TD Private Client Wealth LLC Purchases 1,617 Shares of Devon Energy Co. (NYSE:DVN)

TD Private Client Wealth LLC boosted its position in Devon Energy Co. (NYSE:DVN) by 87.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,465 shares of the energy company’s stock after purchasing an additional 1,617 shares during the period. TD Private Client Wealth LLC’s holdings in Devon Energy were worth $113,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Legacy Investment Solutions LLC bought a new stake in shares of Devon Energy during the 3rd quarter worth approximately $8,002,000. Bridgewater Associates LP purchased a new stake in Devon Energy in the third quarter worth $9,426,000. Petrus Trust Company LTA lifted its position in shares of Devon Energy by 394.7% during the third quarter. Petrus Trust Company LTA now owns 21,827 shares of the energy company’s stock worth $854,000 after purchasing an additional 17,415 shares during the last quarter. Klein Pavlis & Peasley Financial Inc. purchased a new stake in shares of Devon Energy during the fourth quarter valued at $782,000. Finally, Fortem Financial Group LLC bought a new position in shares of Devon Energy in the third quarter worth about $583,000. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Devon Energy Price Performance

Devon Energy stock opened at $36.96 on Wednesday. Devon Energy Co. has a 1-year low of $30.39 and a 1-year high of $55.09. The business has a fifty day moving average price of $35.46 and a 200-day moving average price of $36.92. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 1.01. The stock has a market capitalization of $23.99 billion, a price-to-earnings ratio of 8.11, a PEG ratio of 1.20 and a beta of 1.91.

Devon Energy (NYSE:DVN) last issued its quarterly earnings results on Tuesday, February 18th. The energy company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.16. Devon Energy had a return on equity of 22.52% and a net margin of 18.14%. The business had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.25 billion. Equities research analysts forecast that Devon Energy Co. will post 4.85 EPS for the current fiscal year.

Devon Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a dividend of $0.24 per share. This is a positive change from Devon Energy’s previous quarterly dividend of $0.22. The ex-dividend date is Friday, March 14th. This represents a $0.96 dividend on an annualized basis and a yield of 2.60%. Devon Energy’s dividend payout ratio is presently 21.05%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on DVN shares. Sanford C. Bernstein upgraded shares of Devon Energy from a “market perform” rating to an “outperform” rating and set a $45.00 price objective for the company in a report on Wednesday, January 15th. Cowen downgraded shares of Devon Energy to a “hold” rating and decreased their price target for the company from $46.00 to $45.00 in a research note on Tuesday, February 18th. Mizuho dropped their price objective on Devon Energy from $51.00 to $47.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. Benchmark reaffirmed a “buy” rating and set a $44.00 target price on shares of Devon Energy in a research report on Thursday, February 20th. Finally, Susquehanna increased their price target on Devon Energy from $50.00 to $52.00 and gave the stock a “positive” rating in a research report on Thursday, February 20th. Ten investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $48.46.

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.