Bard Financial Services Inc. Buys 9,600 Shares of Devon Energy Co. (NYSE:DVN)

Bard Financial Services Inc. grew its stake in shares of Devon Energy Co. (NYSE:DVN) by 86.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 20,650 shares of the energy company’s stock after acquiring an additional 9,600 shares during the quarter. Bard Financial Services Inc.’s holdings in Devon Energy were worth $676,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of DVN. Private Advisor Group LLC raised its position in shares of Devon Energy by 6.3% in the 2nd quarter. Private Advisor Group LLC now owns 83,609 shares of the energy company’s stock valued at $3,963,000 after buying an additional 4,975 shares in the last quarter. Candriam S.C.A. lifted its stake in Devon Energy by 18.5% during the second quarter. Candriam S.C.A. now owns 43,822 shares of the energy company’s stock worth $2,077,000 after purchasing an additional 6,850 shares during the last quarter. Savant Capital LLC boosted its holdings in shares of Devon Energy by 114.3% in the 2nd quarter. Savant Capital LLC now owns 43,795 shares of the energy company’s stock valued at $2,076,000 after purchasing an additional 23,355 shares in the last quarter. Gallacher Capital Management LLC increased its stake in shares of Devon Energy by 45.4% in the 2nd quarter. Gallacher Capital Management LLC now owns 14,748 shares of the energy company’s stock valued at $699,000 after purchasing an additional 4,607 shares during the last quarter. Finally, Acadian Asset Management LLC raised its holdings in shares of Devon Energy by 1,061.4% during the 2nd quarter. Acadian Asset Management LLC now owns 99,624 shares of the energy company’s stock worth $4,719,000 after buying an additional 91,046 shares in the last quarter. 69.72% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently weighed in on DVN shares. Susquehanna decreased their target price on Devon Energy from $63.00 to $62.00 and set a “positive” rating on the stock in a research report on Friday, October 18th. Evercore ISI decreased their price target on shares of Devon Energy from $55.00 to $50.00 and set an “in-line” rating on the stock in a report on Monday, September 30th. UBS Group dropped their price objective on shares of Devon Energy from $53.00 to $47.00 and set a “neutral” rating for the company in a research note on Wednesday, September 18th. Barclays cut their target price on shares of Devon Energy from $55.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 3rd. Finally, Benchmark reiterated a “hold” rating on shares of Devon Energy in a report on Tuesday, October 15th. Eleven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, Devon Energy presently has an average rating of “Moderate Buy” and a consensus target price of $49.81.

Devon Energy Trading Up 0.9 %

Shares of DVN traded up $0.31 during trading hours on Monday, hitting $34.24. 6,857,725 shares of the stock were exchanged, compared to its average volume of 8,429,619. Devon Energy Co. has a fifty-two week low of $30.39 and a fifty-two week high of $55.09. The business has a 50-day moving average of $35.97 and a 200-day moving average of $40.97. The firm has a market capitalization of $22.49 billion, a P/E ratio of 6.35, a price-to-earnings-growth ratio of 1.10 and a beta of 2.00. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.11 and a quick ratio of 1.01.

Devon Energy (NYSE:DVN) last issued its quarterly earnings results on Tuesday, November 5th. The energy company reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $1.09 by $0.01. The firm had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $3.72 billion. Devon Energy had a return on equity of 24.73% and a net margin of 21.71%. The business’s revenue was up 4.9% compared to the same quarter last year. During the same period last year, the business posted $1.65 EPS. On average, research analysts expect that Devon Energy Co. will post 4.79 EPS for the current year.

Devon Energy Dividend Announcement

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 $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 2.57%. The ex-dividend date of this dividend was Friday, December 13th. Devon Energy’s dividend payout ratio (DPR) is presently 16.33%.

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.