Devon Energy Co. (NYSE:DVN) Holdings Increased by Atria Investments Inc

Atria Investments Inc increased its stake in Devon Energy Co. (NYSE:DVN) by 4.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 84,990 shares of the energy company’s stock after acquiring an additional 3,393 shares during the period. Atria Investments Inc’s holdings in Devon Energy were worth $3,325,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. William B. Walkup & Associates Inc. acquired a new position in shares of Devon Energy during the 2nd quarter valued at $1,026,000. Gordian Capital Singapore Pte Ltd bought a new position in Devon Energy during the second quarter valued at about $711,000. New York State Teachers Retirement System grew its holdings in Devon Energy by 14.2% during the third quarter. New York State Teachers Retirement System now owns 704,831 shares of the energy company’s stock worth $27,573,000 after acquiring an additional 87,462 shares during the period. CWM LLC raised its position in Devon Energy by 73.4% in the third quarter. CWM LLC now owns 38,969 shares of the energy company’s stock worth $1,524,000 after acquiring an additional 16,490 shares in the last quarter. Finally, J.W. Cole Advisors Inc. lifted its holdings in Devon Energy by 11.9% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 120,800 shares of the energy company’s stock valued at $4,726,000 after acquiring an additional 12,882 shares during the last quarter. Institutional investors and hedge funds own 69.72% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on DVN. Morgan Stanley dropped their target price on shares of Devon Energy from $55.00 to $51.00 and set an “overweight” rating on the stock in a report on Monday, September 16th. Wolfe Research began coverage on Devon Energy in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. Sanford C. Bernstein reduced their price objective on Devon Energy from $48.00 to $43.00 and set a “market perform” rating for the company in a research note on Wednesday, July 17th. TD Cowen cut their target price on Devon Energy from $54.00 to $46.00 and set a “hold” rating on the stock in a research report on Tuesday, November 5th. Finally, UBS Group decreased their price target on Devon Energy from $53.00 to $47.00 and set a “neutral” rating for the company in a research report on Wednesday, September 18th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $51.80.

Devon Energy Price Performance

Shares of NYSE:DVN opened at $39.10 on Thursday. The firm has a market cap of $25.68 billion, a price-to-earnings ratio of 7.25, a P/E/G ratio of 1.19 and a beta of 2.03. Devon Energy Co. has a 1 year low of $37.76 and a 1 year high of $55.09. The company has a current ratio of 1.11, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. The business has a fifty day simple moving average of $40.20 and a 200 day simple moving average of $44.55.

Devon Energy (NYSE:DVN) last announced its quarterly earnings results on Tuesday, November 5th. The energy company reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.01. The business had revenue of $4.02 billion during the quarter, compared to analyst estimates of $3.72 billion. Devon Energy had a return on equity of 24.73% and a net margin of 21.71%. The firm’s revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.65 EPS. As a group, sell-side analysts predict that Devon Energy Co. will post 4.86 earnings per share for the current fiscal year.

Devon Energy Dividend Announcement

The firm 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. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.25%. Devon Energy’s dividend payout ratio is currently 16.33%.

About Devon Energy

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.