Axxcess Wealth Management LLC Has $699,000 Stock Holdings in Devon Energy Co. (NYSE:DVN)

Axxcess Wealth Management LLC increased its position in Devon Energy Co. (NYSE:DVN) by 116.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 14,737 shares of the energy company’s stock after purchasing an additional 7,937 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Devon Energy were worth $699,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of DVN. Triad Wealth Partners LLC acquired a new stake in shares of Devon Energy in the second quarter valued at approximately $27,000. Tradewinds Capital Management LLC acquired a new stake in Devon Energy during the 1st quarter valued at $30,000. 1620 Investment Advisors Inc. bought a new position in Devon Energy during the second quarter worth $34,000. Jones Financial Companies Lllp increased its holdings in shares of Devon Energy by 104.8% in the fourth quarter. Jones Financial Companies Lllp now owns 731 shares of the energy company’s stock valued at $33,000 after purchasing an additional 374 shares during the last quarter. Finally, PSI Advisors LLC raised its position in shares of Devon Energy by 66.7% in the second quarter. PSI Advisors LLC now owns 750 shares of the energy company’s stock valued at $36,000 after purchasing an additional 300 shares during the period. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently commented on DVN shares. Susquehanna decreased their price target on shares of Devon Energy from $65.00 to $63.00 and set a “positive” rating on the stock in a research note on Wednesday, September 4th. Sanford C. Bernstein dropped their price target on Devon Energy from $48.00 to $43.00 and set a “market perform” rating for the company in a report on Wednesday, July 17th. Wells Fargo & Company dropped their target price on Devon Energy from $57.00 to $55.00 and set an “overweight” rating for the company in a report on Wednesday, August 14th. UBS Group decreased their price target on shares of Devon Energy from $53.00 to $47.00 and set a “neutral” rating on the stock in a research note on Wednesday. Finally, Morgan Stanley cut their price objective on shares of Devon Energy from $55.00 to $51.00 and set an “overweight” rating for the company in a report on Monday. Six investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Devon Energy has a consensus rating of “Moderate Buy” and a consensus target price of $57.00.

Devon Energy Trading Up 1.5 %

Shares of DVN opened at $40.97 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.03 and a current ratio of 1.11. Devon Energy Co. has a 52-week low of $39.02 and a 52-week high of $55.09. The firm has a market cap of $25.89 billion, a price-to-earnings ratio of 7.86, a PEG ratio of 1.13 and a beta of 2.03. The business’s fifty day moving average is $44.28 and its 200-day moving average is $47.35.

Devon Energy (NYSE:DVN) last issued its earnings results on Tuesday, August 6th. The energy company reported $1.41 EPS for the quarter, topping the consensus estimate of $1.26 by $0.15. Devon Energy had a return on equity of 29.14% and a net margin of 22.60%. The firm had revenue of $3.92 billion during the quarter, compared to the consensus estimate of $3.90 billion. During the same quarter in the previous year, the firm earned $1.18 earnings per share. The business’s quarterly revenue was up 13.4% on a year-over-year basis. Equities analysts anticipate that Devon Energy Co. will post 5.36 EPS for the current fiscal year.

Devon Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be given a $0.22 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.88 dividend on an annualized basis and a yield of 2.15%. Devon Energy’s dividend payout ratio is currently 16.79%.

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.