Devon Energy Co. (NYSE:DVN) Shares Acquired by Lmcg Investments LLC

Lmcg Investments LLC lifted its stake in Devon Energy Co. (NYSE:DVN) by 13.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 51,993 shares of the energy company’s stock after purchasing an additional 5,973 shares during the quarter. Lmcg Investments LLC’s holdings in Devon Energy were worth $2,464,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Devon Energy by 3.5% in the 1st quarter. Vanguard Group Inc. now owns 76,457,056 shares of the energy company’s stock valued at $3,836,615,000 after buying an additional 2,559,039 shares during the period. Raymond James & Associates increased its stake in Devon Energy by 1.5% during the second quarter. Raymond James & Associates now owns 9,183,778 shares of the energy company’s stock worth $435,311,000 after acquiring an additional 138,919 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Devon Energy by 16.7% in the second quarter. Dimensional Fund Advisors LP now owns 8,793,217 shares of the energy company’s stock valued at $416,779,000 after purchasing an additional 1,255,543 shares during the period. Raymond James Financial Services Advisors Inc. lifted its stake in shares of Devon Energy by 3.8% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 4,699,410 shares of the energy company’s stock valued at $222,752,000 after purchasing an additional 169,923 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Devon Energy by 0.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 4,680,448 shares of the energy company’s stock worth $221,853,000 after purchasing an additional 18,443 shares during the period. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Devon Energy Trading Up 2.1 %

NYSE DVN opened at $40.47 on Wednesday. Devon Energy Co. has a 52 week low of $39.02 and a 52 week high of $55.09. The firm has a 50 day moving average of $44.50 and a two-hundred day moving average of $47.42. The stock has a market capitalization of $25.58 billion, a PE ratio of 7.72, a price-to-earnings-growth ratio of 1.13 and a beta of 2.03. The company has a quick ratio of 1.03, a current ratio of 1.11 and a debt-to-equity ratio of 0.45.

Devon Energy (NYSE:DVN) last issued its earnings results on Tuesday, August 6th. The energy company reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.15. The firm had revenue of $3.92 billion during the quarter, compared to the consensus estimate of $3.90 billion. Devon Energy had a net margin of 22.60% and a return on equity of 29.14%. The company’s revenue was up 13.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.18 earnings per share. As a group, research analysts expect that Devon Energy Co. will post 5.36 EPS for the current fiscal year.

Devon Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date of this dividend is Friday, September 13th. Devon Energy’s dividend payout ratio (DPR) is 16.79%.

Analyst Ratings Changes

Several analysts recently issued reports on DVN shares. Morgan Stanley reduced their price objective on shares of Devon Energy from $55.00 to $51.00 and set an “overweight” rating on the stock in a report on Monday. JPMorgan Chase & Co. lowered their price objective on shares of Devon Energy from $64.00 to $51.00 and set an “overweight” rating for the company in a research report on Thursday, September 12th. Sanford C. Bernstein cut their target price on Devon Energy from $48.00 to $43.00 and set a “market perform” rating on the stock in a research report on Wednesday, July 17th. StockNews.com cut Devon Energy from a “buy” rating to a “hold” rating in a research note on Monday, September 2nd. Finally, Bank of America reissued a “buy” rating and set a $64.00 target price on shares of Devon Energy in a research note on Friday, June 14th. Six equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $57.63.

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.