Inspire Investing LLC Has $2.59 Million Holdings in Devon Energy Co. (NYSE:DVN)

Inspire Investing LLC grew its holdings in shares of Devon Energy Co. (NYSE:DVN) by 2.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 66,159 shares of the energy company’s stock after purchasing an additional 1,456 shares during the period. Inspire Investing LLC’s holdings in Devon Energy were worth $2,588,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Ritholtz Wealth Management boosted its position in Devon Energy by 212.7% in the third quarter. Ritholtz Wealth Management now owns 32,226 shares of the energy company’s stock valued at $1,261,000 after buying an additional 21,920 shares in the last quarter. Gateway Investment Advisers LLC raised its stake in Devon Energy by 35.9% during the third quarter. Gateway Investment Advisers LLC now owns 17,350 shares of the energy company’s stock worth $679,000 after buying an additional 4,581 shares during the last quarter. Foundation Resource Management Inc. raised its stake in Devon Energy by 3.8% during the third quarter. Foundation Resource Management Inc. now owns 85,782 shares of the energy company’s stock worth $3,356,000 after buying an additional 3,153 shares during the last quarter. Guild Investment Management Inc. bought a new position in Devon Energy during the third quarter worth $2,545,000. Finally, San Luis Wealth Advisors LLC increased its stake in Devon Energy by 132.4% in the third quarter. San Luis Wealth Advisors LLC now owns 14,195 shares of the energy company’s stock valued at $555,000 after purchasing an additional 8,086 shares in the last quarter. Institutional investors and hedge funds own 69.72% of the company’s stock.

Devon Energy Stock Performance

Shares of DVN stock opened at $42.96 on Friday. The stock has a market capitalization of $26.90 billion, a P/E ratio of 7.80, a PEG ratio of 1.27 and a beta of 2.02. The company has a current ratio of 1.11, a quick ratio of 1.03 and a debt-to-equity ratio of 0.45. The firm’s 50 day moving average is $42.37 and its 200 day moving average is $46.60. Devon Energy Co. has a 12 month low of $37.76 and a 12 month high of $55.09.

Devon Energy (NYSE:DVN) last posted its earnings results on Tuesday, August 6th. The energy company reported $1.41 earnings per share (EPS) for the quarter, topping 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 business had revenue of $3.92 billion for the quarter, compared to analysts’ expectations of $3.90 billion. During the same period in the prior year, the company posted $1.18 EPS. The business’s revenue for the quarter was up 13.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Devon Energy Co. will post 5.01 earnings per share for the current year.

Devon Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were paid a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 2.05%. The ex-dividend date of this dividend was Friday, September 13th. Devon Energy’s dividend payout ratio is presently 15.97%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on DVN shares. Susquehanna dropped their price objective on shares of Devon Energy from $65.00 to $63.00 and set a “positive” rating on the stock in a report on Wednesday, September 4th. Mizuho dropped their price objective on shares of Devon Energy from $53.00 to $51.00 and set an “outperform” rating on the stock in a report on Wednesday. StockNews.com downgraded shares of Devon Energy from a “buy” rating to a “hold” rating in a research report on Monday, September 2nd. BMO Capital Markets decreased their target price on shares of Devon Energy from $52.00 to $48.00 and set an “outperform” rating for the company in a research report on Friday, October 4th. Finally, UBS Group reduced their price objective on shares of Devon Energy from $53.00 to $47.00 and set a “neutral” rating for the company in a research report on Wednesday, September 18th. Eight investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Devon Energy has an average rating of “Moderate Buy” and an average price target of $52.63.

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.