Peterson Wealth Services Buys 6,301 Shares of Devon Energy Co. (NYSE:DVN)

Peterson Wealth Services raised its holdings in shares of Devon Energy Co. (NYSE:DVN) by 29.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 27,870 shares of the energy company’s stock after buying an additional 6,301 shares during the quarter. Peterson Wealth Services’ holdings in Devon Energy were worth $1,262,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in DVN. Coppell Advisory Solutions LLC purchased a new position in Devon Energy during the second quarter worth about $25,000. Canada Pension Plan Investment Board purchased a new position in Devon Energy during the first quarter worth about $26,000. KB Financial Partners LLC purchased a new position in shares of Devon Energy in the 1st quarter worth about $26,000. Annis Gardner Whiting Capital Advisors LLC purchased a new position in shares of Devon Energy in the 3rd quarter worth about $27,000. Finally, Sound Income Strategies LLC boosted its holdings in shares of Devon Energy by 60.7% in the 4th quarter. Sound Income Strategies LLC now owns 675 shares of the energy company’s stock worth $31,000 after purchasing an additional 255 shares in the last quarter. 69.72% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

DVN has been the subject of a number of research reports. Stifel Nicolaus cut their price objective on Devon Energy from $75.00 to $65.00 and set a “buy” rating for the company in a report on Friday, March 22nd. Mizuho dropped their price objective on Devon Energy from $54.00 to $53.00 and set a “buy” rating for the company in a report on Thursday, January 11th. Morgan Stanley increased their price objective on Devon Energy from $49.00 to $50.00 and gave the stock an “overweight” rating in a report on Monday. JPMorgan Chase & Co. raised their target price on Devon Energy from $57.00 to $62.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Finally, Citigroup raised their target price on Devon Energy from $55.00 to $62.00 and gave the company a “buy” rating in a research note on Thursday, April 11th. Five research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $57.89.

Devon Energy Stock Performance

Shares of DVN traded up $0.06 during trading hours on Thursday, hitting $51.73. The stock had a trading volume of 1,086,420 shares, compared to its average volume of 7,987,243. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.07 and a quick ratio of 0.99. Devon Energy Co. has a 12 month low of $40.47 and a 12 month high of $55.09. The firm has a market capitalization of $32.85 billion, a PE ratio of 8.89 and a beta of 2.19. The stock has a fifty day moving average price of $47.51 and a 200 day moving average price of $45.82.

Devon Energy (NYSE:DVN) last issued its quarterly earnings data on Tuesday, February 27th. The energy company reported $1.41 EPS for the quarter, topping the consensus estimate of $1.39 by $0.02. The company had revenue of $4.15 billion during the quarter, compared to analyst estimates of $3.88 billion. Devon Energy had a return on equity of 31.72% and a net margin of 24.56%. Devon Energy’s revenue was down 3.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.66 earnings per share. Analysts anticipate that Devon Energy Co. will post 5.14 EPS for the current year.

Devon Energy Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were given a dividend of $0.44 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.76 annualized dividend and a yield of 3.40%. Devon Energy’s dividend payout ratio (DPR) is presently 15.09%.

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.