Greatmark Investment Partners Inc. Has $15.92 Million Stake in Devon Energy Co. (NYSE:DVN)

Greatmark Investment Partners Inc. raised its stake in Devon Energy Co. (NYSE:DVN) by 2.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 351,464 shares of the energy company’s stock after buying an additional 6,932 shares during the period. Devon Energy comprises about 2.5% of Greatmark Investment Partners Inc.’s portfolio, making the stock its 14th biggest position. Greatmark Investment Partners Inc. owned 0.05% of Devon Energy worth $15,921,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Annis Gardner Whiting Capital Advisors LLC acquired a new position in shares of Devon Energy in the 3rd quarter worth approximately $27,000. Sound Income Strategies LLC grew its holdings in Devon Energy by 60.7% during the 4th quarter. Sound Income Strategies LLC now owns 675 shares of the energy company’s stock worth $31,000 after acquiring an additional 255 shares during the period. Rise Advisors LLC lifted its stake in shares of Devon Energy by 1,365.3% in the 4th quarter. Rise Advisors LLC now owns 718 shares of the energy company’s stock valued at $33,000 after purchasing an additional 669 shares during the period. PFS Partners LLC acquired a new stake in Devon Energy during the fourth quarter worth approximately $36,000. Finally, Naples Money Management LLC acquired a new position in Devon Energy in the fourth quarter valued at approximately $40,000. Institutional investors and hedge funds own 69.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on DVN shares. Royal Bank of Canada restated a “sector perform” rating and issued a $55.00 price target on shares of Devon Energy in a report on Thursday, March 7th. Mizuho dropped their price objective on shares of Devon Energy from $54.00 to $53.00 and set a “buy” rating on the stock in a report on Thursday, January 11th. Raymond James dropped their price objective on shares of Devon Energy from $53.00 to $52.00 and set an “outperform” rating on the stock in a report on Wednesday, January 24th. Wells Fargo & Company upgraded shares of Devon Energy from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $46.00 to $59.00 in a report on Monday, April 1st. Finally, Barclays started coverage on shares of Devon Energy in a report on Wednesday, April 10th. They issued an “equal weight” rating and a $59.00 target price on the stock. Five analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $58.33.

Devon Energy Trading Up 0.5 %

Shares of DVN traded up $0.28 during trading hours on Monday, reaching $52.99. 2,560,816 shares of the company traded hands, compared to its average volume of 7,790,930. Devon Energy Co. has a 12 month low of $40.47 and a 12 month high of $55.09. The company has a quick ratio of 0.99, a current ratio of 1.07 and a debt-to-equity ratio of 0.46. The company’s fifty day moving average price is $48.88 and its two-hundred day moving average price is $46.18. The company has a market capitalization of $33.65 billion, a price-to-earnings ratio of 9.12 and a beta of 2.19.

Devon Energy (NYSE:DVN) last issued its earnings results on Tuesday, February 27th. The energy company reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.02. Devon Energy had a net margin of 24.56% and a return on equity of 31.72%. The business had revenue of $4.15 billion during the quarter, compared to analysts’ expectations of $3.88 billion. During the same period in the previous year, the company earned $1.66 earnings per share. The business’s revenue for the quarter was down 3.6% compared to the same quarter last year. Equities research analysts predict that Devon Energy Co. will post 5.28 earnings per share for the current fiscal year.

Devon Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were given a dividend of $0.44 per share. The ex-dividend date was Thursday, March 14th. This represents a $1.76 annualized dividend and a yield of 3.32%. Devon Energy’s dividend payout ratio (DPR) is 15.09%.

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.