RPG Investment Advisory LLC Has $9.98 Million Holdings in Devon Energy Co. (NYSE:DVN)

RPG Investment Advisory LLC grew its holdings in shares of Devon Energy Co. (NYSE:DVN) by 3.6% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 255,079 shares of the energy company’s stock after purchasing an additional 8,777 shares during the period. Devon Energy comprises approximately 1.4% of RPG Investment Advisory LLC’s holdings, making the stock its 29th largest holding. RPG Investment Advisory LLC’s holdings in Devon Energy were worth $9,979,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Annex Advisory Services LLC lifted its position in Devon Energy by 0.8% during the 2nd quarter. Annex Advisory Services LLC now owns 27,651 shares of the energy company’s stock worth $1,311,000 after buying an additional 223 shares in the last quarter. Versant Capital Management Inc raised its holdings in shares of Devon Energy by 30.4% in the 2nd quarter. Versant Capital Management Inc now owns 970 shares of the energy company’s stock valued at $46,000 after purchasing an additional 226 shares during the period. Archer Investment Corp raised its holdings in shares of Devon Energy by 2.8% in the 2nd quarter. Archer Investment Corp now owns 8,535 shares of the energy company’s stock valued at $405,000 after purchasing an additional 235 shares during the period. Citizens Financial Group Inc. RI raised its holdings in shares of Devon Energy by 2.6% in the 1st quarter. Citizens Financial Group Inc. RI now owns 9,480 shares of the energy company’s stock valued at $476,000 after purchasing an additional 236 shares during the period. Finally, Institute for Wealth Management LLC. raised its holdings in shares of Devon Energy by 4.0% in the 2nd quarter. Institute for Wealth Management LLC. now owns 6,234 shares of the energy company’s stock valued at $296,000 after purchasing an additional 237 shares during the period. 69.72% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on DVN shares. Jefferies Financial Group started coverage on shares of Devon Energy in a report on Thursday, October 3rd. They issued a “hold” rating and a $45.00 target price on the stock. UBS Group decreased their price target on shares of Devon Energy from $53.00 to $47.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 18th. Evercore ISI decreased their price target on shares of Devon Energy from $55.00 to $50.00 and set an “in-line” rating on the stock in a research note on Monday, September 30th. Wells Fargo & Company decreased their target price on shares of Devon Energy from $50.00 to $49.00 and set an “overweight” rating on the stock in a research report on Thursday, November 7th. Finally, Raymond James decreased their target price on shares of Devon Energy from $58.00 to $51.00 in a research report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $51.80.

Devon Energy Price Performance

Shares of NYSE DVN opened at $38.33 on Wednesday. Devon Energy Co. has a twelve month low of $37.76 and a twelve month high of $55.09. The firm has a fifty day simple moving average of $40.27 and a 200 day simple moving average of $44.59. The company has a market capitalization of $25.18 billion, a PE ratio of 7.11, a P/E/G ratio of 1.21 and a beta of 2.03. The company has a quick ratio of 1.01, a current ratio of 1.11 and a debt-to-equity ratio of 0.61.

Devon Energy (NYSE:DVN) last posted its quarterly earnings results on Tuesday, November 5th. The energy company reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $0.01. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%. The business had revenue of $4.02 billion during the quarter, compared to analysts’ expectations of $3.72 billion. During the same period last year, the company posted $1.65 earnings per share. The business’s quarterly revenue was up 4.9% on a year-over-year basis. On average, sell-side analysts forecast that Devon Energy Co. will post 4.86 EPS for the current year.

Devon Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be issued a $0.22 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.88 annualized dividend and a yield of 2.30%. Devon Energy’s 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.