Carson Advisory Inc. Takes $226,000 Position in Devon Energy Co. (NYSE:DVN)

Carson Advisory Inc. bought a new position in Devon Energy Co. (NYSE:DVN) in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 4,764 shares of the energy company’s stock, valued at approximately $226,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Triad Wealth Partners LLC acquired a new position in shares of Devon Energy in the second quarter valued at about $27,000. Manchester Capital Management LLC purchased a new stake in Devon Energy in the fourth quarter valued at approximately $28,000. Tradewinds Capital Management LLC acquired a new position in Devon Energy in the 1st quarter worth approximately $30,000. Jones Financial Companies Lllp raised its position in Devon Energy by 104.8% during the 4th quarter. Jones Financial Companies Lllp now owns 731 shares of the energy company’s stock worth $33,000 after buying an additional 374 shares during the last quarter. Finally, 1620 Investment Advisors Inc. acquired a new stake in Devon Energy during the 2nd quarter valued at approximately $34,000. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Analyst Upgrades and Downgrades

DVN has been the subject of several recent research reports. Bank of America reissued a “buy” rating and set a $64.00 target price on shares of Devon Energy in a report on Friday, June 14th. Wells Fargo & Company decreased their price objective on Devon Energy from $57.00 to $55.00 and set an “overweight” rating for the company in a report on Wednesday, August 14th. JPMorgan Chase & Co. raised their target price on Devon Energy from $62.00 to $64.00 and gave the stock an “overweight” rating in a report on Monday, July 8th. BMO Capital Markets raised Devon Energy to a “strong-buy” rating in a report on Wednesday, July 3rd. Finally, Scotiabank lowered their price objective on Devon Energy from $67.00 to $60.00 and set a “sector outperform” rating on the stock in a research report on Friday, July 12th. Six research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $58.63.

Devon Energy Stock Down 2.8 %

DVN opened at $40.24 on Wednesday. The company has a market cap of $25.43 billion, a PE ratio of 7.68, a price-to-earnings-growth ratio of 1.17 and a beta of 2.03. Devon Energy Co. has a twelve month low of $40.10 and a twelve month high of $55.09. The company has a 50-day moving average price of $45.12 and a 200 day moving average price of $47.54. The company has a quick ratio of 1.03, a current ratio of 1.11 and a debt-to-equity ratio of 0.45.

Devon Energy (NYSE:DVN) last announced its earnings results on Tuesday, August 6th. The energy company reported $1.41 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.15. The business 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 29.14% and a net margin of 22.60%. The business’s revenue was up 13.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.18 earnings per share. Sell-side analysts expect that Devon Energy Co. will post 5.37 earnings per share for the current fiscal year.

Devon Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be issued a $0.22 dividend. The ex-dividend date is Friday, September 13th. This represents a $0.88 dividend on an annualized basis and a yield of 2.19%. Devon Energy’s payout ratio is currently 16.79%.

Devon Energy Company 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.