EverSource Wealth Advisors LLC Increases Stock Position in Devon Energy Co. (NYSE:DVN)

EverSource Wealth Advisors LLC raised its holdings in Devon Energy Co. (NYSE:DVN) by 4.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,954 shares of the energy company’s stock after purchasing an additional 721 shares during the period. EverSource Wealth Advisors LLC’s holdings in Devon Energy were worth $588,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the company. Apollon Wealth Management LLC raised its stake in Devon Energy by 9.4% during the third quarter. Apollon Wealth Management LLC now owns 43,277 shares of the energy company’s stock worth $1,693,000 after purchasing an additional 3,715 shares during the period. KBC Group NV raised its stake in Devon Energy by 14.0% during the third quarter. KBC Group NV now owns 72,780 shares of the energy company’s stock worth $2,847,000 after purchasing an additional 8,920 shares during the period. Metis Global Partners LLC raised its stake in Devon Energy by 9.7% during the third quarter. Metis Global Partners LLC now owns 27,179 shares of the energy company’s stock worth $1,063,000 after purchasing an additional 2,392 shares during the period. Tokio Marine Asset Management Co. Ltd. raised its stake in Devon Energy by 7.3% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 21,609 shares of the energy company’s stock worth $845,000 after purchasing an additional 1,469 shares during the period. Finally, Oak Harbor Wealth Partners LLC raised its stake in Devon Energy by 8.6% during the third quarter. Oak Harbor Wealth Partners LLC now owns 34,727 shares of the energy company’s stock worth $1,359,000 after purchasing an additional 2,742 shares during the period. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Barclays increased their price objective on shares of Devon Energy from $43.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 20th. Williams Trading set a $50.00 price target on shares of Devon Energy in a report on Wednesday, March 5th. StockNews.com raised shares of Devon Energy from a “sell” rating to a “hold” rating in a report on Friday, January 3rd. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $50.00 price target on shares of Devon Energy in a report on Friday, January 10th. Finally, Wells Fargo & Company lowered their price target on shares of Devon Energy from $49.00 to $43.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th. One analyst has rated the stock with a sell rating, ten have given a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, Devon Energy has a consensus rating of “Moderate Buy” and an average target price of $48.54.

Devon Energy Trading Up 2.1 %

Shares of NYSE:DVN opened at $34.50 on Friday. The company has a market cap of $22.39 billion, a PE ratio of 7.56, a P/E/G ratio of 1.20 and a beta of 1.91. The company’s 50-day moving average price is $35.38 and its 200 day moving average price is $37.37. Devon Energy Co. has a fifty-two week low of $30.39 and a fifty-two week high of $55.09. The company has a quick ratio of 1.01, a current ratio of 1.04 and a debt-to-equity ratio of 0.57.

Devon Energy (NYSE:DVN) last issued its quarterly earnings data on Tuesday, February 18th. The energy company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.16. The firm had revenue of $4.40 billion for the quarter, compared to the consensus estimate of $4.25 billion. Devon Energy had a net margin of 18.14% and a return on equity of 22.52%. Sell-side analysts anticipate that Devon Energy Co. will post 4.85 earnings per share for the current year.

Devon Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a dividend of $0.24 per share. This is a boost from Devon Energy’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.96 annualized dividend and a yield of 2.78%. Devon Energy’s dividend payout ratio (DPR) is presently 21.05%.

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.