Keynote Financial Services LLC Boosts Stock Holdings in Devon Energy Co. (NYSE:DVN)

Keynote Financial Services LLC grew its position in Devon Energy Co. (NYSE:DVN) by 14.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,763 shares of the energy company’s stock after purchasing an additional 836 shares during the period. Keynote Financial Services LLC’s holdings in Devon Energy were worth $221,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in DVN. Bridgewater Associates LP purchased a new stake in Devon Energy in the 3rd quarter valued at about $9,426,000. Legacy Investment Solutions LLC bought a new position in shares of Devon Energy in the third quarter valued at approximately $8,002,000. Petrus Trust Company LTA increased its position in shares of Devon Energy by 394.7% during the third quarter. Petrus Trust Company LTA now owns 21,827 shares of the energy company’s stock valued at $854,000 after acquiring an additional 17,415 shares during the last quarter. CIBC Asset Management Inc lifted its holdings in Devon Energy by 6.3% during the third quarter. CIBC Asset Management Inc now owns 107,182 shares of the energy company’s stock worth $4,193,000 after acquiring an additional 6,358 shares during the period. Finally, Smead Capital Management Inc. grew its stake in Devon Energy by 3.5% in the 3rd quarter. Smead Capital Management Inc. now owns 5,879,516 shares of the energy company’s stock valued at $230,007,000 after purchasing an additional 198,193 shares during the period. 69.72% of the stock is owned by institutional investors.

Devon Energy Stock Up 1.0 %

DVN opened at $36.24 on Friday. The firm has a market capitalization of $23.52 billion, a P/E ratio of 7.95, a price-to-earnings-growth ratio of 1.20 and a beta of 1.98. Devon Energy Co. has a one year low of $30.39 and a one year high of $55.09. The company has a fifty day moving average price of $34.94 and a 200-day moving average price of $38.05. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 1.01.

Devon Energy (NYSE:DVN) last posted its earnings results on Tuesday, February 18th. The energy company reported $1.16 EPS for the quarter, topping the consensus estimate of $1.00 by $0.16. Devon Energy had a return on equity of 22.52% and a net margin of 18.14%. The business had revenue of $4.40 billion during the quarter, compared to analysts’ expectations of $4.25 billion. Equities research analysts expect that Devon Energy Co. will post 4.85 earnings per share for the current fiscal year.

Devon Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a $0.24 dividend. This is an increase from Devon Energy’s previous quarterly dividend of $0.22. This represents a $0.96 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date is Friday, March 14th. Devon Energy’s dividend payout ratio (DPR) is currently 21.05%.

Analysts Set New Price Targets

DVN has been the topic of a number of recent analyst reports. StockNews.com upgraded Devon Energy from a “sell” rating to a “hold” rating in a research note on Friday, January 3rd. Barclays boosted their target price on shares of Devon Energy from $43.00 to $44.00 and gave the company an “equal weight” rating in a research note on Thursday, February 20th. TD Cowen decreased their price target on shares of Devon Energy from $54.00 to $46.00 and set a “hold” rating for the company in a research note on Tuesday, November 5th. Sanford C. Bernstein raised shares of Devon Energy from a “market perform” rating to an “outperform” rating and set a $45.00 price target on the stock in a report on Wednesday, January 15th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $50.00 price objective on shares of Devon Energy in a report on Friday, January 10th. Ten investment 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 presently has an average rating of “Moderate Buy” and a consensus target price of $48.87.

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.