Devon Energy Co. (NYSE:DVN) Shares Sold by Adirondack Trust Co.

Adirondack Trust Co. trimmed its position in Devon Energy Co. (NYSE:DVN) by 40.1% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,346 shares of the energy company’s stock after selling 901 shares during the period. Adirondack Trust Co.’s holdings in Devon Energy were worth $44,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. William B. Walkup & Associates Inc. bought a new stake in shares of Devon Energy in the 2nd quarter valued at approximately $1,026,000. Bridgewater Associates LP acquired a new position in shares of Devon Energy in the 3rd quarter valued at about $9,426,000. Legacy Investment Solutions LLC bought a new stake in shares of Devon Energy during the 3rd quarter valued at about $8,002,000. Petrus Trust Company LTA raised its stake in Devon Energy by 394.7% during the third quarter. Petrus Trust Company LTA now owns 21,827 shares of the energy company’s stock worth $854,000 after acquiring an additional 17,415 shares during the period. Finally, CIBC Asset Management Inc lifted its holdings in Devon Energy by 6.3% in the third quarter. CIBC Asset Management Inc now owns 107,182 shares of the energy company’s stock worth $4,193,000 after acquiring an additional 6,358 shares during the last quarter. 69.72% of the stock is owned by institutional investors.

Devon Energy Stock Performance

NYSE:DVN opened at $36.46 on Thursday. The company has a current ratio of 1.11, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. The company has a 50-day moving average of $35.37 and a 200-day moving average of $40.05. Devon Energy Co. has a twelve month low of $30.39 and a twelve month high of $55.09. The firm has a market cap of $23.95 billion, a price-to-earnings ratio of 6.76, a price-to-earnings-growth ratio of 1.22 and a beta of 2.00.

Devon Energy (NYSE:DVN) last posted its quarterly earnings results on Tuesday, November 5th. The energy company reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $0.01. The firm had revenue of $4.02 billion for the quarter, compared to analyst estimates of $3.72 billion. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.65 earnings per share. Analysts forecast that Devon Energy Co. will post 4.68 earnings per share for the current fiscal year.

Devon Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Friday, December 13th were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date of this dividend was Friday, December 13th. Devon Energy’s dividend payout ratio (DPR) is presently 16.33%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on DVN. Evercore ISI lowered their target price on Devon Energy from $55.00 to $50.00 and set an “in-line” rating for the company in a report on Monday, September 30th. TD Cowen dropped their target price on Devon Energy from $54.00 to $46.00 and set a “hold” rating on the stock in a research report on Tuesday, November 5th. StockNews.com raised shares of Devon Energy from a “sell” rating to a “hold” rating in a report on Friday, January 3rd. Barclays dropped their price objective on shares of Devon Energy from $55.00 to $46.00 and set an “equal weight” rating on the stock in a report on Thursday, October 3rd. Finally, JPMorgan Chase & Co. lowered shares of Devon Energy from an “overweight” rating to a “neutral” rating and set a $43.00 target price for the company. in a research note on Thursday, December 5th. Nine analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $49.27.

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.