Dynamic Advisor Solutions LLC Raises Holdings in Devon Energy Co. (NYSE:DVN)

Dynamic Advisor Solutions LLC lifted its holdings in shares of Devon Energy Co. (NYSE:DVN) by 5.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,899 shares of the energy company’s stock after buying an additional 1,095 shares during the period. Dynamic Advisor Solutions LLC’s holdings in Devon Energy were worth $1,038,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Manchester Capital Management LLC acquired a new stake in shares of Devon Energy in the 4th quarter worth approximately $28,000. Tradewinds Capital Management LLC acquired a new stake in shares of Devon Energy in the 1st quarter worth approximately $30,000. Jones Financial Companies Lllp grew its holdings in Devon Energy by 104.8% during the 4th quarter. Jones Financial Companies Lllp now owns 731 shares of the energy company’s stock valued at $33,000 after buying an additional 374 shares during the last quarter. LRI Investments LLC acquired a new stake in Devon Energy during the 1st quarter valued at $39,000. Finally, Naples Money Management LLC acquired a new stake in Devon Energy during the 4th quarter valued at $40,000. 69.72% of the stock is owned by hedge funds and other institutional investors.

Devon Energy Stock Down 1.9 %

NYSE:DVN traded down $0.86 during mid-day trading on Tuesday, hitting $44.47. The company had a trading volume of 419,892 shares, compared to its average volume of 7,230,363. The business has a fifty day simple moving average of $46.31 and a 200-day simple moving average of $47.35. The company has a current ratio of 1.04, a quick ratio of 0.97 and a debt-to-equity ratio of 0.46. Devon Energy Co. has a 1 year low of $40.47 and a 1 year high of $55.09. The firm has a market capitalization of $28.11 billion, a price-to-earnings ratio of 8.65, a PEG ratio of 0.75 and a beta of 2.07.

Devon Energy (NYSE:DVN) last announced its earnings results on Tuesday, August 6th. The energy company reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.15. The company had revenue of $3.92 billion during the quarter, compared to the consensus estimate of $3.90 billion. Devon Energy had a return on equity of 29.02% and a net margin of 22.27%. The company’s revenue was up 13.4% on a year-over-year basis. During the same period last year, the firm earned $1.18 earnings per share. Equities analysts forecast that Devon Energy Co. will post 5.4 earnings per share for the current fiscal year.

Devon Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be paid a dividend of $0.22 per share. The ex-dividend date is Friday, September 13th. This represents a $0.88 annualized dividend and a dividend yield of 1.98%. Devon Energy’s dividend payout ratio is presently 16.79%.

Analyst Ratings Changes

A number of brokerages have commented on DVN. Mizuho increased their target price on Devon Energy from $57.00 to $61.00 and gave the company a “buy” rating in a report on Monday, May 13th. Bank of America reissued a “buy” rating and set a $64.00 price target on shares of Devon Energy in a research note on Friday, June 14th. JPMorgan Chase & Co. increased their price target on Devon Energy from $62.00 to $64.00 and gave the stock an “overweight” rating in a research note on Monday, July 8th. Sanford C. Bernstein reduced their price target on Devon Energy from $48.00 to $43.00 and set a “market perform” rating on the stock in a research note on Wednesday, July 17th. Finally, Wells Fargo & Company reduced their price target on Devon Energy from $60.00 to $57.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 23rd. Five equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $59.13.

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.