Devon Energy Co. (NYSE:DVN) Holdings Raised by Kovack Advisors Inc.

Kovack Advisors Inc. increased its stake in Devon Energy Co. (NYSE:DVN) by 159.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,775 shares of the energy company’s stock after purchasing an additional 26,295 shares during the quarter. Kovack Advisors Inc.’s holdings in Devon Energy were worth $1,938,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of DVN. Bryn Mawr Capital Management LLC acquired a new stake in shares of Devon Energy during the 4th quarter valued at $363,000. Syon Capital LLC lifted its stake in Devon Energy by 5.6% in the fourth quarter. Syon Capital LLC now owns 14,957 shares of the energy company’s stock valued at $678,000 after acquiring an additional 791 shares during the last quarter. Yacktman Asset Management LP raised its holdings in shares of Devon Energy by 6.9% during the 4th quarter. Yacktman Asset Management LP now owns 3,253,163 shares of the energy company’s stock valued at $147,368,000 after purchasing an additional 208,944 shares in the last quarter. Pittenger & Anderson Inc. increased its position in Devon Energy by 2,222.2% during the fourth quarter. Pittenger & Anderson Inc. now owns 2,090 shares of the energy company’s stock worth $95,000 after buying an additional 2,000 shares during the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. raised its holdings in Devon Energy by 7.5% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 17,663 shares of the energy company’s stock valued at $800,000 after buying an additional 1,229 shares in the last quarter. Institutional investors and hedge funds own 69.72% of the company’s stock.

Devon Energy Stock Performance

Shares of NYSE DVN traded up $0.10 during mid-day trading on Friday, reaching $52.71. 4,618,432 shares of the company were exchanged, compared to its average volume of 6,726,952. The stock has a market capitalization of $33.47 billion, a P/E ratio of 9.04 and a beta of 2.19. The company’s 50-day simple moving average is $48.88 and its 200-day simple moving average is $46.18. The company has a quick ratio of 0.99, a current ratio of 1.07 and a debt-to-equity ratio of 0.46. Devon Energy Co. has a twelve month low of $40.47 and a twelve month high of $55.09.

Devon Energy (NYSE:DVN) last posted its quarterly earnings results on Tuesday, February 27th. The energy company reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.02. The business had revenue of $4.15 billion for the quarter, compared to analyst estimates of $3.88 billion. Devon Energy had a net margin of 24.56% and a return on equity of 31.72%. The firm’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter last year, the business posted $1.66 EPS. As a group, research analysts predict that Devon Energy Co. will post 5.25 earnings per share for the current year.

Devon Energy Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were issued a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 3.34%. The ex-dividend date of this dividend was Thursday, March 14th. Devon Energy’s payout ratio is presently 15.09%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Morgan Stanley upped their target price on Devon Energy from $49.00 to $50.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Stifel Nicolaus boosted their price objective on Devon Energy from $65.00 to $66.00 and gave the stock a “buy” rating in a research report on Tuesday. Mizuho lowered their target price on Devon Energy from $54.00 to $53.00 and set a “buy” rating on the stock in a report on Thursday, January 11th. Scotiabank increased their price objective on Devon Energy from $53.00 to $67.00 and gave the company a “sector outperform” rating in a research report on Thursday, April 11th. Finally, Susquehanna boosted their target price on shares of Devon Energy from $52.00 to $65.00 and gave the stock a “positive” rating in a research report on Monday, April 22nd. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Devon Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $58.33.

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.