TrinityPoint Wealth LLC Purchases 18,431 Shares of Devon Energy Co. (NYSE:DVN)

TrinityPoint Wealth LLC raised its position in shares of Devon Energy Co. (NYSE:DVN) by 40.5% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 63,966 shares of the energy company’s stock after buying an additional 18,431 shares during the period. TrinityPoint Wealth LLC’s holdings in Devon Energy were worth $2,502,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Triad Wealth Partners LLC purchased a new stake in shares of Devon Energy during the second quarter worth about $27,000. 1620 Investment Advisors Inc. bought a new position in Devon Energy during the 2nd quarter valued at approximately $34,000. Capital Performance Advisors LLP purchased a new stake in Devon Energy in the 3rd quarter worth approximately $35,000. PSI Advisors LLC grew its position in shares of Devon Energy by 66.7% in the 2nd quarter. PSI Advisors LLC now owns 750 shares of the energy company’s stock worth $36,000 after buying an additional 300 shares during the last quarter. Finally, LRI Investments LLC purchased a new position in shares of Devon Energy during the first quarter valued at approximately $39,000. Institutional investors own 69.72% of the company’s stock.

Devon Energy Trading Down 2.3 %

Shares of NYSE DVN opened at $38.47 on Monday. The company has a market cap of $25.27 billion, a PE ratio of 7.14, a P/E/G ratio of 1.20 and a beta of 2.03. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.11. The firm’s 50 day moving average price is $40.09 and its 200-day moving average price is $44.33. Devon Energy Co. has a 52-week low of $37.76 and a 52-week high of $55.09.

Devon Energy (NYSE:DVN) last issued its earnings results on Tuesday, November 5th. The energy company reported $1.10 EPS for the quarter, beating 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 business 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 business posted $1.65 EPS. The company’s revenue was up 4.9% compared to the same quarter last year. On average, equities research analysts expect that Devon Energy Co. will post 4.84 EPS for the current fiscal year.

Devon Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date of this dividend is Friday, December 13th. Devon Energy’s dividend payout ratio (DPR) is 16.33%.

Wall Street Analyst Weigh In

DVN has been the subject of a number of research analyst reports. Jefferies Financial Group began coverage on Devon Energy in a research note on Thursday, October 3rd. They issued a “hold” rating and a $45.00 price target for the company. Susquehanna dropped their target price on shares of Devon Energy from $63.00 to $62.00 and set a “positive” rating for the company in a research report on Friday, October 18th. Morgan Stanley reduced their price target on shares of Devon Energy from $55.00 to $51.00 and set an “overweight” rating on the stock in a research report on Monday, September 16th. Royal Bank of Canada restated a “sector perform” rating and issued a $57.00 price objective on shares of Devon Energy in a report on Tuesday, September 3rd. Finally, Benchmark reiterated a “hold” rating on shares of Devon Energy in a report on Tuesday, October 15th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Devon Energy currently has a consensus rating of “Hold” 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.