2,641 Shares in Devon Energy Co. (NYSE:DVN) Acquired by Ashton Thomas Securities LLC

Ashton Thomas Securities LLC purchased a new stake in Devon Energy Co. (NYSE:DVN) in the 3rd quarter, according to its most recent filing with the SEC. The fund purchased 2,641 shares of the energy company’s stock, valued at approximately $103,000.

A number of other large investors also recently made changes to their positions in DVN. Triad Wealth Partners LLC purchased a new position in Devon Energy during the second quarter worth about $27,000. 1620 Investment Advisors Inc. acquired a new position in shares of Devon Energy during the 2nd quarter valued at about $34,000. Capital Performance Advisors LLP purchased a new position in shares of Devon Energy during the 3rd quarter worth about $35,000. PSI Advisors LLC boosted its position in shares of Devon Energy by 66.7% in the second quarter. PSI Advisors LLC now owns 750 shares of the energy company’s stock worth $36,000 after acquiring an additional 300 shares during the last quarter. Finally, LRI Investments LLC purchased a new stake in Devon Energy in the first quarter valued at approximately $39,000. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Analysts Set New Price Targets

DVN has been the topic of a number of recent analyst reports. Jefferies Financial Group assumed coverage on shares of Devon Energy in a research note on Thursday, October 3rd. They set a “hold” rating and a $45.00 price target on the stock. Barclays reduced their target price on Devon Energy from $55.00 to $46.00 and set an “equal weight” rating on the stock in a report on Thursday, October 3rd. Susquehanna dropped their price target on Devon Energy from $63.00 to $62.00 and set a “positive” rating for the company in a research note on Friday, October 18th. TD Cowen reduced their price objective on Devon Energy from $54.00 to $46.00 and set a “hold” rating on the stock in a research note on Tuesday, November 5th. Finally, Sanford C. Bernstein dropped their target price on shares of Devon Energy from $48.00 to $43.00 and set a “market perform” rating for the company in a research report on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $51.80.

Devon Energy Stock Performance

Devon Energy stock opened at $38.33 on Wednesday. Devon Energy Co. has a 52 week low of $37.76 and a 52 week high of $55.09. The company has a current ratio of 1.11, a quick ratio of 1.03 and a debt-to-equity ratio of 0.61. The stock has a market cap of $25.18 billion, a P/E ratio of 7.11, a price-to-earnings-growth ratio of 1.21 and a beta of 2.03. The stock has a 50 day moving average of $40.27 and a 200-day moving average of $44.59.

Devon Energy (NYSE:DVN) last announced its quarterly earnings data on Tuesday, November 5th. The energy company reported $1.10 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.01. The company had revenue of $4.02 billion during the quarter, compared to analyst estimates of $3.72 billion. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period last year, the business earned $1.65 EPS. On average, analysts expect that Devon Energy Co. will post 4.89 EPS for the current fiscal year.

Devon Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.30%. The ex-dividend date of this dividend is Friday, December 13th. Devon Energy’s payout ratio is currently 16.33%.

Devon Energy Company 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.