Radnor Capital Management LLC Buys 2,505 Shares of Devon Energy Co. (NYSE:DVN)

Radnor Capital Management LLC raised its stake in shares of Devon Energy Co. (NYSE:DVN) by 14.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,955 shares of the energy company’s stock after buying an additional 2,505 shares during the quarter. Radnor Capital Management LLC’s holdings in Devon Energy were worth $781,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Long Run Wealth Advisors LLC raised its position in shares of Devon Energy by 10.3% in the 3rd quarter. Long Run Wealth Advisors LLC now owns 6,064 shares of the energy company’s stock worth $237,000 after purchasing an additional 568 shares during the last quarter. Crescent Grove Advisors LLC purchased a new position in Devon Energy in the third quarter worth about $403,000. Moloney Securities Asset Management LLC bought a new position in shares of Devon Energy in the third quarter worth approximately $1,057,000. Hazlett Burt & Watson Inc. grew its holdings in shares of Devon Energy by 29.8% during the third quarter. Hazlett Burt & Watson Inc. now owns 1,263 shares of the energy company’s stock valued at $49,000 after buying an additional 290 shares during the last quarter. Finally, QRG Capital Management Inc. increased its position in shares of Devon Energy by 2.8% during the third quarter. QRG Capital Management Inc. now owns 23,515 shares of the energy company’s stock valued at $920,000 after acquiring an additional 630 shares in the last quarter. 69.72% of the stock is owned by hedge funds and other institutional investors.

Devon Energy Stock Up 1.7 %

Shares of DVN opened at $40.01 on Thursday. The company has a market cap of $25.05 billion, a PE ratio of 7.42, a P/E/G ratio of 1.18 and a beta of 2.03. The business has a fifty day moving average of $40.81 and a 200 day moving average of $45.06. Devon Energy Co. has a 52-week low of $37.76 and a 52-week high of $55.09. 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 quarterly earnings results on Tuesday, November 5th. The energy company reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.01. The company had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $3.72 billion. Devon Energy had a return on equity of 29.14% and a net margin of 22.60%. Devon Energy’s revenue was up 4.9% on a year-over-year basis. During the same period last year, the company earned $1.65 earnings per share. On average, sell-side analysts expect that Devon Energy Co. will post 4.93 EPS for the current year.

Devon Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be paid a $0.22 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.88 dividend on an annualized basis and a yield of 2.20%. Devon Energy’s payout ratio is 16.33%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Royal Bank of Canada reiterated a “sector perform” rating and issued a $57.00 price objective on shares of Devon Energy in a report on Tuesday, September 3rd. UBS Group dropped their target price on shares of Devon Energy from $53.00 to $47.00 and set a “neutral” rating on the stock in a report on Wednesday, September 18th. Susquehanna cut their price objective on Devon Energy from $63.00 to $62.00 and set a “positive” rating for the company in a report on Friday, October 18th. Raymond James cut their target price on shares of Devon Energy from $58.00 to $51.00 in a research report on Tuesday. Finally, Benchmark reiterated a “hold” rating on shares of Devon Energy in a research report on Tuesday, October 15th. Ten equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $52.15.

About Devon Energy

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.