Prime Capital Investment Advisors LLC bought a new stake in shares of Devon Energy Corp (NYSE:DVN) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 5,760 shares of the energy company’s stock, valued at approximately $182,000.
Several other institutional investors and hedge funds have also added to or reduced their stakes in DVN. Winslow Evans & Crocker Inc. bought a new position in shares of Devon Energy during the fourth quarter valued at approximately $26,000. Lindbrook Capital LLC bought a new position in shares of Devon Energy during the fourth quarter valued at approximately $26,000. Meeder Asset Management Inc. grew its stake in shares of Devon Energy by 94.6% during the first quarter. Meeder Asset Management Inc. now owns 823 shares of the energy company’s stock valued at $26,000 after buying an additional 400 shares during the last quarter. Duncker Streett & Co. Inc. grew its stake in shares of Devon Energy by 40.5% during the fourth quarter. Duncker Streett & Co. Inc. now owns 1,600 shares of the energy company’s stock valued at $36,000 after buying an additional 461 shares during the last quarter. Finally, Lavaca Capital LLC grew its stake in shares of Devon Energy by 566.0% during the first quarter. Lavaca Capital LLC now owns 1,332 shares of the energy company’s stock valued at $42,000 after buying an additional 1,132 shares during the last quarter. 87.04% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE DVN opened at $32.83 on Wednesday. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.63. The firm has a market cap of $14.39 billion, a price-to-earnings ratio of 25.45, a P/E/G ratio of 1.47 and a beta of 2.26. Devon Energy Corp has a 12-month low of $20.37 and a 12-month high of $46.54.
Devon Energy (NYSE:DVN) last announced its earnings results on Tuesday, February 19th. The energy company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.21). The company had revenue of $3.71 billion for the quarter, compared to the consensus estimate of $1.97 billion. Devon Energy had a net margin of 24.82% and a return on equity of 5.73%. During the same period last year, the business posted $0.38 EPS. As a group, equities research analysts expect that Devon Energy Corp will post 1.66 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.10%. The ex-dividend date of this dividend is Thursday, June 13th. This is a boost from Devon Energy’s previous quarterly dividend of $0.08. Devon Energy’s dividend payout ratio (DPR) is 24.81%.
Several research analysts recently issued reports on the company. Zacks Investment Research cut Devon Energy from a “buy” rating to a “hold” rating in a research note on Tuesday. Barclays reissued a “hold” rating and issued a $36.00 price objective on shares of Devon Energy in a research note on Thursday, April 11th. ValuEngine raised Devon Energy from a “sell” rating to a “hold” rating in a research note on Friday, March 15th. Royal Bank of Canada cut Devon Energy from an “outperform” rating to a “sector perform” rating and dropped their price objective for the stock from $39.00 to $38.00 in a research note on Friday, March 1st. Finally, MKM Partners increased their price objective on Devon Energy from $33.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday, February 21st. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and twelve have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $45.30.
In related news, Director Robert H. Henry bought 11,651 shares of the company’s stock in a transaction on Wednesday, February 27th. The shares were acquired at an average price of $30.01 per share, with a total value of $349,646.51. Following the transaction, the director now owns 21,355 shares of the company’s stock, valued at $640,863.55. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.55% of the stock is currently owned by company insiders.
Devon Energy Profile
Devon Energy Corporation, an independent energy company, primarily engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States and Canada. It operates approximately 12,900 gross wells. The company was founded in 1971 and is headquartered in Oklahoma City, Oklahoma.
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