Charles Schwab Investment Management Inc. Purchases 69,442 Shares of Devon Energy Co. (NYSE:DVN)

Charles Schwab Investment Management Inc. raised its position in shares of Devon Energy Co. (NYSE:DVN) by 1.8% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,881,720 shares of the energy company’s stock after acquiring an additional 69,442 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.59% of Devon Energy worth $151,853,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Triad Wealth Partners LLC purchased a new stake in Devon Energy in the second quarter worth $27,000. 1620 Investment Advisors Inc. purchased a new stake in shares of Devon Energy in the 2nd quarter worth about $34,000. Capital Performance Advisors LLP bought a new position in shares of Devon Energy in the 3rd quarter worth about $35,000. PSI Advisors LLC lifted its position in Devon Energy by 66.7% during the 2nd quarter. PSI Advisors LLC now owns 750 shares of the energy company’s stock valued at $36,000 after acquiring an additional 300 shares during the period. Finally, LRI Investments LLC bought a new stake in Devon Energy during the first quarter worth about $39,000. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Devon Energy Stock Performance

DVN stock opened at $39.45 on Monday. The company has a market cap of $25.91 billion, a P/E ratio of 7.32, a price-to-earnings-growth ratio of 1.22 and a beta of 2.03. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.11 and a quick ratio of 1.01. Devon Energy Co. has a 1 year low of $37.76 and a 1 year high of $55.09. The stock’s fifty day moving average price is $39.94 and its 200-day moving average price is $43.90.

Devon Energy (NYSE:DVN) last released its quarterly earnings results on Tuesday, November 5th. The energy company reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.09 by $0.01. Devon Energy had a return on equity of 24.73% and a net margin of 21.71%. The business had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $3.72 billion. During the same period in the previous year, the company posted $1.65 EPS. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. On average, equities analysts forecast that Devon Energy Co. will post 4.79 earnings per share for the current year.

Devon Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be given a $0.22 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.88 annualized dividend and a yield of 2.23%. Devon Energy’s payout ratio is presently 16.33%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on DVN shares. Jefferies Financial Group assumed coverage on shares of Devon Energy in a report on Thursday, October 3rd. They set a “hold” rating and a $45.00 target price for the company. Benchmark reiterated a “hold” rating on shares of Devon Energy in a research note on Tuesday, October 15th. Barclays cut their target price on Devon Energy from $55.00 to $46.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 3rd. Evercore ISI lowered their price target on Devon Energy from $55.00 to $50.00 and set an “in-line” rating for the company in a research report on Monday, September 30th. Finally, Scotiabank cut their price objective on shares of Devon Energy from $60.00 to $48.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $51.85.

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.