Centaurus Financial Inc. Sells 788 Shares of Devon Energy Co. (NYSE:DVN)

Centaurus Financial Inc. reduced its stake in Devon Energy Co. (NYSE:DVN) by 8.4% in the third quarter, Holdings Channel.com reports. The fund owned 8,567 shares of the energy company’s stock after selling 788 shares during the period. Centaurus Financial Inc.’s holdings in Devon Energy were worth $335,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the stock. William B. Walkup & Associates Inc. purchased a new position in Devon Energy during the second quarter valued at approximately $1,026,000. CIBC Asset Management Inc grew its position in shares of Devon Energy by 6.3% during the 3rd quarter. CIBC Asset Management Inc now owns 107,182 shares of the energy company’s stock valued at $4,193,000 after purchasing an additional 6,358 shares in the last quarter. Smead Capital Management Inc. increased its holdings in shares of Devon Energy by 3.5% in the third quarter. Smead Capital Management Inc. now owns 5,879,516 shares of the energy company’s stock worth $230,007,000 after purchasing an additional 198,193 shares during the period. Nations Financial Group Inc. IA ADV purchased a new stake in shares of Devon Energy in the third quarter worth $592,000. Finally, Gordian Capital Singapore Pte Ltd bought a new stake in Devon Energy during the second quarter valued at $711,000. 69.72% of the stock is currently owned by hedge funds and other institutional investors.

Devon Energy Stock Down 1.5 %

Shares of NYSE DVN opened at $37.71 on Wednesday. The company has a market cap of $24.77 billion, a price-to-earnings ratio of 7.00, a PEG ratio of 1.25 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. The firm’s fifty day moving average is $39.91 and its 200 day moving average is $43.81. Devon Energy Co. has a 52 week low of $37.28 and a 52 week high of $55.09.

Devon Energy (NYSE:DVN) last released its quarterly earnings data 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. The firm had revenue of $4.02 billion for the quarter, compared to analysts’ expectations of $3.72 billion. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.65 earnings per share. On average, equities research analysts expect that Devon Energy Co. will post 4.79 earnings per share for the current year.

Devon Energy Announces Dividend

The firm also recently disclosed 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. This represents a $0.88 annualized dividend and a yield of 2.33%. The ex-dividend date of this dividend is Friday, December 13th. Devon Energy’s dividend payout ratio (DPR) is currently 16.33%.

Wall Street Analyst Weigh In

DVN has been the topic of several recent analyst reports. JPMorgan Chase & Co. lowered their price target on Devon Energy from $64.00 to $51.00 and set an “overweight” rating on the stock in a report on Thursday, September 12th. 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. Morgan Stanley dropped their price objective on shares of Devon Energy from $55.00 to $51.00 and set an “overweight” rating for the company in a report on Monday, September 16th. Wells Fargo & Company reduced their target price on Devon Energy from $50.00 to $49.00 and set an “overweight” rating on the stock in a research note on Thursday, November 7th. Finally, UBS Group lowered their price target on Devon Energy from $53.00 to $47.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $51.15.

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.