Perpetual Ltd Boosts Stake in Devon Energy Co. (NYSE:DVN)

Perpetual Ltd lifted its stake in Devon Energy Co. (NYSE:DVN) by 165.2% in the 4th quarter, Holdings Channel reports. The firm owned 16,268 shares of the energy company’s stock after purchasing an additional 10,133 shares during the quarter. Perpetual Ltd’s holdings in Devon Energy were worth $532,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP acquired a new position in Devon Energy during the third quarter worth about $35,000. Future Financial Wealth Managment LLC acquired a new stake in shares of Devon Energy during the third quarter worth $39,000. True Wealth Design LLC grew its holdings in Devon Energy by 3,889.3% in the 3rd quarter. True Wealth Design LLC now owns 1,117 shares of the energy company’s stock valued at $44,000 after buying an additional 1,089 shares during the period. Hazlett Burt & Watson Inc. boosted its holdings in shares of Devon Energy by 29.8% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 1,263 shares of the energy company’s stock valued at $49,000 after purchasing an additional 290 shares during the last quarter. Finally, Activest Wealth Management grew its position in Devon Energy by 60.4% during the third quarter. Activest Wealth Management now owns 1,275 shares of the energy company’s stock valued at $50,000 after acquiring an additional 480 shares during the period. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Devon Energy Stock Performance

Shares of DVN opened at $36.46 on Thursday. The stock has a market capitalization of $23.95 billion, a PE ratio of 6.76, a price-to-earnings-growth ratio of 1.26 and a beta of 2.00. The business’s fifty day moving average price is $35.37 and its 200 day moving average price is $40.05. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.11 and a quick ratio of 1.01. Devon Energy Co. has a 12-month low of $30.39 and a 12-month high of $55.09.

Devon Energy (NYSE:DVN) last posted 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. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%. The company had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $3.72 billion. During the same period last year, the firm posted $1.65 EPS. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. Equities research analysts forecast that Devon Energy Co. will post 4.68 EPS for the current year.

Devon Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Friday, December 13th were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.88 dividend on an annualized basis and a yield of 2.41%. Devon Energy’s dividend payout ratio is currently 16.33%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Susquehanna dropped their target price on shares of Devon Energy from $63.00 to $62.00 and set a “positive” rating for the company in a research report on Friday, October 18th. Barclays cut their target price on shares of Devon Energy from $55.00 to $46.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 3rd. Citigroup decreased their price target on shares of Devon Energy from $55.00 to $48.00 and set a “buy” rating for the company in a research report on Tuesday, November 26th. Raymond James cut their price objective on Devon Energy from $58.00 to $51.00 in a research report on Tuesday, November 5th. Finally, Sanford C. Bernstein raised Devon Energy from a “market perform” rating to an “outperform” rating and set a $45.00 target price for the company in a research report on Wednesday, January 15th. Nine investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, Devon Energy currently has a consensus rating of “Moderate Buy” and an average target price of $49.27.

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.