Impact Partnership Wealth LLC Has $979,000 Stock Position in Devon Energy Co. (NYSE:DVN)

Impact Partnership Wealth LLC grew its stake in shares of Devon Energy Co. (NYSE:DVN) by 9.6% in the 3rd quarter, HoldingsChannel reports. The fund owned 25,037 shares of the energy company’s stock after purchasing an additional 2,194 shares during the quarter. Impact Partnership Wealth LLC’s holdings in Devon Energy were worth $979,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Triad Wealth Partners LLC acquired a new stake in Devon Energy during the second quarter worth approximately $27,000. Tradewinds Capital Management LLC acquired a new stake in Devon Energy during the first quarter worth approximately $30,000. 1620 Investment Advisors Inc. acquired a new stake in Devon Energy during the second quarter worth approximately $34,000. PSI Advisors LLC lifted its position in Devon Energy by 66.7% during the second quarter. PSI Advisors LLC now owns 750 shares of the energy company’s stock worth $36,000 after acquiring an additional 300 shares during the last quarter. Finally, LRI Investments LLC acquired a new stake in Devon Energy during the first quarter worth approximately $39,000. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

DVN has been the subject of several research reports. Wolfe Research started 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 dropped their price target on shares of Devon Energy from $55.00 to $50.00 and set an “in-line” rating for the company in a research report on Monday, September 30th. Wells Fargo & Company reiterated a “sector outperform” rating on shares of Devon Energy in a research report on Friday, October 18th. Royal Bank of Canada reissued a “sector perform” rating and issued a $57.00 price objective on shares of Devon Energy in a research note on Tuesday, September 3rd. Finally, Jefferies Financial Group started coverage on shares of Devon Energy in a research note on Thursday, October 3rd. They issued a “hold” rating and a $45.00 price objective on the stock. Nine investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $52.53.

Devon Energy Stock Up 0.3 %

DVN stock traded up $0.13 during trading on Thursday, reaching $39.64. The stock had a trading volume of 244,886 shares, compared to its average volume of 7,308,050. Devon Energy Co. has a one year low of $37.76 and a one year high of $55.09. The company has a quick ratio of 1.03, a current ratio of 1.11 and a debt-to-equity ratio of 0.45. The company’s 50 day moving average is $41.86 and its two-hundred day moving average is $46.01. The company has a market capitalization of $25.05 billion, a price-to-earnings ratio of 7.54, a P/E/G ratio of 1.27 and a beta of 2.02.

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

Devon Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date of this dividend was Friday, September 13th. Devon Energy’s dividend payout ratio is currently 16.79%.

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.