U.S. Capital Wealth Advisors LLC Acquires 26,232 Shares of Devon Energy Corporation (NYSE:DVN)

U.S. Capital Wealth Advisors LLC boosted its holdings in shares of Devon Energy Corporation (NYSE:DVN - Free Report) by 32.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 107,782 shares of the energy company's stock after acquiring an additional 26,232 shares during the quarter. U.S. Capital Wealth Advisors LLC's holdings in Devon Energy were worth $4,031,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in DVN. Covestor Ltd lifted its position in 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 during the last quarter. Horizon Investments LLC raised its stake in shares of Devon Energy by 4.1% during the fourth quarter. Horizon Investments LLC now owns 8,843 shares of the energy company's stock worth $289,000 after acquiring an additional 347 shares in the last quarter. Tocqueville Asset Management L.P. raised its stake in shares of Devon Energy by 3.0% during the fourth quarter. Tocqueville Asset Management L.P. now owns 12,242 shares of the energy company's stock worth $401,000 after acquiring an additional 359 shares in the last quarter. Sierra Ocean LLC raised its stake in shares of Devon Energy by 29.4% during the first quarter. Sierra Ocean LLC now owns 1,709 shares of the energy company's stock worth $64,000 after acquiring an additional 388 shares in the last quarter. Finally, Salem Investment Counselors Inc. raised 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 acquiring an additional 400 shares in the last quarter. 69.72% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on DVN. Raymond James Financial set a $40.00 price target on shares of Devon Energy in a research note on Monday, April 21st. Citigroup decreased their price target on shares of Devon Energy from $46.00 to $43.00 and set a "buy" rating on the stock in a research note on Friday, April 4th. UBS Group decreased their price target 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. 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 note on Monday, April 14th. Finally, Mizuho decreased their price target on shares of Devon Energy from $46.00 to $43.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 13th. Ten research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $43.50.

Devon Energy Stock Down 1.5%

Shares of Devon Energy stock opened at $32.72 on Tuesday. 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 company's fifty day simple moving average is $32.43 and its two-hundred day simple moving average is $33.45. The company has a market cap of $21.01 billion, a P/E ratio of 7.45, a PEG ratio of 2.49 and a beta of 1.02. Devon Energy Corporation has a 12-month low of $25.89 and a 12-month high of $49.35.

Devon Energy (NYSE:DVN - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The energy company reported $1.21 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.27 by ($0.06). The company 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 revenue for the quarter was up 23.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.16 earnings per share. Research analysts anticipate that Devon Energy Corporation will post 4.85 EPS for the current year.

Devon Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.93%. 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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