Bank of Stockton Takes Position in Devon Energy Co. (NYSE:DVN)

Bank of Stockton acquired a new position in shares of Devon Energy Co. (NYSE:DVN) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,118 shares of the energy company’s stock, valued at approximately $200,000.

Other large investors have also recently made changes to their positions in the company. Mediolanum International Funds Ltd raised its stake in shares of Devon Energy by 55.3% during the 3rd quarter. Mediolanum International Funds Ltd now owns 156,490 shares of the energy company’s stock worth $6,087,000 after purchasing an additional 55,704 shares during the period. Canal Capital Management LLC raised its stake in shares of Devon Energy by 9.4% in the third quarter. Canal Capital Management LLC now owns 145,918 shares of the energy company’s stock valued at $5,708,000 after buying an additional 12,579 shares during the period. West Michigan Advisors LLC lifted its position in shares of Devon Energy by 1.1% during the 3rd quarter. West Michigan Advisors LLC now owns 62,019 shares of the energy company’s stock valued at $2,426,000 after buying an additional 660 shares during the last quarter. Mraz Amerine & Associates Inc. grew its stake in shares of Devon Energy by 17.4% during the 3rd quarter. Mraz Amerine & Associates Inc. now owns 30,989 shares of the energy company’s stock worth $1,212,000 after acquiring an additional 4,601 shares during the period. Finally, Bogart Wealth LLC lifted its holdings in Devon Energy by 15.6% during the third quarter. Bogart Wealth LLC now owns 3,706 shares of the energy company’s stock valued at $145,000 after purchasing an additional 500 shares during the last quarter. 69.72% of the stock is owned by institutional investors.

Devon Energy Stock Up 0.7 %

DVN stock traded up $0.27 during midday trading on Friday, hitting $39.78. The stock had a trading volume of 967,942 shares, compared to its average volume of 7,296,639. Devon Energy Co. has a 52-week low of $37.76 and a 52-week high of $55.09. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.11 and a quick ratio of 1.03. The business has a 50-day moving average of $41.74 and a two-hundred day moving average of $45.96. The firm has a market cap of $25.14 billion, a price-to-earnings ratio of 7.54, a price-to-earnings-growth ratio of 1.27 and a beta of 2.02.

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

Devon Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date of this dividend was Friday, September 13th. Devon Energy’s payout ratio is 16.79%.

Analyst Ratings Changes

A number of research firms have recently commented on DVN. Wolfe Research started coverage on Devon Energy in a report on Thursday, July 18th. They issued a “peer perform” rating for the company. Susquehanna cut their price target on shares of Devon Energy from $63.00 to $62.00 and set a “positive” rating for the company in a research note on Friday, October 18th. Jefferies Financial Group started coverage on shares of Devon Energy in a research report on Thursday, October 3rd. They set a “hold” rating and a $45.00 price objective on the stock. Barclays lowered their price target on Devon Energy from $55.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 3rd. Finally, StockNews.com cut Devon Energy from a “buy” rating to a “hold” rating in a report on Monday, September 2nd. Nine research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $52.53.

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.