KMG Fiduciary Partners LLC Purchases 1,613 Shares of Devon Energy Co. (NYSE:DVN)

KMG Fiduciary Partners LLC increased its position in Devon Energy Co. (NYSE:DVN) by 4.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 35,900 shares of the energy company’s stock after purchasing an additional 1,613 shares during the period. KMG Fiduciary Partners LLC’s holdings in Devon Energy were worth $1,404,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in DVN. Wellington Management Group LLP raised its position in shares of Devon Energy by 9.8% in the 4th quarter. Wellington Management Group LLP now owns 173,024 shares of the energy company’s stock worth $7,838,000 after purchasing an additional 15,384 shares during the last quarter. Los Angeles Capital Management LLC purchased a new position in shares of Devon Energy in the first quarter worth $951,000. Mather Group LLC. bought a new position in shares of Devon Energy during the first quarter valued at $121,000. Gulf International Bank UK Ltd boosted its position in shares of Devon Energy by 17.4% during the first quarter. Gulf International Bank UK Ltd now owns 60,704 shares of the energy company’s stock valued at $3,046,000 after buying an additional 9,000 shares during the last quarter. Finally, Rockland Trust Co. purchased a new position in Devon Energy in the 1st quarter worth about $215,000. Institutional investors own 69.72% of the company’s stock.

Devon Energy Trading Up 0.2 %

Shares of Devon Energy stock opened at $40.66 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.03 and a current ratio of 1.11. The company has a fifty day moving average of $42.15 and a 200 day moving average of $46.28. The company has a market capitalization of $25.70 billion, a P/E ratio of 7.76, a P/E/G ratio of 1.27 and a beta of 2.02. Devon Energy Co. has a fifty-two week low of $37.76 and a fifty-two week high of $55.09.

Devon Energy (NYSE:DVN) last released its quarterly earnings data on Tuesday, August 6th. The energy company reported $1.41 earnings per share 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 analyst estimates of $3.90 billion. Devon Energy had a return on equity of 29.14% and a net margin of 22.60%. The business’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.18 earnings per share. On average, sell-side analysts anticipate that Devon Energy Co. will post 5.01 earnings per share for the current fiscal year.

Devon Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date of this dividend was Friday, September 13th. Devon Energy’s dividend payout ratio (DPR) is currently 16.79%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on DVN. Evercore ISI reduced their price target on shares of Devon Energy from $55.00 to $50.00 and set an “in-line” rating for the company in a research note on Monday, September 30th. Mizuho decreased their target price on shares of Devon Energy from $53.00 to $51.00 and set an “outperform” rating for the company in a research note on Wednesday, October 9th. Scotiabank dropped their price target on Devon Energy from $60.00 to $48.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Sanford C. Bernstein reduced their price objective on Devon Energy from $48.00 to $43.00 and set a “market perform” rating for the company in a research report on Wednesday, July 17th. Finally, Jefferies Financial Group began coverage on Devon Energy in a research report on Thursday, October 3rd. They issued a “hold” rating and a $45.00 target price on the stock. Nine equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $52.53.

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.