By otakuyassine3@gmail.com 
Lummis Asset Management LP raised its holdings in shares of Devon Energy Co. (NYSE:DVN – Free Report) by 2.3% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 31,429 shares of the energy company’s stock after acquiring an additional 693 shares during the period. Devon Energy makes up about 1.3% of Lummis Asset Management LP’s investment portfolio, making the stock its 23rd largest position. Lummis Asset Management LP’s holdings in Devon Energy were worth $1,029,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in DVN. Capital Performance Advisors LLP bought a new stake in shares of Devon Energy during the 3rd quarter valued at about $35,000. Future Financial Wealth Managment LLC purchased a new stake in Devon Energy in the third quarter valued at approximately $39,000. True Wealth Design LLC lifted its position in Devon Energy by 3,889.3% during the third quarter. True Wealth Design LLC now owns 1,117 shares of the energy company’s stock valued at $44,000 after purchasing an additional 1,089 shares during the last quarter. Hazlett Burt & Watson Inc. grew its stake in Devon Energy by 29.8% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 1,263 shares of the energy company’s stock worth $49,000 after buying an additional 290 shares in the last quarter. Finally, Activest Wealth Management increased its holdings in shares of Devon Energy by 60.4% in the 3rd quarter. Activest Wealth Management now owns 1,275 shares of the energy company’s stock worth $50,000 after buying an additional 480 shares during the last quarter. 69.72% of the stock is currently owned by institutional investors.
Devon Energy Price Performance
Shares of DVN stock opened at $37.98 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.11. Devon Energy Co. has a fifty-two week low of $30.39 and a fifty-two week high of $55.09. The firm has a market cap of $24.95 billion, a P/E ratio of 7.05, a P/E/G ratio of 1.14 and a beta of 2.00. The business’s 50 day moving average price is $35.48 and its 200-day moving average price is $40.32.
Devon Energy (NYSE:DVN – Get Free Report) last released its quarterly earnings results on Tuesday, November 5th. The energy company reported $1.10 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.01. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%. The business had revenue of $4.02 billion for the quarter, compared to analysts’ expectations of $3.72 billion. During the same quarter in the previous year, the business posted $1.65 earnings per share. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. On average, equities research analysts anticipate that Devon Energy Co. will post 4.72 earnings per share for the current year.
Devon Energy Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Friday, December 13th were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.32%. The ex-dividend date of this dividend was Friday, December 13th. Devon Energy’s dividend payout ratio is currently 16.33%.
Wall Street Analyst Weigh In
A number of analysts have recently issued reports on DVN shares. Wells Fargo & Company dropped their price objective on shares of Devon Energy from $49.00 to $43.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th. TD Cowen cut their price objective on Devon Energy from $54.00 to $46.00 and set a “hold” rating for the company in a report on Tuesday, November 5th. Scotiabank decreased their price objective on Devon Energy from $60.00 to $48.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Citigroup cut their target price on Devon Energy from $55.00 to $48.00 and set a “buy” rating for the company in a research note on Tuesday, November 26th. Finally, BMO Capital Markets decreased their price target on shares of Devon Energy from $52.00 to $48.00 and set an “outperform” rating on the stock in a research note on Friday, October 4th. Nine equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $49.27.
View Our Latest Analysis on DVN
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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