Altus Wealth Group LLC Acquires 3,443 Shares of Devon Energy Co. (NYSE:DVN)

Altus Wealth Group LLC lifted its holdings in Devon Energy Co. (NYSE:DVN) by 38.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,441 shares of the energy company’s stock after acquiring an additional 3,443 shares during the period. Altus Wealth Group LLC’s holdings in Devon Energy were worth $487,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the business. Retirement Group LLC raised its position in shares of Devon Energy by 21.8% in the 1st quarter. Retirement Group LLC now owns 1,110 shares of the energy company’s stock worth $56,000 after acquiring an additional 199 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its stake in shares of Devon Energy by 7.4% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 3,046 shares of the energy company’s stock valued at $153,000 after buying an additional 209 shares during the period. MCF Advisors LLC grew its stake in shares of Devon Energy by 5.6% in the 1st quarter. MCF Advisors LLC now owns 4,023 shares of the energy company’s stock valued at $202,000 after buying an additional 215 shares during the period. Annex Advisory Services LLC grew its stake 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 buying an additional 223 shares during the period. Finally, Versant Capital Management Inc grew its stake in shares of Devon Energy by 30.4% in the 2nd quarter. Versant Capital Management Inc now owns 970 shares of the energy company’s stock valued at $46,000 after buying an additional 226 shares during the period. 69.72% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on DVN shares. Wells Fargo & Company reiterated a “sector outperform” rating on shares of Devon Energy in a research note on Friday, October 18th. Barclays cut their target price on Devon Energy from $55.00 to $46.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 3rd. JPMorgan Chase & Co. cut their target price on Devon Energy from $64.00 to $51.00 and set an “overweight” rating on the stock in a research note on Thursday, September 12th. Benchmark restated a “hold” rating on shares of Devon Energy in a research note on Tuesday, October 15th. Finally, Scotiabank cut their target price on 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. Nine equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, Devon Energy has a consensus rating of “Moderate Buy” and a consensus target price of $52.53.

Devon Energy Trading Down 1.2 %

Shares of NYSE DVN traded down $0.49 during trading hours on Wednesday, hitting $39.68. The company’s stock had a trading volume of 1,129,388 shares, compared to its average volume of 7,311,254. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.03 and a current ratio of 1.11. Devon Energy Co. has a 12 month low of $37.76 and a 12 month high of $55.09. The business has a 50-day simple moving average of $41.96 and a 200-day simple moving average of $46.05. The stock has a market cap of $25.08 billion, a price-to-earnings ratio of 7.67, a P/E/G ratio of 1.27 and a beta of 2.02.

Devon Energy (NYSE:DVN) last issued its quarterly earnings data on Tuesday, August 6th. The energy company reported $1.41 EPS for the quarter, topping the consensus estimate of $1.26 by $0.15. Devon Energy had a net margin of 22.60% and a return on equity of 29.14%. The business had revenue of $3.92 billion during the quarter, compared to analyst estimates of $3.90 billion. During the same period last year, the business posted $1.18 earnings per share. Devon Energy’s quarterly revenue was up 13.4% compared to the same quarter last year. On average, analysts anticipate that Devon Energy Co. will post 5.01 earnings per share for the current fiscal year.

Devon Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were issued a $0.22 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.88 annualized dividend and a yield of 2.22%. Devon Energy’s dividend payout ratio (DPR) is presently 16.79%.

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.