CreativeOne Wealth LLC Purchases 2,994 Shares of Devon Energy Co. (NYSE:DVN)

CreativeOne Wealth LLC raised its position in Devon Energy Co. (NYSE:DVN) by 15.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,176 shares of the energy company’s stock after acquiring an additional 2,994 shares during the quarter. CreativeOne Wealth LLC’s holdings in Devon Energy were worth $868,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of DVN. Triad Wealth Partners LLC purchased a new position in Devon Energy during the 2nd quarter valued at about $27,000. 1620 Investment Advisors Inc. bought a new stake in shares of Devon Energy in the 2nd quarter worth approximately $34,000. PSI Advisors LLC increased its stake in shares of Devon Energy by 66.7% during the second quarter. PSI Advisors LLC now owns 750 shares of the energy company’s stock valued at $36,000 after buying an additional 300 shares during the period. Capital Performance Advisors LLP bought a new position in shares of Devon Energy during the third quarter valued at approximately $35,000. Finally, Versant Capital Management Inc lifted its stake in Devon Energy by 30.4% in the second quarter. Versant Capital Management Inc now owns 970 shares of the energy company’s stock worth $46,000 after acquiring an additional 226 shares during the period. 69.72% of the stock is owned by institutional investors.

Devon Energy Price Performance

Shares of NYSE DVN opened at $37.95 on Friday. The firm has a market cap of $24.93 billion, a P/E ratio of 7.04, a PEG ratio of 1.20 and a beta of 2.03. Devon Energy Co. has a twelve month low of $37.28 and a twelve month high of $55.09. The company has a quick ratio of 1.01, a current ratio of 1.11 and a debt-to-equity ratio of 0.61. The company has a 50 day moving average of $39.68 and a 200 day moving average of $43.56.

Devon Energy (NYSE:DVN) last posted its quarterly 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. Devon Energy had a return on equity of 24.73% and a net margin of 21.71%. The firm had revenue of $4.02 billion during the quarter, compared to analysts’ expectations of $3.72 billion. During the same quarter in the previous year, the business earned $1.65 earnings per share. The company’s revenue was up 4.9% on a year-over-year basis. As a group, research analysts expect that Devon Energy Co. will post 4.79 EPS for the current fiscal year.

Devon Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date is Friday, December 13th. Devon Energy’s payout ratio is presently 16.33%.

Analyst Ratings Changes

DVN has been the topic of a number of research analyst reports. Mizuho reduced their price objective on shares of Devon Energy from $53.00 to $51.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 9th. Evercore ISI reduced 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 research report on Monday, September 30th. Jefferies Financial Group started coverage on shares of Devon Energy in a report on Thursday, October 3rd. They issued a “hold” rating and a $45.00 price objective for the company. JPMorgan Chase & Co. reduced their target price on Devon Energy from $64.00 to $51.00 and set an “overweight” rating on the stock in a report on Thursday, September 12th. Finally, StockNews.com cut Devon Energy from a “hold” rating to a “sell” rating in a research note on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $51.15.

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.