Auxier Asset Management Makes New Investment in Devon Energy Co. (NYSE:DVN)

Auxier Asset Management acquired a new stake in shares of Devon Energy Co. (NYSE:DVN) during the fourth quarter, Holdings Channel.com reports. The firm acquired 9,400 shares of the energy company’s stock, valued at approximately $426,000.

Several other institutional investors have also recently made changes to their positions in DVN. PNC Financial Services Group Inc. increased its stake in Devon Energy by 5.0% in the third quarter. PNC Financial Services Group Inc. now owns 141,966 shares of the energy company’s stock worth $6,772,000 after purchasing an additional 6,739 shares during the period. Aviva PLC grew its stake in Devon Energy by 41.4% in the 3rd quarter. Aviva PLC now owns 332,859 shares of the energy company’s stock worth $15,877,000 after acquiring an additional 97,494 shares in the last quarter. Kestra Advisory Services LLC increased its position in shares of Devon Energy by 6.8% during the third quarter. Kestra Advisory Services LLC now owns 107,616 shares of the energy company’s stock worth $5,133,000 after acquiring an additional 6,850 shares during the period. Checchi Capital Advisers LLC grew its stake in Devon Energy by 7.0% in the third quarter. Checchi Capital Advisers LLC now owns 6,509 shares of the energy company’s stock worth $310,000 after purchasing an additional 424 shares in the last quarter. Finally, Wealthsource Partners LLC grew its position in shares of Devon Energy by 47.3% during the 3rd quarter. Wealthsource Partners LLC now owns 7,219 shares of the energy company’s stock worth $344,000 after buying an additional 2,319 shares in the last quarter. Institutional investors own 69.72% of the company’s stock.

Insider Transactions at Devon Energy

In other Devon Energy news, EVP Tana K. Cashion sold 20,000 shares of the stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $51.04, for a total transaction of $1,020,800.00. Following the transaction, the executive vice president now directly owns 104,182 shares of the company’s stock, valued at $5,317,449.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.73% of the company’s stock.

Analyst Ratings Changes

DVN has been the subject of a number of research reports. StockNews.com lowered shares of Devon Energy from a “buy” rating to a “hold” rating in a research note on Monday, June 10th. Scotiabank raised their price objective on Devon Energy from $53.00 to $67.00 and gave the company a “sector outperform” rating in a research report on Thursday, April 11th. Stifel Nicolaus lifted their price target on shares of Devon Energy from $65.00 to $66.00 and gave the stock a “buy” rating in a report on Tuesday, April 23rd. Mizuho upped their target price on Devon Energy from $57.00 to $61.00 and gave the company a “buy” rating in a research report on Monday, May 13th. Finally, JPMorgan Chase & Co. boosted their price target on Devon Energy from $57.00 to $62.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, Devon Energy presently has an average rating of “Moderate Buy” and a consensus price target of $59.24.

Devon Energy Trading Up 0.3 %

Shares of NYSE:DVN opened at $45.56 on Friday. The company has a current ratio of 1.04, a quick ratio of 0.97 and a debt-to-equity ratio of 0.46. Devon Energy Co. has a 12-month low of $40.47 and a 12-month high of $55.09. The business has a 50 day moving average of $50.17 and a two-hundred day moving average of $46.73. The company has a market capitalization of $28.79 billion, a PE ratio of 8.69 and a beta of 2.08.

Devon Energy (NYSE:DVN) last posted its earnings results on Wednesday, May 1st. The energy company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.06. The firm had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.64 billion. Devon Energy had a net margin of 22.27% and a return on equity of 29.02%. The business’s revenue was down 5.9% compared to the same quarter last year. During the same period in the previous year, the business posted $1.46 EPS. As a group, analysts forecast that Devon Energy Co. will post 5.18 EPS for the current year.

Devon Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be given a dividend of $0.22 per share. The ex-dividend date is Friday, June 14th. This represents a $0.88 dividend on an annualized basis and a yield of 1.93%. Devon Energy’s dividend payout ratio is currently 16.79%.

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.