Commonwealth Equity Services LLC Buys 75,851 Shares of Devon Energy Co. (NYSE:DVN)

Commonwealth Equity Services LLC lifted its holdings in Devon Energy Co. (NYSE:DVN) by 23.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 403,505 shares of the energy company’s stock after purchasing an additional 75,851 shares during the quarter. Commonwealth Equity Services LLC owned 0.06% of Devon Energy worth $13,207,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. True Wealth Design LLC grew its holdings in shares of Devon Energy by 3,889.3% in the third quarter. True Wealth Design LLC now owns 1,117 shares of the energy company’s stock valued at $44,000 after purchasing an additional 1,089 shares in the last quarter. Cromwell Holdings LLC boosted its stake in Devon Energy by 98.0% during the fourth quarter. Cromwell Holdings LLC now owns 1,208 shares of the energy company’s stock worth $40,000 after buying an additional 598 shares during the period. Activest Wealth Management boosted its stake in Devon Energy by 60.4% during the third quarter. Activest Wealth Management now owns 1,275 shares of the energy company’s stock worth $50,000 after buying an additional 480 shares during the period. Sierra Ocean LLC purchased a new position in Devon Energy during the fourth quarter worth $43,000. Finally, Endeavor Private Wealth Inc. purchased a new position in Devon Energy during the fourth quarter worth $52,000. 69.72% of the stock is owned by hedge funds and other institutional investors.

Devon Energy Stock Performance

DVN stock opened at $35.35 on Wednesday. The firm has a market cap of $22.94 billion, a price-to-earnings ratio of 7.75, a PEG ratio of 1.20 and a beta of 1.91. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.01 and a current ratio of 1.04. The firm has a 50-day simple moving average of $35.42 and a two-hundred day simple moving average of $37.14. Devon Energy Co. has a one year low of $30.39 and a one year high of $55.09.

Devon Energy (NYSE:DVN) last announced its quarterly earnings data on Tuesday, February 18th. The energy company reported $1.16 EPS for the quarter, beating the consensus estimate of $1.00 by $0.16. Devon Energy had a net margin of 18.14% and a return on equity of 22.52%. The firm had revenue of $4.40 billion during the quarter, compared to analyst estimates of $4.25 billion. On average, equities analysts forecast that Devon Energy Co. will post 4.85 EPS for the current fiscal year.

Devon Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.72%. The ex-dividend date is Friday, March 14th. This is an increase from Devon Energy’s previous quarterly dividend of $0.22. Devon Energy’s dividend payout ratio is 21.05%.

Analyst Upgrades and Downgrades

Several research analysts have commented on DVN shares. Wells Fargo & Company dropped their price objective on shares of Devon Energy from $49.00 to $43.00 and set an “overweight” rating for the company in a research note on Tuesday, December 17th. Barclays upped their price target on shares of Devon Energy from $43.00 to $44.00 and gave the stock an “equal weight” rating in a report on Thursday, February 20th. StockNews.com upgraded shares of Devon Energy from a “sell” rating to a “hold” rating in a report on Friday, January 3rd. Citigroup cut their price target on shares of Devon Energy from $48.00 to $46.00 and set a “buy” rating on the stock in a report on Monday. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $50.00 price target on shares of Devon Energy in a report on Friday, January 10th. Ten research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $48.46.

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.