Devon Energy Corporation (NYSE:DVN) Shares Purchased by HB Wealth Management LLC

HB Wealth Management LLC grew its position in Devon Energy Corporation (NYSE:DVN) by 34.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,553 shares of the energy company’s stock after purchasing an additional 5,510 shares during the period. HB Wealth Management LLC’s holdings in Devon Energy were worth $806,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of DVN. Fuller & Thaler Asset Management Inc. lifted its stake in shares of Devon Energy by 42.8% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 10,395,225 shares of the energy company’s stock valued at $340,236,000 after purchasing an additional 3,114,656 shares in the last quarter. Marshall Wace LLP lifted its stake in shares of Devon Energy by 135.5% in the 4th quarter. Marshall Wace LLP now owns 5,371,518 shares of the energy company’s stock valued at $175,810,000 after purchasing an additional 3,090,585 shares in the last quarter. Invesco Ltd. lifted its stake in shares of Devon Energy by 32.8% in the 4th quarter. Invesco Ltd. now owns 9,461,719 shares of the energy company’s stock valued at $309,682,000 after purchasing an additional 2,335,473 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Devon Energy by 530.3% in the 1st quarter. Assenagon Asset Management S.A. now owns 2,067,465 shares of the energy company’s stock valued at $77,323,000 after purchasing an additional 1,739,436 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. lifted its stake in shares of Devon Energy by 345.9% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 2,163,792 shares of the energy company’s stock valued at $70,821,000 after purchasing an additional 1,678,500 shares in the last quarter. 69.72% of the stock is owned by institutional investors and hedge funds.

Devon Energy Price Performance

Shares of NYSE DVN opened at $33.77 on Thursday. Devon Energy Corporation has a twelve month low of $25.89 and a twelve month high of $47.44. The company has a current ratio of 1.08, a quick ratio of 0.99 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $21.68 billion, a price-to-earnings ratio of 7.69, a price-to-earnings-growth ratio of 1.94 and a beta of 1.02. The business has a 50 day simple moving average of $32.86 and a 200-day simple moving average of $33.49.

Devon Energy (NYSE:DVN) last issued its quarterly earnings results on Tuesday, May 6th. The energy company reported $1.21 earnings per share 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 firm had revenue of $4.45 billion during the quarter, compared to the consensus estimate of $4.31 billion. During the same quarter last year, the firm posted $1.16 earnings per share. Devon Energy’s revenue was up 23.8% compared to the same quarter last year. As a group, equities research analysts expect 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. Stockholders of record on Friday, June 13th were issued 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 2.84%. Devon Energy’s dividend payout ratio (DPR) is 21.87%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on DVN. Wall Street Zen raised Devon Energy from a “sell” rating to a “hold” rating in a research note on Thursday, May 15th. Bank of America reduced their price target on Devon Energy from $52.00 to $42.00 and set a “buy” rating on the stock in a research report on Tuesday, April 29th. JPMorgan Chase & Co. boosted their price target on Devon Energy from $40.00 to $42.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 8th. UBS Group boosted their price target on Devon Energy from $35.00 to $37.00 and gave the stock a “neutral” rating in a research report on Friday, July 11th. Finally, Tudor, Pickering, Holt & Co. boosted their price target on Devon Energy from $42.00 to $44.00 in a research report on Thursday, July 3rd. Eleven analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, Devon Energy has an average rating of “Moderate Buy” and an average price target of $43.85.

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.