Private Wealth Partners LLC Has $393,000 Position in Devon Energy Co. (NYSE:DVN)

Private Wealth Partners LLC increased its holdings in shares of Devon Energy Co. (NYSE:DVN) by 62.9% during the fourth quarter, Holdings Channel reports. The fund owned 8,672 shares of the energy company’s stock after acquiring an additional 3,350 shares during the quarter. Private Wealth Partners LLC’s holdings in Devon Energy were worth $393,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Avior Wealth Management LLC grew its holdings in Devon Energy by 4.9% in the 3rd quarter. Avior Wealth Management LLC now owns 4,406 shares of the energy company’s stock valued at $210,000 after buying an additional 207 shares in the last quarter. Private Trust Co. NA grew its holdings in Devon Energy by 1.6% in the 3rd quarter. Private Trust Co. NA now owns 18,020 shares of the energy company’s stock valued at $860,000 after buying an additional 291 shares in the last quarter. Caprock Group LLC grew its holdings in Devon Energy by 41.0% in the 3rd quarter. Caprock Group LLC now owns 14,325 shares of the energy company’s stock valued at $683,000 after buying an additional 4,162 shares in the last quarter. Galvin Gaustad & Stein LLC grew its holdings in Devon Energy by 8.5% in the 3rd quarter. Galvin Gaustad & Stein LLC now owns 6,414 shares of the energy company’s stock valued at $306,000 after buying an additional 504 shares in the last quarter. Finally, Czech National Bank grew its holdings in Devon Energy by 47.4% in the 3rd quarter. Czech National Bank now owns 111,982 shares of the energy company’s stock valued at $5,342,000 after buying an additional 36,002 shares in the last quarter. 69.72% of the stock is owned by institutional investors and hedge funds.

Devon Energy Price Performance

Shares of DVN stock traded up $0.10 on Friday, hitting $52.71. 4,618,432 shares of the company’s stock were exchanged, compared to its average volume of 6,726,952. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.07 and a quick ratio of 0.99. Devon Energy Co. has a 12 month low of $40.47 and a 12 month high of $55.09. The stock has a market cap of $33.47 billion, a P/E ratio of 9.04 and a beta of 2.19. The company has a 50 day moving average of $48.88 and a 200 day moving average of $46.18.

Devon Energy (NYSE:DVN) last announced its quarterly earnings data on Tuesday, February 27th. The energy company reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.02. The business had revenue of $4.15 billion during the quarter, compared to the consensus estimate of $3.88 billion. Devon Energy had a return on equity of 31.72% and a net margin of 24.56%. Devon Energy’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same period in the prior year, the company earned $1.66 EPS. On average, equities research analysts predict that Devon Energy Co. will post 5.28 EPS for the current year.

Devon Energy Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were given a $0.44 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.76 annualized dividend and a yield of 3.34%. Devon Energy’s dividend payout ratio is presently 15.09%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Citigroup upped their price objective on Devon Energy from $55.00 to $62.00 and gave the company a “buy” rating in a report on Thursday, April 11th. Wells Fargo & Company raised Devon Energy from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $46.00 to $59.00 in a report on Monday, April 1st. Morgan Stanley upped their price objective on Devon Energy from $49.00 to $50.00 and gave the company an “overweight” rating in a report on Monday, April 15th. Stifel Nicolaus increased their target price on Devon Energy from $65.00 to $66.00 and gave the stock a “buy” rating in a report on Tuesday, April 23rd. Finally, Barclays started coverage on Devon Energy in a report on Wednesday, April 10th. They set an “equal weight” rating and a $59.00 target price on the stock. Five analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $58.33.

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.