AlphaQuest LLC Has $1.44 Million Stock Holdings in Devon Energy Corporation $DVN

AlphaQuest LLC raised its holdings in Devon Energy Corporation (NYSE:DVN) by 835.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 41,049 shares of the energy company’s stock after purchasing an additional 36,663 shares during the quarter. AlphaQuest LLC’s holdings in Devon Energy were worth $1,439,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in DVN. Summit Global Investments bought a new stake in shares of Devon Energy during the third quarter worth $783,000. AE Wealth Management LLC raised its stake in Devon Energy by 23.3% during the third quarter. AE Wealth Management LLC now owns 19,188 shares of the energy company’s stock worth $673,000 after buying an additional 3,624 shares during the last quarter. Archer Investment Corp raised its position in shares of Devon Energy by 1,427.3% in the 3rd quarter. Archer Investment Corp now owns 8,171 shares of the energy company’s stock worth $286,000 after acquiring an additional 7,636 shares in the last quarter. Fidelis Capital Partners LLC bought a new stake in Devon Energy in the third quarter worth approximately $201,000. Finally, Annis Gardner Whiting Capital Advisors LLC increased its stake in shares of Devon Energy by 66.1% in the 3rd quarter. Annis Gardner Whiting Capital Advisors LLC now owns 5,173 shares of the energy company’s stock valued at $181,000 after acquiring an additional 2,058 shares in the last quarter. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Devon Energy Trading Up 0.5%

NYSE DVN opened at $40.14 on Friday. The company has a quick ratio of 0.87, a current ratio of 0.96 and a debt-to-equity ratio of 0.48. The stock’s 50-day simple moving average is $36.99 and its two-hundred day simple moving average is $35.02. Devon Energy Corporation has a twelve month low of $25.89 and a twelve month high of $41.31. The company has a market capitalization of $25.18 billion, a price-to-earnings ratio of 9.44, a PEG ratio of 3.64 and a beta of 0.60.

Devon Energy (NYSE:DVN) last announced its quarterly earnings data on Wednesday, November 5th. The energy company reported $1.04 EPS for the quarter, beating the consensus estimate of $0.93 by $0.11. The firm had revenue of $0.00 million for the quarter, compared to analyst estimates of $4.10 billion. Devon Energy had a return on equity of 18.14% and a net margin of 15.56%.During the same period in the prior year, the company earned $1.10 EPS. Research analysts forecast that Devon Energy Corporation will post 4.85 EPS for the current fiscal year.

Devon Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 30th. Investors of record on Monday, December 15th were issued a dividend of $0.24 per share. The ex-dividend date of this dividend was Monday, December 15th. This represents a $0.96 annualized dividend and a dividend yield of 2.4%. Devon Energy’s dividend payout ratio (DPR) is currently 22.59%.

Wall Street Analyst Weigh In

Several research firms have recently commented on DVN. Morgan Stanley lowered their target price on Devon Energy from $48.00 to $46.00 and set an “overweight” rating on the stock in a research report on Friday, January 23rd. Argus upgraded shares of Devon Energy to a “strong-buy” rating in a research report on Wednesday, November 26th. The Goldman Sachs Group upped their price target on Devon Energy from $40.00 to $42.00 and gave the company a “buy” rating in a research report on Thursday, November 13th. Jefferies Financial Group raised their price target on Devon Energy from $33.00 to $36.00 and gave the stock a “hold” rating in a report on Tuesday, January 20th. Finally, Royal Bank Of Canada set a $42.00 target price on shares of Devon Energy and gave the stock a “sector perform” rating in a report on Friday, October 10th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $44.76.

Devon Energy Profile

Devon Energy Corporation (NYSE: DVN) is an independent oil and gas exploration and production company headquartered in Oklahoma City, Oklahoma. The company focuses on the exploration, development, production and marketing of hydrocarbons, including crude oil, natural gas liquids (NGLs) and natural gas. Devon operates as an upstream energy company that acquires, evaluates and develops onshore resource plays using a combination of drilling, completion and production optimization techniques.

Core business activities include identifying and developing energy reserves, operating well programs and managing reservoir performance to generate production and cash flow.