Devon Energy Co. (NYSE:DVN) Shares Acquired by First Dallas Securities Inc.

First Dallas Securities Inc. raised its holdings in shares of Devon Energy Co. (NYSE:DVN) by 183.3% in the 3rd quarter, HoldingsChannel reports. The fund owned 39,955 shares of the energy company’s stock after buying an additional 25,854 shares during the quarter. First Dallas Securities Inc.’s holdings in Devon Energy were worth $1,563,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in DVN. Archer Investment Corp increased its stake in Devon Energy by 2.8% in the second quarter. Archer Investment Corp now owns 8,535 shares of the energy company’s stock valued at $405,000 after purchasing an additional 235 shares during the period. Institute for Wealth Management LLC. grew its holdings in shares of Devon Energy by 4.0% during the second quarter. Institute for Wealth Management LLC. now owns 6,234 shares of the energy company’s stock worth $296,000 after buying an additional 237 shares during the last quarter. SkyOak Wealth LLC increased its position in Devon Energy by 4.1% in the 2nd quarter. SkyOak Wealth LLC now owns 6,297 shares of the energy company’s stock valued at $298,000 after acquiring an additional 250 shares during the period. SeaCrest Wealth Management LLC raised its stake in Devon Energy by 0.8% during the 2nd quarter. SeaCrest Wealth Management LLC now owns 33,340 shares of the energy company’s stock valued at $1,580,000 after acquiring an additional 252 shares during the last quarter. Finally, Riversedge Advisors LLC raised its stake in Devon Energy by 3.6% during the 3rd quarter. Riversedge Advisors LLC now owns 7,336 shares of the energy company’s stock valued at $287,000 after acquiring an additional 253 shares during the last quarter. Institutional investors and hedge funds own 69.72% of the company’s stock.

Devon Energy Trading Up 1.5 %

Shares of DVN stock opened at $35.52 on Tuesday. The firm’s 50 day moving average price is $39.28 and its two-hundred day moving average price is $42.93. The company has a quick ratio of 1.01, a current ratio of 1.11 and a debt-to-equity ratio of 0.61. Devon Energy Co. has a fifty-two week low of $34.76 and a fifty-two week high of $55.09. The stock has a market cap of $23.33 billion, a price-to-earnings ratio of 6.59, a price-to-earnings-growth ratio of 1.11 and a beta of 1.99.

Devon Energy (NYSE:DVN) last issued its earnings results on Tuesday, November 5th. The energy company reported $1.10 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.01. The company 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 company’s revenue was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.65 earnings per share. On average, analysts anticipate that Devon Energy Co. will post 4.79 EPS for the current year.

Devon Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, December 13th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 2.48%. The ex-dividend date is Friday, December 13th. Devon Energy’s dividend payout ratio (DPR) is 16.33%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on DVN. JPMorgan Chase & Co. lowered shares of Devon Energy from an “overweight” rating to a “neutral” rating and set a $43.00 price objective on the stock. in a research report on Thursday, December 5th. 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 report on Thursday, October 10th. Benchmark reissued a “hold” rating on shares of Devon Energy in a research note on Tuesday, October 15th. Susquehanna lowered their price target on Devon Energy from $63.00 to $62.00 and set a “positive” rating on the stock in a report on Friday, October 18th. Finally, Jefferies Financial Group started coverage on Devon Energy in a report on Thursday, October 3rd. They set a “hold” rating and a $45.00 price objective for the company. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $50.75.

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.