Kestra Private Wealth Services LLC Grows Stock Position in Devon Energy Co. (NYSE:DVN)

Kestra Private Wealth Services LLC grew its holdings in shares of Devon Energy Co. (NYSE:DVN) by 4.0% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 35,583 shares of the energy company’s stock after purchasing an additional 1,367 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in Devon Energy were worth $1,612,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in DVN. SVB Wealth LLC increased its holdings in Devon Energy by 5.6% in the 3rd quarter. SVB Wealth LLC now owns 8,105 shares of the energy company’s stock worth $387,000 after acquiring an additional 430 shares in the last quarter. Stratos Wealth Partners LTD. increased its holdings in Devon Energy by 2.2% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 27,834 shares of the energy company’s stock worth $1,328,000 after acquiring an additional 594 shares in the last quarter. Stratos Wealth Advisors LLC purchased a new stake in Devon Energy in the 3rd quarter worth approximately $477,000. Independent Advisor Alliance increased its holdings in Devon Energy by 51.9% in the 3rd quarter. Independent Advisor Alliance now owns 29,766 shares of the energy company’s stock worth $1,420,000 after acquiring an additional 10,171 shares in the last quarter. Finally, Brown Advisory Inc. increased its holdings in Devon Energy by 77.2% in the 3rd quarter. Brown Advisory Inc. now owns 8,316 shares of the energy company’s stock worth $397,000 after acquiring an additional 3,622 shares in the last quarter. 69.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

DVN has been the subject of several analyst reports. Barclays began coverage on shares of Devon Energy in a report on Wednesday, April 10th. They issued an “equal weight” rating and a $59.00 target price for the company. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $55.00 price objective on shares of Devon Energy in a report on Thursday, March 7th. Susquehanna increased their price objective on shares of Devon Energy from $52.00 to $65.00 and gave the company a “positive” rating in a report on Monday, April 22nd. Mizuho increased their price objective on shares of Devon Energy from $53.00 to $57.00 and gave the company a “buy” rating in a report on Thursday. Finally, UBS Group increased their price objective on shares of Devon Energy from $48.00 to $57.00 and gave the company a “neutral” rating in a report on Wednesday, April 10th. Five equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $58.56.

Devon Energy Stock Down 0.1 %

Shares of DVN opened at $50.34 on Friday. The company has a market cap of $31.97 billion, a PE ratio of 8.63 and a beta of 2.16. The business has a fifty day moving average of $49.36 and a 200 day moving average of $46.27. Devon Energy Co. has a 52-week low of $40.47 and a 52-week high of $55.09. The company has a quick ratio of 0.99, a current ratio of 1.07 and a debt-to-equity ratio of 0.46.

Devon Energy (NYSE:DVN) last issued its quarterly earnings results on Wednesday, May 1st. The energy company reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.06. The company had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.64 billion. Devon Energy had a return on equity of 31.72% and a net margin of 24.56%. Devon Energy’s revenue was down 5.9% on a year-over-year basis. During the same period last year, the company earned $1.46 earnings per share. On average, sell-side analysts expect that Devon Energy Co. will post 5.28 EPS for the current year.

Devon Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be given a dividend of $0.22 per share. The ex-dividend date is Friday, June 14th. This represents a $0.88 annualized dividend and a dividend yield of 1.75%. Devon Energy’s dividend payout ratio (DPR) is 15.09%.

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.