Sugarloaf Wealth Management LLC Acquires 9,648 Shares of Devon Energy Co. (NYSE:DVN)

Sugarloaf Wealth Management LLC increased its stake in Devon Energy Co. (NYSE:DVN) by 159.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 15,717 shares of the energy company’s stock after purchasing an additional 9,648 shares during the quarter. Sugarloaf Wealth Management LLC’s holdings in Devon Energy were worth $514,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of DVN. Capital Performance Advisors LLP bought a new position in shares of Devon Energy in the third quarter worth about $35,000. Future Financial Wealth Managment LLC purchased a new position in Devon Energy during the third quarter valued at approximately $39,000. True Wealth Design LLC boosted its position in shares of Devon Energy by 3,889.3% in the third quarter. True Wealth Design LLC now owns 1,117 shares of the energy company’s stock worth $44,000 after purchasing an additional 1,089 shares during the period. Hazlett Burt & Watson Inc. increased its stake in shares of Devon Energy by 29.8% in the third quarter. Hazlett Burt & Watson Inc. now owns 1,263 shares of the energy company’s stock worth $49,000 after purchasing an additional 290 shares in the last quarter. Finally, Activest Wealth Management raised its position in shares of Devon Energy by 60.4% during the 3rd quarter. Activest Wealth Management now owns 1,275 shares of the energy company’s stock valued at $50,000 after purchasing an additional 480 shares during the period. 69.72% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on DVN shares. Morgan Stanley cut their price target on Devon Energy from $55.00 to $51.00 and set an “overweight” rating for the company in a research note on Monday, September 16th. Mizuho cut their target price on Devon Energy from $51.00 to $47.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. Barclays dropped their price target on Devon Energy from $55.00 to $46.00 and set an “equal weight” rating for the company in a research note on Thursday, October 3rd. UBS Group reduced their price objective on shares of Devon Energy from $53.00 to $47.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 18th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $50.00 target price on shares of Devon Energy in a research note on Friday. Eleven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $49.48.

Devon Energy Trading Up 2.7 %

DVN stock traded up $0.95 during mid-day trading on Friday, reaching $36.10. 9,122,171 shares of the stock traded hands, compared to its average volume of 10,397,098. Devon Energy Co. has a one year low of $30.39 and a one year high of $55.09. The stock has a market capitalization of $23.71 billion, a PE ratio of 6.70, a PEG ratio of 1.10 and a beta of 2.00. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.11. The business has a 50-day moving average price of $35.67 and a two-hundred day moving average price of $40.73.

Devon Energy (NYSE:DVN) last posted its quarterly earnings data on Tuesday, November 5th. The energy company reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $1.09 by $0.01. The company had revenue of $4.02 billion for the quarter, compared to analyst estimates of $3.72 billion. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.65 EPS. Equities research analysts expect that Devon Energy Co. will post 4.79 EPS for the current year.

Devon Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Friday, December 13th were paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.44%. The ex-dividend date of this dividend was Friday, December 13th. Devon Energy’s dividend payout ratio is currently 16.33%.

Devon Energy Company 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.