Hancock Whitney Corp Acquires 1,104 Shares of Devon Energy Co. (NYSE:DVN)

Hancock Whitney Corp raised its stake in shares of Devon Energy Co. (NYSE:DVN) by 8.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,823 shares of the energy company’s stock after purchasing an additional 1,104 shares during the quarter. Hancock Whitney Corp’s holdings in Devon Energy were worth $580,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of DVN. Jacobs Levy Equity Management Inc. purchased a new position in shares of Devon Energy during the 1st quarter worth approximately $373,000. Tidal Investments LLC boosted its position in shares of Devon Energy by 32.3% during the first quarter. Tidal Investments LLC now owns 112,100 shares of the energy company’s stock valued at $5,596,000 after purchasing an additional 27,357 shares in the last quarter. Comerica Bank grew its stake in Devon Energy by 8.5% in the first quarter. Comerica Bank now owns 238,558 shares of the energy company’s stock worth $11,971,000 after purchasing an additional 18,784 shares during the period. Montchanin Asset Management LLC bought a new position in Devon Energy in the first quarter worth $1,670,000. Finally, Citizens Financial Group Inc. RI lifted its position in Devon Energy by 2.6% during the first quarter. Citizens Financial Group Inc. RI now owns 9,480 shares of the energy company’s stock valued at $476,000 after buying an additional 236 shares during the period. 69.72% of the stock is owned by institutional investors.

Devon Energy Trading Down 1.5 %

Shares of DVN stock opened at $37.71 on Wednesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.11 and a quick ratio of 1.01. The company has a market cap of $24.77 billion, a price-to-earnings ratio of 7.00, a PEG ratio of 1.25 and a beta of 2.03. Devon Energy Co. has a 1 year low of $37.28 and a 1 year high of $55.09. The firm has a fifty day moving average price of $39.91 and a 200-day moving average price of $43.81.

Devon Energy (NYSE:DVN) last announced its quarterly earnings data on Tuesday, November 5th. The energy company reported $1.10 earnings per share (EPS) for the quarter, beating 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 24.73% and a net margin of 21.71%. The firm’s revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.65 EPS. As a group, equities analysts predict that Devon Energy Co. will post 4.79 earnings per share for the current year.

Devon Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.33%. The ex-dividend date is Friday, December 13th. Devon Energy’s dividend payout ratio is currently 16.33%.

Analysts Set New Price Targets

DVN has been the subject of several research reports. 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. Jefferies Financial Group assumed coverage on shares of Devon Energy in a research note on Thursday, October 3rd. They set a “hold” rating and a $45.00 target price for the company. StockNews.com cut Devon Energy from a “hold” rating to a “sell” rating in a research report on Thursday, November 7th. Scotiabank cut 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. Finally, Citigroup lowered their price objective on Devon Energy from $55.00 to $48.00 and set a “buy” rating for the company in a research note on Tuesday. One analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $51.15.

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.