Saxon Interests Inc. Grows Holdings in Devon Energy Co. (NYSE:DVN)

Saxon Interests Inc. raised its position in Devon Energy Co. (NYSE:DVN) by 15.9% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 23,895 shares of the energy company’s stock after buying an additional 3,285 shares during the period. Saxon Interests Inc.’s holdings in Devon Energy were worth $935,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of DVN. Future Financial Wealth Managment LLC bought a new stake in Devon Energy in the third quarter worth about $39,000. Sage Capital Advisors llc increased its position in Devon Energy by 9.0% in the third quarter. Sage Capital Advisors llc now owns 5,999 shares of the energy company’s stock worth $235,000 after buying an additional 495 shares during the last quarter. Brookstone Capital Management raised its stake in Devon Energy by 19.2% in the 3rd quarter. Brookstone Capital Management now owns 10,458 shares of the energy company’s stock valued at $409,000 after acquiring an additional 1,687 shares during the period. Sugarloaf Wealth Management LLC raised its position in shares of Devon Energy by 56.1% in the third quarter. Sugarloaf Wealth Management LLC now owns 6,069 shares of the energy company’s stock valued at $237,000 after purchasing an additional 2,181 shares during the period. Finally, Richard P Slaughter Associates Inc raised its holdings in Devon Energy by 23.4% during the 3rd quarter. Richard P Slaughter Associates Inc now owns 37,378 shares of the energy company’s stock valued at $1,462,000 after acquiring an additional 7,087 shares during the period. 69.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. StockNews.com downgraded shares of Devon Energy from a “buy” rating to a “hold” rating in a report on Monday, September 2nd. Morgan Stanley cut their target price on Devon Energy from $55.00 to $51.00 and set an “overweight” rating for the company in a research note on Monday, September 16th. Sanford C. Bernstein decreased their price target on shares of Devon Energy from $48.00 to $43.00 and set a “market perform” rating on the stock in a research note on Wednesday, July 17th. BMO Capital Markets cut their price objective on shares of Devon Energy from $52.00 to $48.00 and set an “outperform” rating for the company in a research note on Friday, October 4th. Finally, Mizuho decreased their target price on shares of Devon Energy from $53.00 to $51.00 and set an “outperform” rating on the stock in a research report on Wednesday. Eight investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $53.26.

Devon Energy Stock Down 0.0 %

Shares of NYSE DVN traded down $0.01 on Wednesday, reaching $41.67. 1,620,005 shares of the company’s stock traded hands, compared to its average volume of 7,268,391. 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 business’s 50 day simple moving average is $42.51 and its two-hundred day simple moving average is $46.72. Devon Energy Co. has a 12 month low of $37.76 and a 12 month high of $55.09. The company has a market cap of $26.34 billion, a price-to-earnings ratio of 7.89, a price-to-earnings-growth ratio of 1.22 and a beta of 2.02.

Devon Energy (NYSE:DVN) last released its earnings results on Tuesday, August 6th. The energy company reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.15. The firm had revenue of $3.92 billion for the quarter, compared to analysts’ expectations 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 period in the prior year, the firm posted $1.18 earnings per share. As a group, equities research analysts forecast that Devon Energy Co. will post 5.11 EPS for the current fiscal year.

Devon Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were issued a $0.22 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.88 annualized dividend and a yield of 2.11%. Devon Energy’s dividend payout ratio (DPR) is presently 16.79%.

About Devon Energy

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.