TCG Advisory Services LLC Has $6.62 Million Stock Position in Devon Energy Co. (NYSE:DVN)

TCG Advisory Services LLC grew its holdings in shares of Devon Energy Co. (NYSE:DVN) by 979.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 146,148 shares of the energy company’s stock after acquiring an additional 132,613 shares during the period. TCG Advisory Services LLC’s holdings in Devon Energy were worth $6,620,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of DVN. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in Devon Energy during the 3rd quarter valued at approximately $27,000. Sound Income Strategies LLC boosted its stake in shares of Devon Energy by 60.7% in the 4th quarter. Sound Income Strategies LLC now owns 675 shares of the energy company’s stock valued at $31,000 after purchasing an additional 255 shares during the last quarter. Rise Advisors LLC increased its position in shares of Devon Energy by 1,365.3% during the fourth quarter. Rise Advisors LLC now owns 718 shares of the energy company’s stock worth $33,000 after buying an additional 669 shares during the period. PFS Partners LLC bought a new position in Devon Energy during the fourth quarter worth $36,000. Finally, Naples Money Management LLC acquired a new position in Devon Energy in the fourth quarter valued at $40,000. Institutional investors own 69.72% of the company’s stock.

Devon Energy Stock Up 0.4 %

Shares of NYSE:DVN traded up $0.20 during mid-day trading on Friday, hitting $50.54. 8,953,763 shares of the company traded hands, compared to its average volume of 7,073,719. The stock has a market cap of $32.09 billion, a P/E ratio of 9.65 and a beta of 2.16. The stock has a 50-day moving average price of $49.62 and a two-hundred day moving average price of $46.28. Devon Energy Co. has a 12-month low of $40.47 and a 12-month high of $55.09. The company has a current ratio of 1.04, a quick ratio of 0.99 and a debt-to-equity ratio of 0.46.

Devon Energy (NYSE:DVN) last posted its quarterly earnings data on Wednesday, May 1st. The energy company reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.06. Devon Energy had a net margin of 22.27% and a return on equity of 29.02%. The firm had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.64 billion. During the same period in the previous year, the firm earned $1.46 EPS. The business’s revenue for the quarter was down 5.9% compared to the same quarter last year. On average, equities research analysts forecast that Devon Energy Co. will post 5.24 earnings per share for the current year.

Devon Energy Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be given a dividend of $0.22 per share. The ex-dividend date is Friday, June 14th. This represents a $0.88 annualized dividend and a dividend yield of 1.74%. Devon Energy’s dividend payout ratio is currently 16.79%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. UBS Group lifted their price objective on Devon Energy from $48.00 to $57.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 10th. Citigroup increased their price target on Devon Energy from $55.00 to $62.00 and gave the stock a “buy” rating in a report on Thursday, April 11th. Morgan Stanley boosted their target price on shares of Devon Energy from $49.00 to $50.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Raymond James reduced their price target on shares of Devon Energy from $53.00 to $52.00 and set an “outperform” rating for the company in a report on Wednesday, January 24th. Finally, Scotiabank upped their price objective on shares of Devon Energy from $53.00 to $67.00 and gave the company a “sector outperform” rating in a report on Thursday, April 11th. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $58.44.

Devon Energy 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.