JB Capital LLC Acquires 3,209 Shares of Devon Energy Co. (NYSE:DVN)

JB Capital LLC boosted its stake in shares of Devon Energy Co. (NYSE:DVN) by 5.1% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 65,715 shares of the energy company’s stock after buying an additional 3,209 shares during the quarter. JB Capital LLC’s holdings in Devon Energy were worth $2,571,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in DVN. Triad Wealth Partners LLC purchased a new position in shares of Devon Energy in the second quarter valued at $27,000. 1620 Investment Advisors Inc. purchased a new position in Devon Energy during the 2nd quarter valued at about $34,000. PSI Advisors LLC increased its position in shares of Devon Energy by 66.7% during the second quarter. PSI Advisors LLC now owns 750 shares of the energy company’s stock valued at $36,000 after buying an additional 300 shares during the period. LRI Investments LLC purchased a new stake in shares of Devon Energy in the first quarter worth about $39,000. Finally, Future Financial Wealth Managment LLC bought a new position in shares of Devon Energy in the third quarter valued at approximately $39,000. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Devon Energy Trading Down 2.0 %

Devon Energy stock traded down $0.80 during trading hours on Thursday, reaching $39.22. The stock had a trading volume of 1,857,455 shares, compared to its average volume of 7,376,954. The company has a fifty day simple moving average of $40.72 and a 200-day simple moving average of $45.03. Devon Energy Co. has a 52 week low of $37.76 and a 52 week high of $55.09. The stock has a market cap of $24.56 billion, a PE ratio of 7.12, a PEG ratio of 1.20 and a beta of 2.03. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.11 and a quick ratio of 1.03.

Devon Energy (NYSE:DVN) last announced its quarterly earnings results on Tuesday, November 5th. The energy company reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.09 by $0.01. Devon Energy had a return on equity of 29.14% and a net margin of 22.60%. The company had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $3.72 billion. During the same quarter in the previous year, the business earned $1.65 EPS. Devon Energy’s revenue was up 4.9% compared to the same quarter last year. Analysts forecast that Devon Energy Co. will post 4.93 EPS for the current fiscal year.

Devon Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 2.24%. The ex-dividend date is Friday, December 13th. Devon Energy’s dividend payout ratio (DPR) is currently 15.97%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Jefferies Financial Group assumed coverage on shares of Devon Energy in a report on Thursday, October 3rd. They set a “hold” rating and a $45.00 target price on the stock. Mizuho cut their price target on shares of Devon Energy from $53.00 to $51.00 and set an “outperform” rating for the company in a research note on Wednesday, October 9th. StockNews.com lowered shares of Devon Energy from a “buy” rating to a “hold” rating in a report on Monday, September 2nd. Barclays cut their target price on shares of Devon Energy from $55.00 to $46.00 and set an “equal weight” rating for the company in a research report on Thursday, October 3rd. Finally, Benchmark restated a “hold” rating on shares of Devon Energy in a research report on Tuesday, October 15th. Eleven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $51.80.

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.