Sage Capital Advisors llc Has $235,000 Stake in Devon Energy Co. (NYSE:DVN)

Sage Capital Advisors llc grew its position in shares of Devon Energy Co. (NYSE:DVN) by 9.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,999 shares of the energy company’s stock after buying an additional 495 shares during the quarter. Sage Capital Advisors llc’s holdings in Devon Energy were worth $235,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Triad Wealth Partners LLC acquired a new stake in Devon Energy in the 2nd quarter worth approximately $27,000. Tradewinds Capital Management LLC acquired a new stake in Devon Energy in the 1st quarter worth approximately $30,000. 1620 Investment Advisors Inc. acquired a new stake in Devon Energy in the 2nd quarter worth approximately $34,000. PSI Advisors LLC lifted its holdings in Devon Energy by 66.7% in the 2nd quarter. PSI Advisors LLC now owns 750 shares of the energy company’s stock worth $36,000 after purchasing an additional 300 shares during the last quarter. Finally, LRI Investments LLC acquired a new stake in Devon Energy in the 1st quarter worth approximately $39,000. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Devon Energy Stock Performance

Shares of NYSE:DVN opened at $41.67 on Wednesday. The business’s fifty day moving average price is $42.51 and its two-hundred day moving average price is $46.72. Devon Energy Co. has a fifty-two week low of $37.76 and a fifty-two week high of $55.09. The stock has a market capitalization of $26.34 billion, a price-to-earnings ratio of 7.95, a price-to-earnings-growth ratio of 1.22 and a beta of 2.02. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.11 and a quick ratio of 1.03.

Devon Energy (NYSE:DVN) last posted its quarterly earnings data 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 company 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 business’s revenue was up 13.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.18 earnings per share. As a group, analysts predict that Devon Energy Co. will post 5.11 EPS for the current fiscal year.

Devon Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date of this dividend was Friday, September 13th. Devon Energy’s dividend payout ratio is currently 16.79%.

Wall Street Analyst Weigh In

DVN has been the subject of a number of research analyst reports. Jefferies Financial Group initiated coverage on Devon Energy in a report on Thursday, October 3rd. They set a “hold” rating and a $45.00 price target for the company. Royal Bank of Canada reiterated a “sector perform” rating and set a $57.00 price target on shares of Devon Energy in a report on Tuesday, September 3rd. Bank of America reiterated a “buy” rating and set a $64.00 price target on shares of Devon Energy in a report on Friday, June 14th. Susquehanna cut their price target on Devon Energy from $65.00 to $63.00 and set a “positive” rating for the company in a report on Wednesday, September 4th. Finally, BMO Capital Markets cut their price target on Devon Energy from $52.00 to $48.00 and set an “outperform” rating for the company in a report on Friday, October 4th. Eight analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.79.

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.