M Holdings Securities Inc. increased its holdings in shares of Devon Energy Corp (NYSE:DVN) by 41.6% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 9,762 shares of the energy company’s stock after acquiring an additional 2,869 shares during the quarter. M Holdings Securities Inc.’s holdings in Devon Energy were worth $390,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. Atlas Capital Advisors LLC bought a new stake in shares of Devon Energy during the third quarter worth approximately $119,000. SNS Financial Group LLC acquired a new stake in shares of Devon Energy in the second quarter valued at approximately $201,000. HM Payson & Co. acquired a new stake in shares of Devon Energy in the second quarter valued at approximately $203,000. Round Table Services LLC acquired a new stake in shares of Devon Energy in the third quarter valued at approximately $205,000. Finally, IFP Advisors Inc raised its position in shares of Devon Energy by 60.9% in the third quarter. IFP Advisors Inc now owns 5,262 shares of the energy company’s stock valued at $210,000 after buying an additional 1,992 shares in the last quarter. 82.97% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts have recently weighed in on the stock. Piper Jaffray Companies upgraded shares of Devon Energy from a “neutral” rating to an “overweight” rating in a research report on Thursday, September 27th. Barclays dropped their price target on shares of Devon Energy from $43.00 to $42.00 and set a “buy” rating for the company in a research report on Thursday, November 15th. TheStreet downgraded shares of Devon Energy from a “c-” rating to a “d+” rating in a research report on Friday, November 2nd. Capital One Financial upgraded shares of Devon Energy from an “equal weight” rating to an “overweight” rating in a research report on Wednesday, October 24th. They noted that the move was a valuation call. Finally, Royal Bank of Canada dropped their price target on shares of Devon Energy from $58.00 to $56.00 and set a “buy” rating for the company in a research report on Thursday, November 8th. Eleven research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. Devon Energy currently has an average rating of “Buy” and an average target price of $47.22.
Devon Energy (NYSE:DVN) last announced its quarterly earnings data on Tuesday, November 6th. The energy company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.42 by $0.21. Devon Energy had a net margin of 16.62% and a return on equity of 6.40%. The business had revenue of $2.58 billion during the quarter, compared to the consensus estimate of $2.61 billion. During the same period in the previous year, the business earned $0.46 earnings per share. The company’s revenue was up 33.4% on a year-over-year basis. On average, sell-side analysts anticipate that Devon Energy Corp will post 1.57 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Friday, March 15th will be given a dividend of $0.08 per share. The ex-dividend date is Thursday, March 14th. This represents a $0.32 annualized dividend and a yield of 1.31%. Devon Energy’s dividend payout ratio is currently 50.79%.
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Devon Energy Company Profile
Devon Energy Corporation, an independent energy company, primarily engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States and Canada. It operates approximately 14,600 gross wells. The company also offers gathering, transmission, processing, storage, fractionation, and marketing to upstream oil and natural gas producers; and owns natural gas pipelines, plants and treatment facilities.
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