Blake Schutter Theil Wealth Advisors LLC Buys Shares of 5,530 Devon Energy Co. (NYSE:DVN)

Blake Schutter Theil Wealth Advisors LLC purchased a new position in shares of Devon Energy Co. (NYSE:DVN) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 5,530 shares of the energy company’s stock, valued at approximately $216,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. M&G PLC grew its position in Devon Energy by 2.2% in the 3rd quarter. M&G PLC now owns 146,393 shares of the energy company’s stock valued at $5,709,000 after acquiring an additional 3,215 shares in the last quarter. Radnor Capital Management LLC boosted its stake in shares of Devon Energy by 14.4% in the third quarter. Radnor Capital Management LLC now owns 19,955 shares of the energy company’s stock valued at $781,000 after purchasing an additional 2,505 shares during the period. Long Run Wealth Advisors LLC grew its holdings in shares of Devon Energy by 10.3% in the third quarter. Long Run Wealth Advisors LLC now owns 6,064 shares of the energy company’s stock valued at $237,000 after purchasing an additional 568 shares in the last quarter. Crescent Grove Advisors LLC purchased a new stake in Devon Energy during the 3rd quarter worth approximately $403,000. Finally, Moloney Securities Asset Management LLC acquired a new stake in Devon Energy during the 3rd quarter worth approximately $1,057,000. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Devon Energy Price Performance

DVN stock opened at $38.89 on Friday. The business has a 50 day simple moving average of $40.60 and a 200-day simple moving average of $44.99. The company has a market capitalization of $24.35 billion, a P/E ratio of 7.06, a PEG ratio of 1.20 and a beta of 2.03. Devon Energy Co. has a twelve month low of $37.76 and a twelve month high of $55.09. The company has a current ratio of 1.11, a quick ratio of 1.03 and a debt-to-equity ratio of 0.45.

Devon Energy (NYSE:DVN) last issued its quarterly earnings data on Tuesday, November 5th. The energy company reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $0.01. Devon Energy had a net margin of 22.60% and a return on equity of 29.14%. The company had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $3.72 billion. During the same period last year, the firm posted $1.65 EPS. Devon Energy’s revenue for the quarter was up 4.9% on a year-over-year basis. As a group, equities analysts anticipate that Devon Energy Co. will post 4.93 EPS for the current year.

Devon Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be given a dividend of $0.22 per share. The ex-dividend date is Friday, December 13th. This represents a $0.88 dividend on an annualized basis and a yield of 2.26%. Devon Energy’s payout ratio is 15.97%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Scotiabank cut their price objective on Devon Energy from $60.00 to $48.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Evercore ISI reduced their price target on Devon Energy from $55.00 to $50.00 and set an “in-line” rating on the stock in a research report on Monday, September 30th. Morgan Stanley decreased their price objective on Devon Energy from $55.00 to $51.00 and set an “overweight” rating for the company in a research note on Monday, September 16th. Royal Bank of Canada restated a “sector perform” rating and set a $57.00 target price on shares of Devon Energy in a research note on Tuesday, September 3rd. Finally, Sanford C. Bernstein decreased their price target on shares of Devon Energy from $48.00 to $43.00 and set a “market perform” rating for the company in a research note on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $51.80.

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.