Devon Energy Co. (NYSE:DVN) Shares Acquired by Benjamin F. Edwards & Company Inc.

Benjamin F. Edwards & Company Inc. raised its stake in shares of Devon Energy Co. (NYSE:DVN) by 53.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,846 shares of the energy company’s stock after acquiring an additional 4,460 shares during the quarter. Benjamin F. Edwards & Company Inc.’s holdings in Devon Energy were worth $609,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Salem Investment Counselors Inc. grew its holdings in 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 in the last quarter. Retirement Group LLC raised its position in shares of Devon Energy by 21.8% during the first quarter. Retirement Group LLC now owns 1,110 shares of the energy company’s stock worth $56,000 after purchasing an additional 199 shares during the period. Whittier Trust Co. of Nevada Inc. lifted its stake in Devon Energy by 7.4% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 3,046 shares of the energy company’s stock valued at $153,000 after buying an additional 209 shares in the last quarter. MCF Advisors LLC lifted its position in shares of Devon Energy by 5.6% in the 1st quarter. MCF Advisors LLC now owns 4,023 shares of the energy company’s stock valued at $202,000 after acquiring an additional 215 shares in the last quarter. Finally, Annex Advisory Services LLC lifted its holdings in shares of Devon Energy by 0.8% in the second 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 in the last quarter. Institutional investors own 69.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on DVN. UBS Group lowered their price objective on shares of Devon Energy from $53.00 to $47.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 18th. StockNews.com lowered Devon Energy from a “buy” rating to a “hold” rating in a report on Monday, September 2nd. Sanford C. Bernstein cut their target price on shares of Devon Energy from $48.00 to $43.00 and set a “market perform” rating for the company in a research report on Wednesday, July 17th. Royal Bank of Canada reissued a “sector perform” rating and issued a $57.00 price target on shares of Devon Energy in a report on Tuesday, September 3rd. Finally, Wells Fargo & Company lowered their target price on shares of Devon Energy from $57.00 to $55.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 14th. Six equities research 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 MarketBeat, Devon Energy presently has a consensus rating of “Moderate Buy” and an average target price of $57.00.

Devon Energy Price Performance

DVN stock opened at $41.01 on Wednesday. Devon Energy Co. has a 12-month low of $39.02 and a 12-month high of $55.09. 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 company’s fifty day simple moving average is $43.77 and its 200 day simple moving average is $47.23. The firm has a market cap of $25.92 billion, a price-to-earnings ratio of 7.83, a PEG ratio of 1.13 and a beta of 2.03.

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

Devon Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.15%. The ex-dividend date of this dividend is Friday, September 13th. Devon Energy’s dividend payout ratio is presently 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.