Annex Advisory Services LLC Increases Stake in Devon Energy Co. (NYSE:DVN)

Annex Advisory Services LLC increased its position in shares of Devon Energy Co. (NYSE:DVN) by 0.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 27,651 shares of the energy company’s stock after buying an additional 223 shares during the period. Annex Advisory Services LLC’s holdings in Devon Energy were worth $1,311,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Manchester Capital Management LLC purchased a new position in shares of Devon Energy during the fourth quarter valued at $28,000. Tradewinds Capital Management LLC bought a new stake in Devon Energy during the first quarter valued at about $30,000. Jones Financial Companies Lllp boosted its position in Devon Energy by 104.8% during the fourth quarter. Jones Financial Companies Lllp now owns 731 shares of the energy company’s stock valued at $33,000 after purchasing an additional 374 shares in the last quarter. PFS Partners LLC bought a new stake in Devon Energy during the fourth quarter valued at about $36,000. Finally, LRI Investments LLC bought a new stake in Devon Energy during the first quarter valued at about $39,000. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Devon Energy Stock Performance

DVN stock traded down $0.19 during trading on Friday, hitting $44.92. 6,233,393 shares of the company traded hands, compared to its average volume of 7,289,958. The stock’s 50-day simple moving average is $46.34 and its 200 day simple moving average is $47.29. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.04 and a quick ratio of 0.97. The company has a market cap of $28.39 billion, a PE ratio of 8.57, a P/E/G ratio of 0.75 and a beta of 2.07. Devon Energy Co. has a 1 year low of $40.47 and a 1 year high of $55.09.

Devon Energy (NYSE:DVN) last announced its quarterly earnings results on Tuesday, August 6th. The energy company reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.15. The company had revenue of $3.92 billion during the quarter, compared to analysts’ expectations of $3.90 billion. Devon Energy had a return on equity of 29.02% and a net margin of 22.27%. Devon Energy’s quarterly revenue was up 13.4% on a year-over-year basis. During the same period last year, the business earned $1.18 earnings per share. On average, equities analysts expect that Devon Energy Co. will post 5.4 earnings per share for the current fiscal year.

Devon Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.96%. The ex-dividend date of this dividend is Friday, September 13th. Devon Energy’s dividend payout ratio is currently 16.79%.

Analyst Ratings Changes

DVN has been the topic of a number of recent research reports. BMO Capital Markets raised Devon Energy to a “strong-buy” rating in a research report on Wednesday, July 3rd. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $57.00 price objective on shares of Devon Energy in a research report on Tuesday, July 9th. StockNews.com raised Devon Energy from a “hold” rating to a “buy” rating in a research report on Thursday. Stifel Nicolaus raised their price target on Devon Energy from $65.00 to $66.00 and gave the stock a “buy” rating in a report on Tuesday, April 23rd. Finally, Sanford C. Bernstein lowered their price target on Devon Energy from $48.00 to $43.00 and set a “market perform” rating for the company in a report on Wednesday, July 17th. Five analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $59.13.

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.