Greylin Investment Mangement Inc. acquired a new position in shares of Devon Energy Corp (NYSE:DVN) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 9,425 shares of the energy company’s stock, valued at approximately $245,000.
Other institutional investors also recently modified their holdings of the company. Usca Ria LLC acquired a new position in shares of Devon Energy during the 3rd quarter worth approximately $29,000. CSat Investment Advisory L.P. grew its stake in Devon Energy by 88.1% in the 2nd quarter. CSat Investment Advisory L.P. now owns 1,738 shares of the energy company’s stock worth $49,000 after acquiring an additional 814 shares during the period. North Star Investment Management Corp. purchased a new stake in Devon Energy in the 3rd quarter worth approximately $43,000. HM Payson & Co. purchased a new stake in Devon Energy in the 2nd quarter worth approximately $57,000. Finally, Parallel Advisors LLC grew its stake in Devon Energy by 43.7% in the 3rd quarter. Parallel Advisors LLC now owns 2,403 shares of the energy company’s stock worth $58,000 after acquiring an additional 731 shares during the period. Hedge funds and other institutional investors own 87.83% of the company’s stock.
Shares of NYSE DVN traded up $0.30 during trading on Thursday, hitting $25.85. 7,500,127 shares of the company traded hands, compared to its average volume of 6,435,121. Devon Energy Corp has a 1 year low of $19.72 and a 1 year high of $35.39. The company has a 50-day moving average price of $24.15 and a 200-day moving average price of $24.11. The firm has a market capitalization of $10.17 billion, a P/E ratio of 20.04, a P/E/G ratio of 1.26 and a beta of 2.42. The company has a quick ratio of 1.72, a current ratio of 1.72 and a debt-to-equity ratio of 0.66.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 13th will be given a dividend of $0.09 per share. The ex-dividend date is Thursday, March 12th. This represents a $0.36 dividend on an annualized basis and a yield of 1.39%. Devon Energy’s dividend payout ratio (DPR) is 27.91%.
In related news, CAO Jeremy D. Humphers sold 1,500 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $22.01, for a total transaction of $33,015.00. Following the completion of the sale, the chief accounting officer now directly owns 43,975 shares of the company’s stock, valued at approximately $967,889.75. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.63% of the stock is currently owned by corporate insiders.
Several analysts have commented on DVN shares. Citigroup lowered their target price on shares of Devon Energy from $36.00 to $31.00 and set a “buy” rating for the company in a research note on Monday, September 23rd. JPMorgan Chase & Co. raised shares of Devon Energy from a “neutral” rating to an “overweight” rating and set a $34.00 price objective for the company in a research note on Tuesday, December 10th. Evercore ISI assumed coverage on shares of Devon Energy in a research note on Wednesday, December 18th. They set a “hold” rating and a $30.00 price objective for the company. Siebert Williams Shank assumed coverage on shares of Devon Energy in a research note on Friday, December 20th. They set a “buy” rating and a $33.00 price objective for the company. Finally, MKM Partners boosted their price objective on shares of Devon Energy from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. One analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $34.03.
Devon Energy Company Profile
Devon Energy Corporation, an independent energy company, primarily engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States and Canada. It operates approximately 12,900 gross wells. The company was founded in 1971 and is headquartered in Oklahoma City, Oklahoma.
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