Integrated Wealth Concepts LLC Buys 7,087 Shares of Devon Energy Co. (NYSE:DVN)

Integrated Wealth Concepts LLC increased its stake in Devon Energy Co. (NYSE:DVN) by 29.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,881 shares of the energy company’s stock after purchasing an additional 7,087 shares during the period. Integrated Wealth Concepts LLC’s holdings in Devon Energy were worth $1,208,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Park Avenue Securities LLC raised its position in shares of Devon Energy by 3.9% during the second quarter. Park Avenue Securities LLC now owns 12,351 shares of the energy company’s stock worth $585,000 after acquiring an additional 467 shares during the last quarter. Czech National Bank boosted its holdings in Devon Energy by 6.8% in the second quarter. Czech National Bank now owns 120,434 shares of the energy company’s stock valued at $5,709,000 after acquiring an additional 7,703 shares during the last quarter. Dynamic Advisor Solutions LLC increased its position in Devon Energy by 5.3% in the second quarter. Dynamic Advisor Solutions LLC now owns 21,899 shares of the energy company’s stock worth $1,038,000 after purchasing an additional 1,095 shares during the period. Sequoia Financial Advisors LLC raised its holdings in Devon Energy by 1.0% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 34,147 shares of the energy company’s stock worth $1,619,000 after purchasing an additional 338 shares during the last quarter. Finally, Wedmont Private Capital lifted its position in Devon Energy by 29.2% during the 2nd quarter. Wedmont Private Capital now owns 10,200 shares of the energy company’s stock valued at $474,000 after purchasing an additional 2,303 shares during the period. Institutional investors and hedge funds own 69.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on DVN. Barclays lowered their price target on shares of Devon Energy from $55.00 to $46.00 and set an “equal weight” rating for the company in a research report on Thursday, October 3rd. Evercore ISI lowered their target price on shares of Devon Energy from $55.00 to $50.00 and set an “in-line” rating for the company in a report on Monday, September 30th. Wells Fargo & Company cut their price target on Devon Energy from $50.00 to $49.00 and set an “overweight” rating on the stock in a research note on Thursday, November 7th. Susquehanna decreased their price objective on Devon Energy from $63.00 to $62.00 and set a “positive” rating for the company in a research note on Friday, October 18th. Finally, Scotiabank reduced their target price on Devon Energy from $60.00 to $48.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, Devon Energy has a consensus rating of “Hold” and a consensus target price of $50.75.

Devon Energy Stock Down 2.7 %

DVN stock opened at $34.99 on Monday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.11 and a quick ratio of 1.01. The stock has a market capitalization of $22.98 billion, a P/E ratio of 6.49, a P/E/G ratio of 1.15 and a beta of 1.99. Devon Energy Co. has a fifty-two week low of $34.76 and a fifty-two week high of $55.09. The business has a 50-day moving average of $39.36 and a 200-day moving average of $43.02.

Devon Energy (NYSE:DVN) last issued its quarterly earnings results on Tuesday, November 5th. The energy company reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.01. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%. The firm had revenue of $4.02 billion for the quarter, compared to analyst estimates of $3.72 billion. During the same period in the previous year, the business earned $1.65 EPS. The company’s revenue was up 4.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Devon Energy Co. will post 4.79 earnings per share for the current fiscal year.

Devon Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date is Friday, December 13th. Devon Energy’s dividend payout ratio is currently 16.33%.

Devon Energy 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.