Trust Investment Advisors Raises Position in Devon Energy Co. (NYSE:DVN)

Trust Investment Advisors grew its position in shares of Devon Energy Co. (NYSE:DVN) by 8.3% during the second quarter, according to its most recent filing with the SEC. The firm owned 21,515 shares of the energy company’s stock after acquiring an additional 1,640 shares during the period. Trust Investment Advisors’ holdings in Devon Energy were worth $1,020,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in DVN. Salem Investment Counselors Inc. boosted its stake in shares of Devon Energy by 31.4% in the 1st quarter. Salem Investment Counselors Inc. now owns 832 shares of the energy company’s stock worth $42,000 after buying an additional 199 shares during the last quarter. Retirement Group LLC lifted its holdings in Devon Energy by 21.8% in the first quarter. Retirement Group LLC now owns 1,110 shares of the energy company’s stock valued at $56,000 after acquiring an additional 199 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its position in Devon Energy by 7.4% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 3,046 shares of the energy company’s stock worth $153,000 after purchasing an additional 209 shares during the last quarter. MCF Advisors LLC grew its stake in shares of Devon Energy by 5.6% during the 1st quarter. MCF Advisors LLC now owns 4,023 shares of the energy company’s stock valued at $202,000 after purchasing an additional 215 shares during the period. Finally, Annex Advisory Services LLC increased its position in shares of Devon Energy by 0.8% during the 2nd quarter. Annex Advisory Services LLC now owns 27,651 shares of the energy company’s stock valued at $1,311,000 after purchasing an additional 223 shares during the last quarter. Institutional investors own 69.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on DVN. BMO Capital Markets raised shares of Devon Energy to a “strong-buy” rating in a report on Wednesday, July 3rd. UBS Group cut their price objective on shares of Devon Energy from $53.00 to $47.00 and set a “neutral” rating for the company in a research report on Wednesday. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $57.00 price objective on shares of Devon Energy in a research note on Tuesday, September 3rd. Sanford C. Bernstein lowered their price objective on Devon Energy from $48.00 to $43.00 and set a “market perform” rating on the stock in a research report on Wednesday, July 17th. Finally, Wolfe Research began coverage on shares of Devon Energy in a report on Thursday, July 18th. They issued a “peer perform” rating for the company. Six equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $57.00.

Devon Energy Trading Up 1.5 %

Shares of Devon Energy stock opened at $40.97 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.11 and a debt-to-equity ratio of 0.45. The firm has a market cap of $25.89 billion, a price-to-earnings ratio of 7.82, a PEG ratio of 1.13 and a beta of 2.03. Devon Energy Co. has a twelve month low of $39.02 and a twelve month high of $55.09. The business has a 50-day moving average price of $44.28 and a 200-day moving average price of $47.35.

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

Devon Energy Dividend Announcement

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

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.