Devon Energy Co. (NYSE:DVN) Shares Bought by Lumature Wealth Partners LLC

by · The Cerbat Gem

Lumature Wealth Partners LLC raised its position in shares of Devon Energy Co. (NYSE:DVN – Free Report) by 35.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,050 shares of the energy company’s stock after purchasing an additional 800 shares during the quarter. Lumature Wealth Partners LLC’s holdings in Devon Energy were worth $147,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. CENTRAL TRUST Co raised its stake in Devon Energy by 21.1% during the 2nd quarter. CENTRAL TRUST Co now owns 8,881 shares of the energy company’s stock valued at $429,000 after purchasing an additional 1,550 shares during the period. Vanguard Personalized Indexing Management LLC increased its position in Devon Energy by 3.6% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 67,064 shares of the energy company’s stock worth $3,242,000 after buying an additional 2,302 shares during the last quarter. ProShare Advisors LLC increased its position in Devon Energy by 9.8% during the first quarter. ProShare Advisors LLC now owns 183,900 shares of the energy company’s stock worth $9,307,000 after buying an additional 16,361 shares during the last quarter. Allworth Financial LP increased its position in Devon Energy by 201.2% during the second quarter. Allworth Financial LP now owns 9,557 shares of the energy company’s stock worth $462,000 after buying an additional 6,384 shares during the last quarter. Finally, VitalStone Financial LLC increased its position in Devon Energy by 615.7% during the first quarter. VitalStone Financial LLC now owns 30,632 shares of the energy company’s stock worth $1,354,000 after buying an additional 26,352 shares during the last quarter. 68.34% of the stock is owned by institutional investors and hedge funds.

Devon Energy Stock Up 1.4 %

DVN stock opened at $44.09 on Friday. Devon Energy Co. has a twelve month low of $42.59 and a twelve month high of $66.96. The company has a market cap of $28.25 billion, a PE ratio of 7.54, a price-to-earnings-growth ratio of 0.14 and a beta of 2.20. The business’s 50-day simple moving average is $45.99 and its 200 day simple moving average is $48.49. The company has a quick ratio of 0.89, a current ratio of 0.96 and a debt-to-equity ratio of 0.48.

Devon Energy (NYSE:DVN – Get Free Report) last released its quarterly earnings data on Tuesday, November 7th. The energy company reported $1.65 earnings per share for the quarter, beating analysts’ consensus estimates of $1.56 by $0.09. The company had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $4.03 billion. Devon Energy had a return on equity of 33.97% and a net margin of 24.63%. On average, research analysts anticipate that Devon Energy Co. will post 5.86 earnings per share for the current year.

Devon Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be issued a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 6.99%. This is an increase from Devon Energy’s previous quarterly dividend of $0.49. The ex-dividend date is Thursday, December 14th. Devon Energy’s payout ratio is presently 13.68%.

Analysts Set New Price Targets

Several research firms have commented on DVN. Wells Fargo & Company lowered their target price on shares of Devon Energy from $50.00 to $48.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 22nd. Sanford C. Bernstein downgraded shares of Devon Energy from an “outperform” rating to a “market perform” rating and set a $48.00 target price on the stock. in a research report on Tuesday, October 17th. Morgan Stanley decreased their price target on shares of Devon Energy from $50.00 to $48.00 and set an “equal weight” rating for the company in a report on Wednesday, November 29th. Mizuho decreased their price target on shares of Devon Energy from $62.00 to $58.00 and set a “buy” rating for the company in a report on Thursday, October 12th. Finally, Royal Bank of Canada decreased their price target on shares of Devon Energy from $60.00 to $55.00 and set a “sector perform” rating for the company in a report on Wednesday, November 15th. Seven equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Devon Energy currently has a consensus rating of “Moderate Buy” and an average price target of $57.76.

View Our Latest Stock Report on Devon Energy

About Devon Energy

(Free Report)

Devon Energy Corporation, an independent energy company, explores for, develops, and produces oil, natural gas, and natural gas liquids in the United States. It operates in Delaware, Anadarko, Williston, Eagle Ford, and Powder River Basin. The company was incorporated in 1971 and is headquartered in Oklahoma City, Oklahoma.

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