TD Private Client Wealth LLC Purchases 1,617 Shares of Devon Energy Co. (NYSE:DVN)

TD Private Client Wealth LLC lifted its holdings in Devon Energy Co. (NYSE:DVN) by 87.5% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,465 shares of the energy company’s stock after purchasing an additional 1,617 shares during the period. TD Private Client Wealth LLC’s holdings in Devon Energy were worth $113,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in DVN. EnCap Energy Capital Fund XI L.P. bought a new position in Devon Energy in the third quarter worth approximately $461,857,000. EnCap Partners GP LLC purchased a new stake in shares of Devon Energy in the 3rd quarter worth $408,653,000. EnCap Energy Capital Fund X L.P. bought a new position in Devon Energy in the 3rd quarter worth $230,928,000. Raymond James Financial Inc. purchased a new position in Devon Energy during the fourth quarter valued at $154,170,000. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in Devon Energy by 90.8% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 2,724,407 shares of the energy company’s stock valued at $89,170,000 after purchasing an additional 1,296,590 shares during the period. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on DVN. StockNews.com raised Devon Energy from a “sell” rating to a “hold” rating in a research report on Friday, January 3rd. Williams Trading set a $50.00 price target on shares of Devon Energy in a report on Wednesday, March 5th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $50.00 price target on shares of Devon Energy in a research report on Friday, January 10th. Sanford C. Bernstein upgraded shares of Devon Energy from a “market perform” rating to an “outperform” rating and set a $45.00 price objective on the stock in a research report on Wednesday, January 15th. Finally, Mizuho dropped their target price on shares of Devon Energy from $51.00 to $47.00 and set an “outperform” rating for the company in a report on Monday, December 16th. Ten research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, Devon Energy currently has an average rating of “Moderate Buy” and a consensus price target of $48.46.

Devon Energy Price Performance

DVN stock opened at $36.96 on Wednesday. Devon Energy Co. has a 52 week low of $30.39 and a 52 week high of $55.09. The firm has a market capitalization of $23.99 billion, a P/E ratio of 8.11, a price-to-earnings-growth ratio of 1.20 and a beta of 1.91. The company has a fifty day simple moving average of $35.46 and a two-hundred day simple moving average of $36.92. The company has a quick ratio of 1.01, a current ratio of 1.04 and a debt-to-equity ratio of 0.57.

Devon Energy (NYSE:DVN) last announced its quarterly earnings results on Tuesday, February 18th. The energy company reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.16. Devon Energy had a net margin of 18.14% and a return on equity of 22.52%. The firm had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.25 billion. Analysts anticipate 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. Stockholders of record on Friday, March 14th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.96 annualized dividend and a dividend yield of 2.60%. This is an increase from Devon Energy’s previous quarterly dividend of $0.22. Devon Energy’s payout ratio is currently 21.05%.

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.