Aspen Wealth Strategies LLC Boosts Stock Position in Devon Energy Co. (NYSE:DVN)

Aspen Wealth Strategies LLC raised its position in shares of Devon Energy Co. (NYSE:DVN) by 13.4% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,626 shares of the energy company’s stock after buying an additional 663 shares during the quarter. Aspen Wealth Strategies LLC’s holdings in Devon Energy were worth $220,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its stake in Devon Energy by 3.5% in the first quarter. Vanguard Group Inc. now owns 76,457,056 shares of the energy company’s stock valued at $3,836,615,000 after acquiring an additional 2,559,039 shares in the last quarter. International Assets Investment Management LLC increased its holdings in shares of Devon Energy by 4,125.7% during the third quarter. International Assets Investment Management LLC now owns 2,280,961 shares of the energy company’s stock valued at $89,231,000 after acquiring an additional 2,226,983 shares in the last quarter. Pacer Advisors Inc. grew its position in Devon Energy by 16.8% during the 2nd quarter. Pacer Advisors Inc. now owns 9,913,516 shares of the energy company’s stock worth $469,901,000 after purchasing an additional 1,428,776 shares during the last quarter. Los Angeles Capital Management LLC increased its stake in Devon Energy by 7,165.6% during the 2nd quarter. Los Angeles Capital Management LLC now owns 1,376,253 shares of the energy company’s stock valued at $65,234,000 after purchasing an additional 1,357,311 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Devon Energy by 16.7% in the second quarter. Dimensional Fund Advisors LP now owns 8,793,217 shares of the energy company’s stock worth $416,779,000 after buying an additional 1,255,543 shares during the last quarter. 69.72% of the stock is owned by hedge funds and other institutional investors.

Devon Energy Trading Up 0.9 %

Devon Energy stock opened at $38.69 on Friday. The stock has a market cap of $24.23 billion, a PE ratio of 7.02, a P/E/G ratio of 1.18 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 stock has a 50-day moving average price of $41.26 and a 200 day moving average price of $45.48. Devon Energy Co. has a 52 week low of $37.76 and a 52 week high of $55.09.

Devon Energy (NYSE:DVN) last posted its quarterly earnings data 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 return on equity of 29.14% and a net margin of 22.60%. The business had revenue of $3.92 billion for the quarter, compared to analysts’ expectations of $3.90 billion. During the same quarter last year, the firm earned $1.18 earnings per share. The business’s revenue was up 13.4% on a year-over-year basis. Equities research analysts predict that Devon Energy Co. will post 4.93 earnings per share for the current fiscal year.

Devon Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date of this dividend was Friday, September 13th. Devon Energy’s dividend payout ratio (DPR) is presently 15.97%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on DVN shares. Susquehanna cut their target price on Devon Energy from $63.00 to $62.00 and set a “positive” rating on the stock in a research report on Friday, October 18th. Mizuho cut their price objective on Devon Energy from $53.00 to $51.00 and set an “outperform” rating on the stock in a report on Wednesday, October 9th. BMO Capital Markets decreased their target price on Devon Energy from $52.00 to $48.00 and set an “outperform” rating for the company in a report on Friday, October 4th. Benchmark reiterated a “hold” rating on shares of Devon Energy in a report on Tuesday, October 15th. Finally, Scotiabank decreased their price objective on shares of Devon Energy from $60.00 to $48.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. 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, Devon Energy has an average rating of “Moderate Buy” and an average target price of $52.53.

About Devon Energy

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.