Devon Energy Co. (NYSE:DVN) Shares Acquired by Scissortail Wealth Management LLC

Scissortail Wealth Management LLC lifted its position in shares of Devon Energy Co. (NYSE:DVN) by 10.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 50,141 shares of the energy company’s stock after acquiring an additional 4,869 shares during the quarter. Scissortail Wealth Management LLC’s holdings in Devon Energy were worth $2,145,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in DVN. Canada Pension Plan Investment Board purchased a new position in shares of Devon Energy during the 1st quarter worth approximately $26,000. Fortis Capital Advisors LLC purchased a new position in shares of Devon Energy during the 4th quarter worth approximately $31,000. KB Financial Partners LLC purchased a new position in shares of Devon Energy during the 1st quarter worth approximately $26,000. Coppell Advisory Solutions LLC purchased a new position in shares of Devon Energy during the 2nd quarter worth approximately $25,000. Finally, Annis Gardner Whiting Capital Advisors LLC purchased a new position in shares of Devon Energy during the 3rd quarter worth approximately $27,000. Institutional investors and hedge funds own 69.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. UBS Group increased their price objective on shares of Devon Energy from $48.00 to $57.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 10th. Raymond James decreased their price target on shares of Devon Energy from $53.00 to $52.00 and set an “outperform” rating for the company in a research report on Wednesday, January 24th. Morgan Stanley raised their price target on shares of Devon Energy from $49.00 to $50.00 and gave the company an “overweight” rating in a research report on Monday. Mizuho decreased their price target on shares of Devon Energy from $54.00 to $53.00 and set a “buy” rating for the company in a research report on Thursday, January 11th. Finally, Scotiabank raised their price target on shares of Devon Energy from $53.00 to $67.00 and gave the company a “sector outperform” rating in a research report on Thursday, April 11th. Five investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $57.89.

Devon Energy Stock Performance

NYSE DVN traded down $0.49 during trading on Tuesday, reaching $52.19. The company’s stock had a trading volume of 6,989,598 shares, compared to its average volume of 8,108,337. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.99 and a current ratio of 1.07. The firm has a market cap of $33.14 billion, a price-to-earnings ratio of 8.95 and a beta of 2.19. Devon Energy Co. has a twelve month low of $40.47 and a twelve month high of $56.19. The business’s fifty day moving average price is $47.30 and its 200-day moving average price is $45.78.

Devon Energy (NYSE:DVN) last posted its quarterly earnings data on Tuesday, February 27th. The energy company reported $1.41 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.02. The company had revenue of $4.15 billion for the quarter, compared to analyst estimates of $3.88 billion. Devon Energy had a net margin of 24.56% and a return on equity of 31.72%. Devon Energy’s quarterly revenue was down 3.6% on a year-over-year basis. During the same period in the previous year, the business posted $1.66 earnings per share. As a group, analysts anticipate that Devon Energy Co. will post 5.02 EPS for the current fiscal year.

Devon Energy Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were issued a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 3.37%. The ex-dividend date of this dividend was Thursday, March 14th. Devon Energy’s payout ratio is 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.