Private Advisor Group LLC Reduces Position in Devon Energy Co. (NYSE:DVN)

Private Advisor Group LLC trimmed its holdings in Devon Energy Co. (NYSE:DVN) by 4.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 91,825 shares of the energy company’s stock after selling 4,391 shares during the quarter. Private Advisor Group LLC’s holdings in Devon Energy were worth $3,005,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in DVN. Capital Performance Advisors LLP purchased a new position in Devon Energy during the third quarter worth approximately $35,000. True Wealth Design LLC increased its stake in shares of Devon Energy by 3,889.3% in the 3rd quarter. True Wealth Design LLC now owns 1,117 shares of the energy company’s stock worth $44,000 after acquiring an additional 1,089 shares during the last quarter. Hazlett Burt & Watson Inc. raised its holdings in shares of Devon Energy by 29.8% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 1,263 shares of the energy company’s stock worth $49,000 after acquiring an additional 290 shares during the period. Activest Wealth Management raised its holdings in shares of Devon Energy by 60.4% during the 3rd quarter. Activest Wealth Management now owns 1,275 shares of the energy company’s stock worth $50,000 after acquiring an additional 480 shares during the period. Finally, Sierra Ocean LLC acquired a new position in shares of Devon Energy during the 4th quarter valued at about $43,000. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Devon Energy Trading Down 0.6 %

DVN opened at $37.27 on Tuesday. The business has a fifty day moving average price of $34.57 and a 200 day moving average price of $38.26. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 1.01. Devon Energy Co. has a 12 month low of $30.39 and a 12 month high of $55.09. The stock has a market capitalization of $24.18 billion, a price-to-earnings ratio of 8.17, a PEG ratio of 1.20 and a beta of 1.98.

Devon Energy (NYSE:DVN) last announced its quarterly earnings data on Tuesday, February 18th. The energy company reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.16. The business had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.25 billion. Devon Energy had a return on equity of 22.52% and a net margin of 18.14%. Sell-side analysts expect that Devon Energy Co. will post 4.85 earnings per share for the current fiscal year.

Devon Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.58%. This is a positive change from Devon Energy’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Friday, March 14th. Devon Energy’s dividend payout ratio (DPR) is presently 19.30%.

Analysts Set New Price Targets

DVN has been the topic of a number of analyst reports. Raymond James lifted their target price on shares of Devon Energy from $53.00 to $54.00 and gave the stock an “outperform” rating in a research note on Thursday, January 23rd. Wells Fargo & Company reduced their price target on shares of Devon Energy from $49.00 to $43.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 17th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $50.00 price objective on shares of Devon Energy in a research report on Friday, January 10th. StockNews.com upgraded Devon Energy from a “sell” rating to a “hold” rating in a research report on Friday, January 3rd. Finally, Barclays upped their price target on Devon Energy from $43.00 to $44.00 and gave the company an “equal weight” rating in a research note on Thursday, February 20th. Ten research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $48.87.

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.