Devon Energy Co. (NYSE:DVN) Shares Acquired by Vectors Research Management LLC

Vectors Research Management LLC raised its stake in Devon Energy Co. (NYSE:DVN) by 5.4% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 19,083 shares of the energy company’s stock after purchasing an additional 982 shares during the period. Vectors Research Management LLC’s holdings in Devon Energy were worth $747,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Annex Advisory Services LLC raised its holdings in shares of Devon Energy by 0.8% during the 2nd quarter. Annex Advisory Services LLC now owns 27,651 shares of the energy company’s stock valued at $1,311,000 after purchasing an additional 223 shares in the last quarter. Versant Capital Management Inc increased its holdings in shares of Devon Energy by 30.4% during the 2nd quarter. Versant Capital Management Inc now owns 970 shares of the energy company’s stock valued at $46,000 after acquiring an additional 226 shares during the last quarter. Archer Investment Corp raised its stake in shares of Devon Energy by 2.8% in the 2nd quarter. Archer Investment Corp now owns 8,535 shares of the energy company’s stock valued at $405,000 after acquiring an additional 235 shares in the last quarter. Citizens Financial Group Inc. RI lifted its holdings in Devon Energy by 2.6% in the 1st quarter. Citizens Financial Group Inc. RI now owns 9,480 shares of the energy company’s stock worth $476,000 after purchasing an additional 236 shares during the last quarter. Finally, Institute for Wealth Management LLC. boosted its position in Devon Energy by 4.0% during the second quarter. Institute for Wealth Management LLC. now owns 6,234 shares of the energy company’s stock worth $296,000 after purchasing an additional 237 shares during the period. Institutional investors and hedge funds own 69.72% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on DVN shares. Scotiabank dropped their price objective on shares of Devon Energy from $60.00 to $48.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. StockNews.com cut Devon Energy from a “hold” rating to a “sell” rating in a report on Thursday, November 7th. Morgan Stanley dropped their target price on Devon Energy from $55.00 to $51.00 and set an “overweight” rating for the company in a research report on Monday, September 16th. TD Cowen reduced their price objective on shares of Devon Energy from $54.00 to $46.00 and set a “hold” rating on the stock in a research note on Tuesday, November 5th. Finally, Wells Fargo & Company decreased their target price on Devon Energy from $50.00 to $49.00 and set an “overweight” rating for the company in a research report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, Devon Energy presently has an average rating of “Hold” and an average price target of $51.80.

Devon Energy Price Performance

Shares of NYSE DVN opened at $39.36 on Friday. The firm has a fifty day simple moving average of $40.15 and a 200 day simple moving average of $44.52. Devon Energy Co. has a twelve month low of $37.76 and a twelve month high of $55.09. The company has a quick ratio of 1.01, a current ratio of 1.11 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $25.86 billion, a PE ratio of 7.30, a P/E/G ratio of 1.22 and a beta of 2.03.

Devon Energy (NYSE:DVN) last announced its quarterly earnings data on Tuesday, November 5th. The energy company reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.01. The firm had revenue of $4.02 billion during the quarter, compared to analysts’ expectations of $3.72 billion. Devon Energy had a return on equity of 24.73% and a net margin of 21.71%. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.65 earnings per share. On average, sell-side analysts forecast that Devon Energy Co. will post 4.84 EPS for the current year.

Devon Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.24%. The ex-dividend date is Friday, December 13th. Devon Energy’s dividend payout ratio (DPR) is currently 16.33%.

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.