Sequoia Financial Advisors LLC Buys 6,987 Shares of Devon Energy Co. (NYSE:DVN)

Sequoia Financial Advisors LLC increased its stake in Devon Energy Co. (NYSE:DVN) by 19.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 42,698 shares of the energy company’s stock after buying an additional 6,987 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Devon Energy were worth $1,398,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of DVN. EnCap Energy Capital Fund XI L.P. purchased a new stake in shares of Devon Energy in the third quarter valued at $461,857,000. EnCap Partners GP LLC bought a new position in Devon Energy during the 3rd quarter valued at about $408,653,000. EnCap Energy Capital Fund X L.P. purchased a new stake in Devon Energy in the 3rd quarter worth about $230,928,000. Raymond James Financial Inc. bought a new stake in Devon Energy in the fourth quarter worth about $154,170,000. Finally, Pacer Advisors Inc. boosted its position in shares of Devon Energy by 16.9% during the third quarter. Pacer Advisors Inc. now owns 11,591,168 shares of the energy company’s stock valued at $453,446,000 after buying an additional 1,677,652 shares during the period. 69.72% of the stock is owned by hedge funds and other institutional investors.

Devon Energy Trading Up 2.1 %

NYSE DVN opened at $34.50 on Friday. The firm has a market cap of $22.39 billion, a PE ratio of 7.56, a price-to-earnings-growth ratio of 1.20 and a beta of 1.91. Devon Energy Co. has a 52 week low of $30.39 and a 52 week high of $55.09. The company has a quick ratio of 1.01, a current ratio of 1.04 and a debt-to-equity ratio of 0.57. The company has a 50 day moving average price of $35.38 and a 200 day moving average price of $37.32.

Devon Energy (NYSE:DVN) last announced its earnings results on Tuesday, February 18th. The energy company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.16. The company had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.25 billion. Devon Energy had a return on equity of 22.52% and a net margin of 18.14%. As a group, sell-side analysts forecast that Devon Energy Co. will post 4.85 EPS 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. The ex-dividend date is Friday, March 14th. This is a boost from Devon Energy’s previous quarterly dividend of $0.22. This represents a $0.96 dividend on an annualized basis and a yield of 2.78%. Devon Energy’s dividend payout ratio (DPR) is 21.05%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on DVN shares. Citigroup downgraded Devon Energy from a “buy” rating to a “reduce” rating in a report on Wednesday, March 5th. Williams Trading set a $50.00 target price on Devon Energy in a research report on Wednesday, March 5th. Barclays upped their price target on shares of Devon Energy from $43.00 to $44.00 and gave the stock an “equal weight” rating in a report on Thursday, February 20th. StockNews.com upgraded shares of Devon Energy from a “sell” rating to a “hold” rating in a report on Friday, January 3rd. Finally, Wells Fargo & Company dropped their target price on shares of Devon Energy from $49.00 to $43.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 17th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $48.54.

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.