Murphy Pohlad Asset Management LLC Purchases 450 Shares of Devon Energy Co. (NYSE:DVN)

Murphy Pohlad Asset Management LLC increased its position in shares of Devon Energy Co. (NYSE:DVN) by 0.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 94,972 shares of the energy company’s stock after acquiring an additional 450 shares during the period. Murphy Pohlad Asset Management LLC’s holdings in Devon Energy were worth $3,108,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Capital Performance Advisors LLP bought a new position in shares of Devon Energy in the third quarter worth $35,000. Future Financial Wealth Managment LLC bought a new position in Devon Energy in the 3rd quarter worth about $39,000. True Wealth Design LLC raised its holdings in shares of Devon Energy by 3,889.3% in the 3rd quarter. True Wealth Design LLC now owns 1,117 shares of the energy company’s stock valued at $44,000 after acquiring an additional 1,089 shares in the last quarter. Hazlett Burt & Watson Inc. boosted its position in shares of Devon Energy by 29.8% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 1,263 shares of the energy company’s stock valued at $49,000 after acquiring an additional 290 shares during the last quarter. Finally, Activest Wealth Management grew its holdings in shares of Devon Energy by 60.4% during the third quarter. Activest Wealth Management now owns 1,275 shares of the energy company’s stock worth $50,000 after purchasing an additional 480 shares in the last quarter. 69.72% of the stock is currently owned by hedge funds and other institutional investors.

Devon Energy Trading Up 0.5 %

Shares of Devon Energy stock opened at $35.05 on Thursday. Devon Energy Co. has a 1-year low of $30.39 and a 1-year high of $55.09. The company’s fifty day simple moving average is $35.07 and its 200-day simple moving average is $39.67. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.11 and a quick ratio of 1.01. The stock has a market capitalization of $23.02 billion, a PE ratio of 6.50, a P/E/G ratio of 1.21 and a beta of 2.00.

Devon Energy (NYSE:DVN) last released its quarterly earnings results on Tuesday, November 5th. The energy company reported $1.10 earnings per share (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 during the quarter, compared to analyst estimates of $3.72 billion. During the same quarter in the previous year, the company posted $1.65 earnings per share. Devon Energy’s revenue for the quarter was up 4.9% on a year-over-year basis. As a group, equities analysts anticipate that Devon Energy Co. will post 4.7 earnings per share for the current year.

Devon Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Friday, December 13th were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.51%. The ex-dividend date was Friday, December 13th. Devon Energy’s dividend payout ratio (DPR) is presently 16.33%.

Wall Street Analysts Forecast Growth

DVN has been the subject of several research analyst reports. Royal Bank of Canada reiterated a “sector perform” rating and set a $50.00 target price on shares of Devon Energy in a research report on Friday, January 10th. Wells Fargo & Company reduced their target price on Devon Energy from $49.00 to $43.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 17th. Wolfe Research upgraded Devon Energy from a “peer perform” rating to an “outperform” rating and set a $45.00 price objective for the company in a report on Friday, January 3rd. Citigroup dropped their target price on Devon Energy from $55.00 to $48.00 and set a “buy” rating for the company in a research report on Tuesday, November 26th. Finally, Mizuho reduced their price target on shares of Devon Energy from $51.00 to $47.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. Nine research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $49.45.

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.