Exchange Traded Concepts LLC Makes New $200,000 Investment in Devon Energy Co. (NYSE:DVN)

Exchange Traded Concepts LLC purchased a new position in shares of Devon Energy Co. (NYSE:DVN) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,119 shares of the energy company’s stock, valued at approximately $200,000.

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

Analyst Upgrades and Downgrades

DVN has been the topic of several analyst reports. Barclays reduced their price objective on Devon Energy from $55.00 to $46.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 3rd. Sanford C. Bernstein reduced their price objective on 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. UBS Group reduced their price objective on Devon Energy from $53.00 to $47.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 18th. JPMorgan Chase & Co. reduced their price objective on Devon Energy from $64.00 to $51.00 and set an “overweight” rating on the stock in a research note on Thursday, September 12th. Finally, Mizuho reduced their price objective on Devon Energy from $53.00 to $51.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 9th. Nine analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Devon Energy presently has an average rating of “Moderate Buy” and a consensus target price of $52.53.

Devon Energy Stock Performance

Shares of DVN stock opened at $40.08 on Tuesday. The stock’s 50-day moving average is $42.15 and its two-hundred day moving average is $46.23. The firm has a market cap of $25.33 billion, a price-to-earnings ratio of 7.65, a PEG ratio of 1.27 and a beta of 2.02. Devon Energy Co. has a 1 year low of $37.76 and a 1 year high of $55.09. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.03 and a current ratio of 1.11.

Devon Energy (NYSE:DVN) last issued its quarterly earnings data 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 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 quarterly revenue was up 13.4% compared to the same quarter last year. During the same quarter last year, the company posted $1.18 earnings per share. Analysts predict that Devon Energy Co. will post 5.01 earnings per share for the current year.

Devon Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were paid a dividend of $0.22 per share. The ex-dividend date was Friday, September 13th. This represents a $0.88 annualized dividend and a dividend yield of 2.20%. Devon Energy’s dividend payout ratio (DPR) is 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.