Investors Buy High Volume of Devon Energy Call Options (NYSE:DVN)

Devon Energy Co. (NYSE:DVN) was the recipient of unusually large options trading on Monday. Traders purchased 45,020 call options on the company. This represents an increase of 35% compared to the typical volume of 33,241 call options.

Institutional Trading of Devon Energy

Several large investors have recently modified their holdings of DVN. Capital Performance Advisors LLP bought a new stake in Devon Energy during the 3rd quarter valued at approximately $35,000. Future Financial Wealth Managment LLC purchased a new stake in Devon Energy during the 3rd quarter valued at approximately $39,000. True Wealth Design LLC raised its position in shares of Devon Energy by 3,889.3% during the third quarter. True Wealth Design LLC now owns 1,117 shares of the energy company’s stock valued at $44,000 after buying an additional 1,089 shares during the last quarter. Hazlett Burt & Watson Inc. lifted its holdings in shares of Devon Energy by 29.8% in the third quarter. Hazlett Burt & Watson Inc. now owns 1,263 shares of the energy company’s stock worth $49,000 after buying an additional 290 shares in the last quarter. Finally, Activest Wealth Management boosted its holdings in shares of Devon Energy by 60.4% during the 3rd quarter. Activest Wealth Management now owns 1,275 shares of the energy company’s stock valued at $50,000 after purchasing an additional 480 shares during the last quarter. Institutional investors own 69.72% of the company’s stock.

Devon Energy Stock Up 2.0 %

Devon Energy stock traded up $0.72 during mid-day trading on Monday, hitting $36.71. The company had a trading volume of 6,213,331 shares, compared to its average volume of 10,505,149. Devon Energy has a 12 month low of $30.39 and a 12 month high of $55.09. The company has a market capitalization of $24.11 billion, a PE ratio of 6.81, a price-to-earnings-growth ratio of 1.07 and a beta of 1.99. The stock’s 50 day moving average price is $35.62 and its two-hundred day moving average price is $40.56. The company has a current ratio of 1.11, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61.

Devon Energy (NYSE:DVN) last posted its quarterly earnings results on Tuesday, November 5th. The energy company reported $1.10 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.01. Devon Energy had a return on equity of 24.73% and a net margin of 21.71%. The firm had revenue of $4.02 billion during the quarter, compared to analysts’ expectations of $3.72 billion. During the same quarter in the previous year, the business earned $1.65 earnings per share. The company’s revenue was up 4.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Devon Energy will post 4.79 earnings per share for the current fiscal year.

Devon Energy Dividend Announcement

The business 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. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.88 dividend on an annualized basis and a yield of 2.40%. Devon Energy’s dividend payout ratio is presently 16.33%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on DVN shares. Mizuho cut their price objective on shares of Devon Energy from $51.00 to $47.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $50.00 price objective on shares of Devon Energy in a research note on Friday. Barclays lowered their target price on Devon Energy from $55.00 to $46.00 and set an “equal weight” rating for the company in a research note on Thursday, October 3rd. Wolfe Research upgraded Devon Energy from a “peer perform” rating to an “outperform” rating and set a $45.00 price target on the stock in a research report on Friday, January 3rd. Finally, Wells Fargo & Company lowered their price objective on Devon Energy from $49.00 to $43.00 and set an “overweight” rating for the company in a research report on Tuesday, December 17th. Eleven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, Devon Energy presently has a consensus rating of “Moderate Buy” and an average price target of $49.43.

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.