Trajan Wealth LLC Has $228,000 Holdings in Devon Energy Co. (NYSE:DVN)

Trajan Wealth LLC raised its stake in Devon Energy Co. (NYSE:DVN) by 16.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,839 shares of the energy company’s stock after buying an additional 831 shares during the quarter. Trajan Wealth LLC’s holdings in Devon Energy were worth $228,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in DVN. Triad Wealth Partners LLC bought a new stake in shares of Devon Energy in the 2nd quarter valued at about $27,000. 1620 Investment Advisors Inc. acquired a new position in shares of Devon Energy in the second quarter valued at approximately $34,000. PSI Advisors LLC increased its holdings in Devon Energy by 66.7% during the 2nd quarter. PSI Advisors LLC now owns 750 shares of the energy company’s stock worth $36,000 after purchasing an additional 300 shares in the last quarter. LRI Investments LLC acquired a new stake in shares of Devon Energy in the 1st quarter valued at about $39,000. Finally, Future Financial Wealth Managment LLC bought a new stake in shares of Devon Energy in the third quarter valued at about $39,000. Institutional investors and hedge funds own 69.72% of the company’s stock.

Devon Energy Stock Up 0.5 %

NYSE DVN opened at $38.34 on Thursday. The company has a 50 day moving average of $41.26 and a 200-day moving average of $45.48. Devon Energy Co. has a 1-year low of $37.76 and a 1-year high of $55.09. The company has a current ratio of 1.11, a quick ratio of 1.03 and a debt-to-equity ratio of 0.45. The company has a market cap of $24.01 billion, a price-to-earnings ratio of 6.96, a PEG ratio of 1.22 and a beta of 2.02.

Devon Energy (NYSE:DVN) last released its earnings results on Tuesday, August 6th. The energy company reported $1.41 earnings per share (EPS) 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 analyst estimates of $3.90 billion. Devon Energy had a return on equity of 29.14% and a net margin of 22.60%. Devon Energy’s quarterly revenue was up 13.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.18 EPS. On average, equities research analysts expect that Devon Energy Co. will post 4.98 earnings per share for the current fiscal year.

Devon Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date of this dividend was Friday, September 13th. Devon Energy’s dividend payout ratio is presently 15.97%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on DVN. Morgan Stanley dropped their target price on Devon Energy from $55.00 to $51.00 and set an “overweight” rating on the stock in a research report on Monday, September 16th. Scotiabank lowered their target price on Devon Energy from $60.00 to $48.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Benchmark reaffirmed a “hold” rating on shares of Devon Energy in a research report on Tuesday, October 15th. JPMorgan Chase & Co. reduced their price target on Devon Energy from $64.00 to $51.00 and set an “overweight” rating for the company in a report on Thursday, September 12th. Finally, StockNews.com downgraded Devon Energy from a “buy” rating to a “hold” rating in a research report on Monday, September 2nd. Nine equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price 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.