Devon Energy Target of Unusually Large Options Trading (NYSE:DVN)

Devon Energy Co. (NYSE:DVN) saw unusually large options trading on Thursday. Traders bought 34,909 call options on the company. This is an increase of 35% compared to the typical daily volume of 25,865 call options.

Institutional Investors Weigh In On Devon Energy

Institutional investors and hedge funds have recently bought and sold shares of the company. Salem Investment Counselors Inc. raised its holdings in shares of Devon Energy by 31.4% in the 1st quarter. Salem Investment Counselors Inc. now owns 832 shares of the energy company’s stock valued at $42,000 after purchasing an additional 199 shares in the last quarter. Retirement Group LLC raised its stake in Devon Energy by 21.8% in the first quarter. Retirement Group LLC now owns 1,110 shares of the energy company’s stock worth $56,000 after buying an additional 199 shares in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its holdings in Devon Energy by 7.4% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 3,046 shares of the energy company’s stock worth $153,000 after buying an additional 209 shares during the period. MCF Advisors LLC boosted its position in Devon Energy by 5.6% during the 1st quarter. MCF Advisors LLC now owns 4,023 shares of the energy company’s stock valued at $202,000 after acquiring an additional 215 shares in the last quarter. Finally, Annex Advisory Services LLC increased its holdings in shares of Devon Energy by 0.8% in the 2nd quarter. Annex Advisory Services LLC now owns 27,651 shares of the energy company’s stock valued at $1,311,000 after acquiring an additional 223 shares during the period. 69.72% of the stock is owned by institutional investors.

Devon Energy Stock Up 1.5 %

Shares of DVN opened at $42.41 on Friday. The firm has a fifty day moving average price of $42.74 and a 200-day moving average price of $46.87. The company has a current ratio of 1.11, a quick ratio of 1.03 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $26.80 billion, a P/E ratio of 8.06, a P/E/G ratio of 1.22 and a beta of 2.02. Devon Energy has a 12-month low of $37.76 and a 12-month high of $55.09.

Devon Energy (NYSE:DVN) last released its quarterly earnings data on Tuesday, August 6th. The energy company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.15. The company had revenue of $3.92 billion during the quarter, compared to analysts’ expectations of $3.90 billion. Devon Energy had a net margin of 22.60% and a return on equity of 29.14%. The firm’s quarterly revenue was up 13.4% on a year-over-year basis. During the same period in the previous year, the company earned $1.18 EPS. Equities research analysts expect that Devon Energy will post 5.11 earnings per share for the current year.

Devon Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were paid a $0.22 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.88 annualized dividend and a yield of 2.07%. Devon Energy’s dividend payout ratio (DPR) is currently 16.79%.

Analyst Ratings Changes

Several analysts have commented on DVN shares. Scotiabank decreased their price target on shares of Devon Energy from $67.00 to $60.00 and set a “sector outperform” rating on the stock in a research note on Friday, July 12th. Evercore ISI lowered their price objective on shares of Devon Energy from $55.00 to $50.00 and set an “in-line” rating for the company in a research report on Monday, September 30th. Susquehanna reduced their target price on shares of Devon Energy from $65.00 to $63.00 and set a “positive” rating on the stock in a report on Wednesday, September 4th. Wells Fargo & Company decreased their target price on shares of Devon Energy from $55.00 to $50.00 and set an “overweight” rating on the stock in a research report on Tuesday. Finally, JPMorgan Chase & Co. dropped their price target on Devon Energy from $64.00 to $51.00 and set an “overweight” rating for the company in a research report on Thursday, September 12th. Eight equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $53.79.

Devon Energy Company 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.