Devon Energy Co. (NYSE:DVN) Shares Sold by Patriot Financial Group Insurance Agency LLC

Patriot Financial Group Insurance Agency LLC trimmed its position in Devon Energy Co. (NYSE:DVN) by 13.2% in the 4th quarter, HoldingsChannel reports. The firm owned 6,387 shares of the energy company’s stock after selling 970 shares during the quarter. Patriot Financial Group Insurance Agency LLC’s holdings in Devon Energy were worth $209,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. EnCap Energy Capital Fund XI L.P. acquired a new stake in shares of Devon Energy in the third quarter worth $461,857,000. EnCap Partners GP LLC purchased a new stake in Devon Energy in the third quarter valued at $408,653,000. EnCap Energy Capital Fund X L.P. purchased a new position in shares of Devon Energy during the 3rd quarter valued at about $230,928,000. International Assets Investment Management LLC raised its stake in shares of Devon Energy by 4,125.7% during the 3rd quarter. International Assets Investment Management LLC now owns 2,280,961 shares of the energy company’s stock valued at $89,231,000 after buying an additional 2,226,983 shares during the last quarter. Finally, Pacer Advisors Inc. lifted its holdings in shares of Devon Energy by 16.9% in the 3rd quarter. Pacer Advisors Inc. now owns 11,591,168 shares of the energy company’s stock valued at $453,446,000 after buying an additional 1,677,652 shares during the period. Institutional investors and hedge funds own 69.72% of the company’s stock.

Devon Energy Stock Up 0.5 %

Shares of NYSE DVN opened at $35.05 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 $35.07 and a 200 day moving average of $39.67. Devon Energy Co. has a 12-month low of $30.39 and a 12-month high of $55.09. The stock has a market cap of $23.02 billion, a PE ratio of 6.50, a P/E/G ratio of 1.21 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, beating analysts’ consensus estimates of $1.09 by $0.01. Devon Energy had a return on equity of 24.73% and a net margin of 21.71%. The business had revenue of $4.02 billion during the quarter, compared to analyst estimates of $3.72 billion. During the same period in the prior year, the business earned $1.65 earnings per share. The business’s revenue was up 4.9% compared to the same quarter last year. As a group, sell-side analysts predict that Devon Energy Co. will post 4.7 EPS for the current fiscal year.

Devon Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Friday, December 13th were issued a dividend of $0.22 per share. The ex-dividend date was Friday, December 13th. This represents a $0.88 annualized dividend and a dividend yield of 2.51%. Devon Energy’s dividend payout ratio is presently 16.33%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on DVN shares. Royal Bank of Canada reissued a “sector perform” rating and issued a $50.00 price target on shares of Devon Energy in a report on Friday, January 10th. Wells Fargo & Company decreased their target price on shares of Devon Energy from $49.00 to $43.00 and set an “overweight” rating for the company in a research note on Tuesday, December 17th. BMO Capital Markets dropped their price target on shares of Devon Energy from $52.00 to $48.00 and set an “outperform” rating on the stock in a research report on Friday, October 4th. StockNews.com upgraded shares of Devon Energy from a “sell” rating to a “hold” rating in a research report on Friday, January 3rd. Finally, Mizuho dropped their target price on Devon Energy from $51.00 to $47.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. Nine equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Devon Energy has a consensus rating of “Moderate Buy” and a consensus price target of $49.45.

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.