Sfmg LLC Lowers Holdings in Devon Energy Co. (NYSE:DVN)

Sfmg LLC lowered its holdings in Devon Energy Co. (NYSE:DVN) by 4.1% in the fourth quarter, Holdings Channel.com reports. The fund owned 62,186 shares of the energy company’s stock after selling 2,685 shares during the quarter. Sfmg LLC’s holdings in Devon Energy were worth $2,035,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of DVN. Pathstone Holdings LLC lifted its holdings in Devon Energy by 20.6% in the third quarter. Pathstone Holdings LLC now owns 199,218 shares of the energy company’s stock valued at $7,797,000 after acquiring an additional 34,056 shares during the period. Prospera Financial Services Inc lifted its holdings in Devon Energy by 20.4% in the third quarter. Prospera Financial Services Inc now owns 22,813 shares of the energy company’s stock valued at $893,000 after acquiring an additional 3,867 shares during the period. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Devon Energy in the third quarter valued at $806,000. PNC Financial Services Group Inc. lifted its holdings in Devon Energy by 14.8% in the third quarter. PNC Financial Services Group Inc. now owns 174,495 shares of the energy company’s stock valued at $6,826,000 after acquiring an additional 22,534 shares during the period. Finally, Avior Wealth Management LLC lifted its holdings in Devon Energy by 15.7% in the third quarter. Avior Wealth Management LLC now owns 9,515 shares of the energy company’s stock valued at $372,000 after acquiring an additional 1,293 shares during the period. Institutional investors and hedge funds own 69.72% of the company’s stock.

Devon Energy Stock Up 0.1 %

DVN opened at $36.18 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 1.01. The stock has a market capitalization of $23.48 billion, a price-to-earnings ratio of 7.93, a price-to-earnings-growth ratio of 1.20 and a beta of 1.91. The business has a 50-day moving average of $35.46 and a two-hundred day moving average of $37.06. Devon Energy Co. has a 12 month low of $30.39 and a 12 month high of $55.09.

Devon Energy (NYSE:DVN) last posted its quarterly earnings results on Tuesday, February 18th. The energy company reported $1.16 EPS for the quarter, beating the consensus estimate of $1.00 by $0.16. The company had revenue of $4.40 billion during the quarter, compared to analysts’ expectations of $4.25 billion. Devon Energy had a return on equity of 22.52% and a net margin of 18.14%. On average, research analysts expect that Devon Energy Co. will post 4.85 earnings per share for the current year.

Devon Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a $0.24 dividend. This is a boost from Devon Energy’s previous quarterly dividend of $0.22. The ex-dividend date is Friday, March 14th. This represents a $0.96 annualized dividend and a yield of 2.65%. Devon Energy’s payout ratio is 21.05%.

Analysts Set New Price Targets

DVN has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. reduced their target price on Devon Energy from $48.00 to $42.00 and set a “neutral” rating for the company in a report on Thursday, March 13th. Cowen downgraded Devon Energy to a “hold” rating and cut their price target for the stock from $46.00 to $45.00 in a research note on Tuesday, February 18th. StockNews.com raised Devon Energy from a “sell” rating to a “hold” rating in a research note on Friday, January 3rd. Wolfe Research raised Devon Energy from a “peer perform” rating to an “outperform” rating and set a $45.00 price target for the company in a research note on Friday, January 3rd. Finally, Benchmark reaffirmed a “buy” rating and set a $44.00 price target on shares of Devon Energy in a research note on Thursday, February 20th. Ten equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $48.46.

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.