Raymond James Trust N.A. Trims Stock Position in Devon Energy Co. (NYSE:DVN)

Raymond James Trust N.A. decreased its position in shares of Devon Energy Co. (NYSE:DVN) by 19.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 70,995 shares of the energy company’s stock after selling 17,347 shares during the quarter. Raymond James Trust N.A.’s holdings in Devon Energy were worth $2,777,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. International Assets Investment Management LLC grew its stake in 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 worth $89,231,000 after buying an additional 2,226,983 shares during the last quarter. Pacer Advisors Inc. increased 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 acquiring an additional 1,677,652 shares during the period. Los Angeles Capital Management LLC raised its position in Devon Energy by 7,165.6% in the 2nd quarter. Los Angeles Capital Management LLC now owns 1,376,253 shares of the energy company’s stock valued at $65,234,000 after purchasing an additional 1,357,311 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Devon Energy by 16.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 8,793,217 shares of the energy company’s stock worth $416,779,000 after purchasing an additional 1,255,543 shares during the period. Finally, National Bank of Canada FI grew its position in Devon Energy by 447.6% during the 2nd quarter. National Bank of Canada FI now owns 1,179,538 shares of the energy company’s stock worth $56,299,000 after purchasing an additional 964,147 shares during the last quarter. Institutional investors and hedge funds own 69.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on DVN shares. Mizuho reduced their target price on shares of Devon Energy from $53.00 to $51.00 and set an “outperform” rating for the company in a report on Wednesday, October 9th. Piper Sandler increased their price objective on Devon Energy from $56.00 to $57.00 and gave the stock an “overweight” rating in a research report on Monday, November 18th. 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 report on Tuesday, November 5th. Susquehanna decreased their price target on Devon Energy from $63.00 to $62.00 and set a “positive” rating for the company in a report on Friday, October 18th. Finally, Benchmark reissued a “hold” rating on shares of Devon Energy in a research note on Tuesday, October 15th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $51.85.

Devon Energy Stock Up 1.9 %

DVN opened at $39.45 on Friday. Devon Energy Co. has a one year low of $37.76 and a one year high of $55.09. The company has a market cap of $25.91 billion, a price-to-earnings ratio of 7.32, a PEG ratio of 1.22 and a beta of 2.03. The business’s fifty day moving average is $39.94 and its two-hundred day moving average is $43.95. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.11.

Devon Energy (NYSE:DVN) last issued its quarterly earnings data on Tuesday, November 5th. The energy company reported $1.10 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 firm’s revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the company earned $1.65 EPS. Analysts anticipate that Devon Energy Co. will post 4.79 EPS for the current fiscal year.

Devon Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.88 annualized dividend and a dividend yield of 2.23%. Devon Energy’s dividend payout ratio is currently 16.33%.

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.