Brookstone Capital Management Has $219,000 Position in Devon Energy Co. (NYSE:DVN)

Brookstone Capital Management decreased its holdings in shares of Devon Energy Co. (NYSE:DVN) by 36.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,685 shares of the energy company’s stock after selling 3,773 shares during the period. Brookstone Capital Management’s holdings in Devon Energy were worth $219,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in DVN. Envestnet Asset Management Inc. grew its holdings in Devon Energy by 0.5% during the second quarter. Envestnet Asset Management Inc. now owns 315,446 shares of the energy company’s stock worth $14,952,000 after buying an additional 1,591 shares in the last quarter. Edgestream Partners L.P. purchased a new position in Devon Energy during the 2nd quarter worth $342,000. Mercer Global Advisors Inc. ADV grew its stake in shares of Devon Energy by 2.3% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 104,754 shares of the energy company’s stock worth $4,958,000 after acquiring an additional 2,384 shares in the last quarter. Blair William & Co. IL raised its holdings in shares of Devon Energy by 2.0% in the second quarter. Blair William & Co. IL now owns 120,419 shares of the energy company’s stock valued at $5,708,000 after purchasing an additional 2,365 shares during the last quarter. Finally, Intech Investment Management LLC lifted its position in shares of Devon Energy by 449.1% during the second quarter. Intech Investment Management LLC now owns 22,398 shares of the energy company’s stock valued at $1,062,000 after purchasing an additional 18,319 shares in the last quarter. 69.72% of the stock is owned by institutional investors.

Devon Energy Trading Down 1.2 %

Shares of DVN opened at $37.98 on Monday. Devon Energy Co. has a twelve month low of $30.39 and a twelve month high of $55.09. The stock has a market cap of $24.95 billion, a PE ratio of 7.05, a P/E/G ratio of 1.14 and a beta of 2.00. The company has a quick ratio of 1.01, a current ratio of 1.11 and a debt-to-equity ratio of 0.61. The business’s 50-day moving average price is $35.48 and its 200-day moving average price is $40.21.

Devon Energy (NYSE:DVN) last posted its earnings results on Tuesday, November 5th. The energy company reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $1.09 by $0.01. The business had revenue of $4.02 billion for the quarter, compared to analyst estimates of $3.72 billion. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%. Devon Energy’s revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.65 EPS. On average, equities analysts forecast that Devon Energy Co. will post 4.72 EPS for the current fiscal year.

Devon Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Friday, December 13th were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.32%. The ex-dividend date of this dividend was Friday, December 13th. Devon Energy’s dividend payout ratio (DPR) is currently 16.33%.

Analyst Ratings Changes

Several equities research analysts have commented on DVN shares. Susquehanna decreased their price objective on shares of Devon Energy from $63.00 to $62.00 and set a “positive” rating for the company in a research note on Friday, October 18th. Scotiabank decreased their price target on Devon Energy from $60.00 to $48.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. TD Cowen cut their price objective on Devon Energy from $54.00 to $46.00 and set a “hold” rating on the stock in a research report on Tuesday, November 5th. Citigroup decreased their target price on Devon Energy from $55.00 to $48.00 and set a “buy” rating for the company in a research report on Tuesday, November 26th. Finally, Raymond James cut their price target on shares of Devon Energy from $58.00 to $51.00 in a report on Tuesday, November 5th. Nine analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, Devon Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $49.27.

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.