MCF Advisors LLC Acquires 2,306 Shares of Devon Energy Co. (NYSE:DVN)

MCF Advisors LLC increased its holdings in shares of Devon Energy Co. (NYSE:DVN) by 60.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 6,109 shares of the energy company’s stock after purchasing an additional 2,306 shares during the quarter. MCF Advisors LLC’s holdings in Devon Energy were worth $200,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. Segment Wealth Management LLC increased its stake in Devon Energy by 4.5% during the 4th quarter. Segment Wealth Management LLC now owns 8,952 shares of the energy company’s stock worth $293,000 after purchasing an additional 385 shares in the last quarter. Perpetual Ltd grew its stake in shares of Devon Energy by 165.2% during the 4th quarter. Perpetual Ltd now owns 16,268 shares of the energy company’s stock worth $532,000 after acquiring an additional 10,133 shares in the last quarter. Lmcg Investments LLC grew its stake in shares of Devon Energy by 1.6% during the 4th quarter. Lmcg Investments LLC now owns 56,858 shares of the energy company’s stock worth $1,861,000 after acquiring an additional 896 shares in the last quarter. Ballentine Partners LLC grew its stake in shares of Devon Energy by 4.2% during the 4th quarter. Ballentine Partners LLC now owns 10,129 shares of the energy company’s stock worth $332,000 after acquiring an additional 404 shares in the last quarter. Finally, Culbertson A N & Co. Inc. grew its stake in shares of Devon Energy by 36.4% during the 4th quarter. Culbertson A N & Co. Inc. now owns 32,611 shares of the energy company’s stock worth $1,067,000 after acquiring an additional 8,698 shares in the last quarter. 69.72% of the stock is owned by institutional investors.

Devon Energy Stock Down 0.7 %

Shares of NYSE DVN opened at $36.46 on Thursday. 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 company has a market cap of $23.95 billion, a price-to-earnings ratio of 6.76, a PEG ratio of 1.26 and a beta of 2.00. Devon Energy Co. has a 12 month low of $30.39 and a 12 month high of $55.09. The stock has a 50-day moving average price of $35.37 and a two-hundred day moving average price of $40.05.

Devon Energy (NYSE:DVN) last issued its earnings results on Tuesday, November 5th. The energy company reported $1.10 EPS for the quarter, topping the consensus estimate of $1.09 by $0.01. The firm had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $3.72 billion. Devon Energy had a return on equity of 24.73% and a net margin of 21.71%. The business’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.65 earnings per share. As a group, analysts forecast that Devon Energy Co. will post 4.68 earnings per share for the current fiscal year.

Devon Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Friday, December 13th were paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.41%. The ex-dividend date of this dividend was Friday, December 13th. Devon Energy’s payout ratio is 16.33%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on DVN. Jefferies Financial Group began 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 for the company. StockNews.com raised shares of Devon Energy from a “sell” rating to a “hold” rating in a research note on Friday, January 3rd. Raymond James cut their price objective on Devon Energy from $58.00 to $51.00 in a report on Tuesday, November 5th. Barclays cut their price objective on Devon Energy from $55.00 to $46.00 and set an “equal weight” rating for the company in a report on Thursday, October 3rd. Finally, Susquehanna cut their price objective on Devon Energy from $63.00 to $62.00 and set a “positive” rating for the company in a report on Friday, October 18th. Nine 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, the company presently has a consensus rating of “Moderate Buy” and an average price target of $49.27.

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.