Devon Energy Co. (NYSE:DVN) Shares Acquired by Keene & Associates Inc.

Keene & Associates Inc. lifted its holdings in shares of Devon Energy Co. (NYSE:DVN) by 1.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 73,264 shares of the energy company’s stock after acquiring an additional 1,163 shares during the period. Devon Energy accounts for about 2.2% of Keene & Associates Inc.’s holdings, making the stock its 26th biggest position. Keene & Associates Inc.’s holdings in Devon Energy were worth $2,866,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the business. Retirement Group LLC grew its position in Devon Energy by 21.8% during the 1st quarter. Retirement Group LLC now owns 1,110 shares of the energy company’s stock worth $56,000 after purchasing an additional 199 shares during the last quarter. Whittier Trust Co. of Nevada Inc. increased its position in Devon Energy by 7.4% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 3,046 shares of the energy company’s stock valued at $153,000 after acquiring an additional 209 shares during the period. MCF Advisors LLC raised its stake in Devon Energy by 5.6% during the 1st quarter. MCF Advisors LLC now owns 4,023 shares of the energy company’s stock valued at $202,000 after acquiring an additional 215 shares during the last quarter. Annex Advisory Services LLC raised its stake in Devon Energy by 0.8% during the 2nd quarter. Annex Advisory Services LLC now owns 27,651 shares of the energy company’s stock valued at $1,311,000 after acquiring an additional 223 shares during the last quarter. Finally, Versant Capital Management Inc grew its stake in shares of Devon Energy by 30.4% in the 2nd quarter. Versant Capital Management Inc now owns 970 shares of the energy company’s stock valued at $46,000 after purchasing an additional 226 shares during the last quarter. 69.72% of the stock is owned by institutional investors and hedge funds.

Devon Energy Trading Down 1.6 %

Shares of DVN stock opened at $39.51 on Thursday. The firm’s 50-day simple moving average is $41.86 and its 200-day simple moving average is $46.01. 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 Co. has a 1-year low of $37.76 and a 1-year high of $55.09. The firm has a market cap of $24.97 billion, a P/E ratio of 7.54, a PEG ratio of 1.27 and a beta of 2.02.

Devon Energy (NYSE:DVN) last issued its quarterly earnings results on Tuesday, August 6th. The energy company reported $1.41 EPS for the quarter, topping the consensus estimate of $1.26 by $0.15. The firm had revenue of $3.92 billion during the quarter, compared to analyst estimates of $3.90 billion. Devon Energy had a net margin of 22.60% and a return on equity of 29.14%. Devon Energy’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.18 earnings per share. As a group, equities analysts forecast that Devon Energy Co. will post 5.01 EPS for the current year.

Devon Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.23%. The ex-dividend date of this dividend was Friday, September 13th. Devon Energy’s dividend payout ratio (DPR) is currently 16.79%.

Wall Street Analyst Weigh In

DVN has been the topic of a number of recent analyst reports. Mizuho dropped their price target on shares of Devon Energy from $53.00 to $51.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 9th. Susquehanna dropped their price target on Devon Energy from $63.00 to $62.00 and set a “positive” rating for the company in a research report on Friday, October 18th. Benchmark reaffirmed a “hold” rating on shares of Devon Energy in a research note on Tuesday, October 15th. JPMorgan Chase & Co. lowered their price objective on shares of 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, Sanford C. Bernstein cut their target price on shares of Devon Energy from $48.00 to $43.00 and set a “market perform” rating for the company in a research report on Wednesday, July 17th. Nine analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $52.53.

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.