Wellington Shields & Co. LLC Has $894,000 Stock Holdings in Devon Energy Corporation (NYSE:DVN)

Wellington Shields & Co. LLC grew its holdings in Devon Energy Corporation (NYSE:DVN) by 10.0% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 23,908 shares of the energy company’s stock after buying an additional 2,165 shares during the quarter. Wellington Shields & Co. LLC’s holdings in Devon Energy were worth $894,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the business. Resona Asset Management Co. Ltd. bought a new stake in shares of Devon Energy in the 4th quarter worth about $5,967,000. Cantor Fitzgerald Investment Advisors L.P. grew its holdings in shares of Devon Energy by 10.8% in the 1st quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 272,990 shares of the energy company’s stock worth $10,210,000 after purchasing an additional 26,519 shares during the last quarter. Merit Financial Group LLC grew its holdings in shares of Devon Energy by 209.5% in the 1st quarter. Merit Financial Group LLC now owns 22,679 shares of the energy company’s stock worth $848,000 after purchasing an additional 15,351 shares during the last quarter. Aviva PLC grew its holdings in shares of Devon Energy by 767.3% in the 4th quarter. Aviva PLC now owns 376,999 shares of the energy company’s stock worth $12,339,000 after purchasing an additional 333,530 shares during the last quarter. Finally, Autumn Glory Partners LLC grew its holdings in shares of Devon Energy by 93.6% in the 1st quarter. Autumn Glory Partners LLC now owns 41,368 shares of the energy company’s stock worth $1,547,000 after purchasing an additional 20,000 shares during the last quarter. Institutional investors and hedge funds own 69.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Bank of America lowered their target price on shares of Devon Energy from $52.00 to $42.00 and set a “buy” rating on the stock in a report on Tuesday, April 29th. Wall Street Zen raised shares of Devon Energy from a “sell” rating to a “hold” rating in a report on Thursday, May 15th. JPMorgan Chase & Co. upped their target price on shares of Devon Energy from $40.00 to $42.00 and gave the stock a “neutral” rating in a report on Tuesday, July 8th. Susquehanna lowered their target price on shares of Devon Energy from $52.00 to $41.00 and set a “positive” rating on the stock in a report on Tuesday, April 22nd. Finally, Wells Fargo & Company increased their price objective on shares of Devon Energy from $41.00 to $42.00 and gave the stock an “overweight” rating in a report on Thursday, July 3rd. Eleven investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, Devon Energy has a consensus rating of “Moderate Buy” and an average price target of $43.85.

Devon Energy Stock Performance

Devon Energy stock opened at $34.24 on Wednesday. The company has a current ratio of 1.08, a quick ratio of 0.99 and a debt-to-equity ratio of 0.57. Devon Energy Corporation has a 1 year low of $25.89 and a 1 year high of $47.44. The company has a market cap of $21.98 billion, a PE ratio of 7.80, a PEG ratio of 1.93 and a beta of 1.02. The company’s 50-day moving average is $32.82 and its two-hundred day moving average is $33.48.

Devon Energy (NYSE:DVN) last released its earnings results on Tuesday, May 6th. The energy company reported $1.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.06). Devon Energy had a net margin of 16.60% and a return on equity of 21.90%. The business had revenue of $4.45 billion for the quarter, compared to analyst estimates of $4.31 billion. During the same quarter in the previous year, the company posted $1.16 earnings per share. The business’s revenue for the quarter was up 23.8% on a year-over-year basis. Equities analysts anticipate that Devon Energy Corporation will post 4.85 earnings per share for the current year.

Devon Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were given a $0.24 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.80%. Devon Energy’s dividend payout ratio is 21.87%.

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.