15,122 Shares in Devon Energy Co. (NYSE:DVN) Bought by Nations Financial Group Inc. IA ADV

Nations Financial Group Inc. IA ADV purchased a new stake in Devon Energy Co. (NYSE:DVN) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 15,122 shares of the energy company’s stock, valued at approximately $592,000.

Several other large investors also recently bought and sold shares of the stock. Triad Wealth Partners LLC purchased a new stake in Devon Energy in the 2nd quarter valued at $27,000. 1620 Investment Advisors Inc. purchased a new stake in shares of Devon Energy in the second quarter valued at about $34,000. Capital Performance Advisors LLP acquired a new stake in shares of Devon Energy during the third quarter worth about $35,000. PSI Advisors LLC increased its position in Devon Energy by 66.7% in 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 purchased a new stake in Devon Energy during the 1st quarter valued at approximately $39,000. Institutional investors and hedge funds own 69.72% of the company’s stock.

Devon Energy Stock Up 2.0 %

Devon Energy stock opened at $39.10 on Thursday. The firm has a market capitalization of $25.68 billion, a price-to-earnings ratio of 7.25, a price-to-earnings-growth ratio of 1.19 and a beta of 2.03. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.11. Devon Energy Co. has a fifty-two week low of $37.76 and a fifty-two week high of $55.09. The stock’s fifty day moving average is $40.20 and its two-hundred day moving average is $44.55.

Devon Energy (NYSE:DVN) last posted its earnings results on Tuesday, November 5th. The energy company reported $1.10 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.01. The firm had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $3.72 billion. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period last year, the firm posted $1.65 EPS. Analysts predict that Devon Energy Co. will post 4.86 EPS for the current fiscal year.

Devon Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date is Friday, December 13th. Devon Energy’s payout ratio is currently 16.33%.

Analyst Ratings Changes

Several brokerages have weighed in on DVN. Benchmark reiterated a “hold” rating on shares of Devon Energy in a research note on Tuesday, October 15th. BMO Capital Markets lowered their price objective on shares of Devon Energy from $52.00 to $48.00 and set an “outperform” rating on the stock in a research report on Friday, October 4th. TD Cowen cut their price objective on shares of Devon Energy from $54.00 to $46.00 and set a “hold” rating for the company in a research report on Tuesday, November 5th. Raymond James reduced their target price on shares of Devon Energy from $58.00 to $51.00 in a research note on Tuesday, November 5th. Finally, UBS Group dropped their price target on shares of Devon Energy from $53.00 to $47.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, Devon Energy has an average rating of “Hold” and a consensus price target of $51.80.

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.