L. Roy Papp & Associates LLP Buys 419 Shares of Devon Energy Co. (NYSE:DVN)

L. Roy Papp & Associates LLP increased its position in Devon Energy Co. (NYSE:DVN) by 2.8% during the 3rd quarter, Holdings Channel reports. The firm owned 15,571 shares of the energy company’s stock after acquiring an additional 419 shares during the quarter. L. Roy Papp & Associates LLP’s holdings in Devon Energy were worth $609,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. William B. Walkup & Associates Inc. bought a new position in shares of Devon Energy during the 2nd quarter worth $1,026,000. Tradewinds Capital Management LLC purchased a new position in Devon Energy during the 1st quarter valued at about $30,000. Gordian Capital Singapore Pte Ltd bought a new stake in shares of Devon Energy in the 2nd quarter valued at about $711,000. CWM LLC lifted its position in shares of Devon Energy by 73.4% in the 3rd quarter. CWM LLC now owns 38,969 shares of the energy company’s stock worth $1,524,000 after purchasing an additional 16,490 shares during the period. Finally, Ritholtz Wealth Management boosted its stake in shares of Devon Energy by 212.7% during the third quarter. Ritholtz Wealth Management now owns 32,226 shares of the energy company’s stock valued at $1,261,000 after purchasing an additional 21,920 shares in the last quarter. 69.72% of the stock is currently owned by hedge funds and other institutional investors.

Devon Energy Stock Performance

Shares of DVN stock traded down $0.32 during trading hours on Friday, hitting $39.19. The company’s stock had a trading volume of 9,322,139 shares, compared to its average volume of 9,281,782. The stock has a market cap of $24.54 billion, a PE ratio of 7.11, a price-to-earnings-growth ratio of 1.22 and a beta of 2.02. Devon Energy Co. has a 12-month low of $37.76 and a 12-month high of $55.09. The company has a 50 day moving average of $41.62 and a 200 day moving average of $45.80. The company has a current ratio of 1.11, a quick ratio of 1.03 and a debt-to-equity ratio of 0.45.

Devon Energy (NYSE:DVN) last announced its quarterly earnings results on Tuesday, August 6th. The energy company reported $1.41 earnings per share 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 the consensus estimate of $3.90 billion. Devon Energy had a return on equity of 29.14% and a net margin of 22.60%. The firm’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same period last year, the firm earned $1.18 EPS. On average, sell-side analysts forecast that Devon Energy Co. will post 4.98 EPS for the current fiscal year.

Devon Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were given a $0.22 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.88 annualized dividend and a yield of 2.25%. Devon Energy’s dividend payout ratio is presently 15.97%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on DVN shares. Royal Bank of Canada restated a “sector perform” rating and set a $57.00 target price on shares of Devon Energy in a report on Tuesday, September 3rd. Sanford C. Bernstein cut their target price 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. Wolfe Research assumed coverage on shares of Devon Energy in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. Evercore ISI cut their price objective on shares of Devon Energy from $55.00 to $50.00 and set an “in-line” rating on the stock in a research report on Monday, September 30th. Finally, StockNews.com cut shares of Devon Energy from a “buy” rating to a “hold” rating in a research report on Monday, September 2nd. Nine analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $52.53.

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.