Edgestream Partners L.P. Has $1.96 Million Holdings in Devon Energy Co. (NYSE:DVN)

Edgestream Partners L.P. boosted its holdings in Devon Energy Co. (NYSE:DVN) by 592.6% in the 3rd quarter, Holdings Channel.com reports. The firm owned 50,001 shares of the energy company’s stock after acquiring an additional 42,782 shares during the period. Edgestream Partners L.P.’s holdings in Devon Energy were worth $1,956,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Point72 Europe London LLP acquired a new stake in shares of Devon Energy in the third quarter valued at approximately $3,212,000. White Knight Strategic Wealth Advisors LLC increased its stake in Devon Energy by 25.2% during the 3rd quarter. White Knight Strategic Wealth Advisors LLC now owns 21,792 shares of the energy company’s stock worth $853,000 after acquiring an additional 4,392 shares during the period. Captrust Financial Advisors raised its holdings in Devon Energy by 0.8% in the 3rd quarter. Captrust Financial Advisors now owns 1,390,882 shares of the energy company’s stock valued at $54,411,000 after acquiring an additional 10,890 shares in the last quarter. Rockefeller Capital Management L.P. lifted its position in shares of Devon Energy by 4.5% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 299,798 shares of the energy company’s stock valued at $11,733,000 after acquiring an additional 12,924 shares during the period. Finally, Martingale Asset Management L P acquired a new stake in shares of Devon Energy during the 3rd quarter worth $336,000. Institutional investors own 69.72% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on DVN. Benchmark reaffirmed a “hold” rating on shares of Devon Energy in a research note on Tuesday, October 15th. Royal Bank of Canada restated a “sector perform” rating and issued a $57.00 target price on shares of Devon Energy in a research report on Tuesday, September 3rd. Raymond James lowered their price target on Devon Energy from $58.00 to $51.00 in a report on Tuesday, November 5th. Mizuho reduced their price objective on Devon Energy from $53.00 to $51.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 9th. Finally, Evercore ISI dropped their target price on shares of Devon Energy from $55.00 to $50.00 and set an “in-line” rating for the company in a report on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, Devon Energy has an average rating of “Hold” and an average target price of $51.15.

Devon Energy Stock Down 0.9 %

Shares of Devon Energy stock opened at $37.61 on Tuesday. The firm has a market cap of $24.71 billion, a price-to-earnings ratio of 6.98, a PEG ratio of 1.20 and a beta of 2.03. The stock’s 50-day moving average is $39.68 and its 200 day moving average is $43.47. 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 Co. has a one year low of $37.15 and a one year high of $55.09.

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

Devon Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date of this dividend is Friday, December 13th. Devon Energy’s payout ratio is 16.33%.

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.