Global Retirement Partners LLC Takes Position in Devon Energy Corporation $DVN

Global Retirement Partners LLC bought a new stake in Devon Energy Corporation (NYSE:DVN) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor bought 7,573 shares of the energy company’s stock, valued at approximately $241,000.

Other hedge funds have also bought and sold shares of the company. SVB Wealth LLC raised its stake in Devon Energy by 4.1% in the first quarter. SVB Wealth LLC now owns 8,131 shares of the energy company’s stock valued at $304,000 after buying an additional 321 shares during the period. Yousif Capital Management LLC increased its holdings in shares of Devon Energy by 0.4% during the 2nd quarter. Yousif Capital Management LLC now owns 87,272 shares of the energy company’s stock worth $2,776,000 after acquiring an additional 321 shares during the last quarter. MAS Advisors LLC raised its stake in Devon Energy by 4.3% in the 2nd quarter. MAS Advisors LLC now owns 7,951 shares of the energy company’s stock valued at $253,000 after acquiring an additional 327 shares during the period. Callan Family Office LLC lifted its holdings in Devon Energy by 3.7% during the 1st quarter. Callan Family Office LLC now owns 10,581 shares of the energy company’s stock valued at $396,000 after purchasing an additional 377 shares during the last quarter. Finally, Argent Trust Co boosted its position in Devon Energy by 1.7% during the first quarter. Argent Trust Co now owns 23,229 shares of the energy company’s stock worth $869,000 after purchasing an additional 391 shares during the period. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

DVN has been the topic of several research analyst reports. Capital One Financial dropped their price objective on shares of Devon Energy from $52.00 to $51.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 11th. Susquehanna increased their price target on shares of Devon Energy from $40.00 to $42.00 and gave the company a “positive” rating in a report on Wednesday, November 12th. BMO Capital Markets cut their price objective on shares of Devon Energy from $51.00 to $50.00 in a research report on Tuesday, November 11th. Morgan Stanley decreased their target price on Devon Energy from $49.00 to $47.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 14th. Finally, Siebert Williams Shank lowered their target price on Devon Energy from $52.00 to $46.00 and set a “buy” rating on the stock in a research note on Monday, October 13th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $43.89.

Devon Energy Stock Up 2.1%

Shares of DVN opened at $37.83 on Tuesday. The company has a current ratio of 1.22, a quick ratio of 1.13 and a debt-to-equity ratio of 0.55. Devon Energy Corporation has a 12 month low of $25.89 and a 12 month high of $38.88. The firm’s 50 day moving average is $34.22 and its 200-day moving average is $33.71. The stock has a market capitalization of $23.73 billion, a PE ratio of 8.48, a P/E/G ratio of 2.49 and a beta of 1.01.

Devon Energy (NYSE:DVN) last issued its quarterly earnings results on Wednesday, November 5th. The energy company reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.11. Devon Energy had a return on equity of 18.59% and a net margin of 16.57%.The business had revenue of $0.00 million for the quarter, compared to the consensus estimate of $4.10 billion. During the same quarter in the prior year, the business posted $1.10 earnings per share. Equities research analysts forecast that Devon Energy Corporation will post 4.85 EPS for the current year.

Devon Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Monday, December 15th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend is Monday, December 15th. Devon Energy’s dividend payout ratio is 22.59%.

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.