Concord Asset Management LLC VA Purchases 3,281 Shares of Devon Energy Co. (NYSE:DVN)

Concord Asset Management LLC VA increased its position in shares of Devon Energy Co. (NYSE:DVN) by 33.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 13,142 shares of the energy company’s stock after purchasing an additional 3,281 shares during the period. Concord Asset Management LLC VA’s holdings in Devon Energy were worth $430,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in DVN. Capital Performance Advisors LLP purchased a new stake in Devon Energy in the third quarter worth $35,000. Future Financial Wealth Managment LLC purchased a new position in Devon Energy during the 3rd quarter valued at about $39,000. True Wealth Design LLC boosted its stake in shares of Devon Energy by 3,889.3% during the third quarter. True Wealth Design LLC now owns 1,117 shares of the energy company’s stock valued at $44,000 after purchasing an additional 1,089 shares in the last quarter. Hazlett Burt & Watson Inc. lifted its stake in shares of Devon Energy by 29.8% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 1,263 shares of the energy company’s stock worth $49,000 after purchasing an additional 290 shares during the last quarter. Finally, Activest Wealth Management lifted its position in shares of Devon Energy by 60.4% during the third quarter. Activest Wealth Management now owns 1,275 shares of the energy company’s stock valued at $50,000 after buying an additional 480 shares during the last quarter. 69.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

DVN has been the topic of several research reports. Royal Bank of Canada reissued a “sector perform” rating and issued a $50.00 target price on shares of Devon Energy in a research report on Friday, January 10th. Wolfe Research raised shares of Devon Energy from a “peer perform” rating to an “outperform” rating and set a $45.00 target price for the company in a research report on Friday, January 3rd. Susquehanna decreased their price objective on Devon Energy from $63.00 to $62.00 and set a “positive” rating on the stock in a report on Friday, October 18th. BMO Capital Markets reduced their target price on shares of Devon Energy from $52.00 to $48.00 and set an “outperform” rating on the stock in a research note on Friday, October 4th. Finally, Sanford C. Bernstein raised Devon Energy from a “market perform” rating to an “outperform” rating and set a $45.00 price target for the company in a report on Wednesday, January 15th. Nine investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $49.45.

Devon Energy Stock Down 2.7 %

Shares of NYSE:DVN opened at $34.09 on Friday. The company has a market capitalization of $22.39 billion, a PE ratio of 6.32, a price-to-earnings-growth ratio of 1.10 and a beta of 2.00. Devon Energy Co. has a 52-week low of $30.39 and a 52-week high of $55.09. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.11. The company has a fifty day moving average of $34.89 and a 200-day moving average of $39.54.

Devon Energy (NYSE:DVN) last posted its earnings results on Tuesday, November 5th. The energy company reported $1.10 EPS for the quarter, topping the consensus estimate of $1.09 by $0.01. The business had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $3.72 billion. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%. The firm’s revenue was up 4.9% compared to the same quarter last year. During the same period last year, the company earned $1.65 EPS. On average, equities analysts predict that Devon Energy Co. will post 4.68 EPS for the current fiscal year.

Devon Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Friday, December 13th were issued a dividend of $0.22 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.88 annualized dividend and a dividend yield of 2.58%. Devon Energy’s dividend payout ratio is currently 16.33%.

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.