NBC Securities Inc. Purchases 3,679 Shares of Devon Energy Co. (NYSE:DVN)

NBC Securities Inc. lifted its position in shares of Devon Energy Co. (NYSE:DVN) by 122,633.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,682 shares of the energy company’s stock after purchasing an additional 3,679 shares during the period. NBC Securities Inc.’s holdings in Devon Energy were worth $137,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Woodstock Corp raised its position in Devon Energy by 16.7% in the first quarter. Woodstock Corp now owns 14,000 shares of the energy company’s stock worth $524,000 after acquiring an additional 2,000 shares during the period. Czech National Bank raised its position in Devon Energy by 5.9% in the first quarter. Czech National Bank now owns 150,879 shares of the energy company’s stock worth $5,643,000 after acquiring an additional 8,450 shares during the period. 180 Wealth Advisors LLC raised its position in Devon Energy by 6.9% in the first quarter. 180 Wealth Advisors LLC now owns 24,352 shares of the energy company’s stock worth $911,000 after acquiring an additional 1,571 shares during the period. Rhumbline Advisers raised its position in shares of Devon Energy by 10.2% in the first quarter. Rhumbline Advisers now owns 1,253,112 shares of the energy company’s stock valued at $46,866,000 after purchasing an additional 115,835 shares during the period. Finally, Peoples Bank KS raised its position in shares of Devon Energy by 93.9% in the first quarter. Peoples Bank KS now owns 18,425 shares of the energy company’s stock valued at $689,000 after purchasing an additional 8,925 shares during the period. Institutional investors own 69.72% of the company’s stock.

Devon Energy Price Performance

Shares of NYSE:DVN opened at $32.66 on Tuesday. The stock has a market cap of $20.97 billion, a PE ratio of 7.16, a PEG ratio of 1.20 and a beta of 1.02. The company’s fifty day moving average is $30.99 and its 200 day moving average is $33.69. Devon Energy Co. has a 52 week low of $25.89 and a 52 week high of $49.35. The company has a quick ratio of 1.01, a current ratio of 1.04 and a debt-to-equity ratio of 0.57.

Devon Energy (NYSE:DVN) last issued its earnings results on Tuesday, May 6th. The energy company reported $1.21 EPS for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.06). The business had revenue of $4.45 billion during the quarter, compared to analysts’ expectations of $4.31 billion. Devon Energy had a return on equity of 22.52% and a net margin of 18.14%. Devon Energy’s revenue for the quarter was up 23.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.16 EPS. Research analysts anticipate that Devon Energy Co. will post 4.85 earnings per share for the current year.

Devon Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.96 dividend on an annualized basis and a yield of 2.94%. Devon Energy’s dividend payout ratio is currently 21.87%.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Citigroup lowered their price target on shares of Devon Energy from $46.00 to $43.00 and set a “buy” rating on the stock in a research report on Friday, April 4th. Mizuho lowered their price target on shares of Devon Energy from $46.00 to $43.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 13th. Royal Bank of Canada lowered their price target on shares of Devon Energy from $49.00 to $40.00 and set a “sector perform” rating on the stock in a research report on Monday, April 14th. JPMorgan Chase & Co. lowered their price target on shares of Devon Energy from $48.00 to $42.00 and set a “neutral” rating on the stock in a research report on Thursday, March 13th. Finally, The Goldman Sachs Group boosted their price target on shares of Devon Energy from $38.00 to $43.00 and gave the company a “buy” rating in a research report on Thursday, May 15th. Ten investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, Devon Energy has a consensus rating of “Moderate Buy” and an average target price of $43.71.

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.