.00 to $43.00 and set a "buy" rating on the stock in a research note on Friday, April 4th. 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. Finally, JPMorgan Chase & Co. dropped their price target on shares of Devon Energy from $48.00 to $42.00 and set a "neutral" rating on the stock in a research note on Thursday, March 13th. Ten investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, Devon Energy currently has an average rating of "Moderate Buy" and an average target price of $43.71.

About Devon Energy

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.