Devon Energy Co. (NYSE:DVN) Shares Purchased by U.S. Capital Wealth Advisors LLC

U.S. Capital Wealth Advisors LLC raised its position in Devon Energy Co. (NYSE:DVN) by 8.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 156,424 shares of the energy company’s stock after buying an additional 12,203 shares during the period. U.S. Capital Wealth Advisors LLC’s holdings in Devon Energy were worth $7,086,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Lord Abbett & CO. LLC grew its holdings in Devon Energy by 15.5% during the 3rd quarter. Lord Abbett & CO. LLC now owns 549,710 shares of the energy company’s stock worth $26,221,000 after acquiring an additional 73,570 shares in the last quarter. Nordea Investment Management AB grew its stake in Devon Energy by 2.7% in the third quarter. Nordea Investment Management AB now owns 373,757 shares of the energy company’s stock worth $17,974,000 after purchasing an additional 9,823 shares in the last quarter. Atria Investments Inc increased its holdings in Devon Energy by 64.4% in the third quarter. Atria Investments Inc now owns 54,639 shares of the energy company’s stock valued at $2,606,000 after buying an additional 21,400 shares during the last quarter. Pearl River Capital LLC raised its stake in Devon Energy by 367.7% during the third quarter. Pearl River Capital LLC now owns 75,042 shares of the energy company’s stock valued at $3,580,000 after buying an additional 58,997 shares in the last quarter. Finally, Argent Trust Co lifted its holdings in Devon Energy by 22.1% during the 3rd quarter. Argent Trust Co now owns 86,795 shares of the energy company’s stock worth $4,140,000 after buying an additional 15,715 shares during the last quarter. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Devon Energy Price Performance

Shares of DVN stock traded up $0.20 during midday trading on Friday, reaching $50.54. 8,953,763 shares of the company were exchanged, compared to its average volume of 7,073,719. The company’s 50 day moving average price is $49.62 and its two-hundred day moving average price is $46.28. The company has a market cap of $32.09 billion, a P/E ratio of 9.65 and a beta of 2.16. Devon Energy Co. has a 12 month low of $40.47 and a 12 month high of $55.09. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.99 and a current ratio of 1.04.

Devon Energy (NYSE:DVN) last announced its earnings results on Wednesday, May 1st. The energy company reported $1.16 EPS for the quarter, topping the consensus estimate of $1.10 by $0.06. Devon Energy had a return on equity of 29.02% and a net margin of 22.27%. The firm had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $3.64 billion. During the same quarter in the previous year, the company earned $1.46 earnings per share. The firm’s quarterly revenue was down 5.9% compared to the same quarter last year. On average, sell-side analysts expect that Devon Energy Co. will post 5.24 earnings per share for the current year.

Devon Energy Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be paid a dividend of $0.22 per share. The ex-dividend date is Friday, June 14th. This represents a $0.88 annualized dividend and a yield of 1.74%. Devon Energy’s dividend payout ratio is currently 16.79%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on DVN shares. Scotiabank boosted their price target on Devon Energy from $53.00 to $67.00 and gave the company a “sector outperform” rating in a report on Thursday, April 11th. Barclays assumed coverage on shares of Devon Energy in a research report on Wednesday, April 10th. They issued an “equal weight” rating and a $59.00 price target on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $55.00 price objective on shares of Devon Energy in a research report on Thursday, March 7th. Piper Sandler raised their target price on shares of Devon Energy from $59.00 to $60.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. Finally, StockNews.com upgraded Devon Energy from a “hold” rating to a “buy” rating in a research report on Friday. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, Devon Energy presently has an average rating of “Moderate Buy” and an average target price of $58.44.

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.