Arkadios Wealth Advisors Has $1.88 Million Stock Position in Devon Energy Co. (NYSE:DVN)

Arkadios Wealth Advisors boosted its holdings in Devon Energy Co. (NYSE:DVN) by 31.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 48,024 shares of the energy company’s stock after buying an additional 11,596 shares during the period. Arkadios Wealth Advisors’ holdings in Devon Energy were worth $1,879,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. raised its stake in Devon Energy by 19.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 61,970 shares of the energy company’s stock valued at $2,414,000 after purchasing an additional 10,141 shares during the last quarter. Allworth Financial LP increased its holdings in shares of Devon Energy by 8.7% during the 3rd quarter. Allworth Financial LP now owns 6,079 shares of the energy company’s stock worth $238,000 after purchasing an additional 484 shares during the period. Bank of Stockton acquired a new position in shares of Devon Energy during the third quarter valued at about $200,000. Mediolanum International Funds Ltd lifted its stake in shares of Devon Energy by 55.3% in the third quarter. Mediolanum International Funds Ltd now owns 156,490 shares of the energy company’s stock valued at $6,087,000 after buying an additional 55,704 shares during the period. Finally, Canal Capital Management LLC grew its position in Devon Energy by 9.4% during the third quarter. Canal Capital Management LLC now owns 145,918 shares of the energy company’s stock worth $5,708,000 after buying an additional 12,579 shares in the last quarter. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have commented on DVN shares. Sanford C. Bernstein reduced their price objective on Devon Energy from $48.00 to $43.00 and set a “market perform” rating for the company in a research report on Wednesday, July 17th. Wolfe Research initiated coverage on shares of Devon Energy in a research note on Thursday, July 18th. They set a “peer perform” rating on the stock. Barclays dropped their price objective on shares of 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. Scotiabank decreased their target price on shares of 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. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $57.00 price target on shares of Devon Energy in a research report on Tuesday, September 3rd. Nine equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $52.53.

Devon Energy Stock Performance

Shares of NYSE:DVN opened at $39.19 on Friday. The business has a fifty day moving average of $41.62 and a 200-day moving average of $45.80. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.03 and a current ratio of 1.11. Devon Energy Co. has a twelve month low of $37.76 and a twelve month high of $55.09. The firm 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 (NYSE:DVN) last posted its quarterly earnings data on Tuesday, August 6th. The energy company reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.15. Devon Energy had a net margin of 22.60% and a return on equity of 29.14%. The firm had revenue of $3.92 billion during the quarter, compared to analysts’ expectations of $3.90 billion. During the same quarter last year, the company posted $1.18 EPS. The company’s quarterly revenue was up 13.4% compared to the same quarter last year. On average, equities research analysts predict that Devon Energy Co. will post 4.98 EPS for the current fiscal year.

Devon Energy Announces Dividend

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

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.