Blue Trust Inc. Increases Position in Devon Energy Co. (NYSE:DVN)

Blue Trust Inc. raised its holdings in Devon Energy Co. (NYSE:DVN) by 16.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 16,820 shares of the energy company’s stock after purchasing an additional 2,334 shares during the period. Blue Trust Inc.’s holdings in Devon Energy were worth $551,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Capital Performance Advisors LLP purchased a new stake in Devon Energy in the 3rd quarter worth $35,000. Future Financial Wealth Managment LLC acquired a new stake in shares of Devon Energy in the third quarter valued at about $39,000. True Wealth Design LLC increased its stake in shares of 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 worth $44,000 after purchasing an additional 1,089 shares in the last quarter. Hazlett Burt & Watson Inc. lifted 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 valued at $49,000 after buying an additional 290 shares in the last quarter. Finally, Activest Wealth Management boosted its holdings in 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 hedge funds and other institutional investors.

Devon Energy Stock Performance

NYSE:DVN opened at $35.04 on Friday. Devon Energy Co. has a fifty-two week low of $30.39 and a fifty-two week high of $55.09. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.11. The company has a 50 day moving average price of $35.00 and a 200 day moving average price of $39.64. The stock has a market capitalization of $23.02 billion, a P/E ratio of 6.50, a PEG ratio of 1.21 and a beta of 2.00.

Devon Energy (NYSE:DVN) last released its quarterly earnings results on Tuesday, November 5th. The energy company reported $1.10 EPS for the quarter, topping the consensus estimate of $1.09 by $0.01. The business had revenue of $4.02 billion during the quarter, compared to analyst estimates of $3.72 billion. Devon Energy had a return on equity of 24.73% and a net margin of 21.71%. The company’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period last year, the business posted $1.65 earnings per share. Equities research analysts forecast that Devon Energy Co. will post 4.7 EPS for the current year.

Devon Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Friday, December 13th were paid a dividend of $0.22 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.88 dividend on an annualized basis and a yield of 2.51%. Devon Energy’s dividend payout ratio (DPR) is presently 16.33%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on DVN. Raymond James increased their target price on Devon Energy from $53.00 to $54.00 and gave the company an “outperform” rating in a report on Thursday, January 23rd. Sanford C. Bernstein upgraded Devon Energy from a “market perform” rating to an “outperform” rating and set a $45.00 price objective on the stock in a report on Wednesday, January 15th. Scotiabank lowered their target price on shares of Devon Energy from $60.00 to $48.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Citigroup reduced their target price on shares of Devon Energy from $55.00 to $48.00 and set a “buy” rating for the company in a research report on Tuesday, November 26th. Finally, Benchmark raised shares of Devon Energy from a “hold” rating to a “buy” rating and set a $44.00 price objective for the company in a research note on Tuesday, January 14th. Nine investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $49.45.

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.