Quent Capital LLC Has $225,000 Position in Devon Energy Co. (NYSE:DVN)

Quent Capital LLC cut its position in Devon Energy Co. (NYSE:DVN) by 19.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,749 shares of the energy company’s stock after selling 1,354 shares during the quarter. Quent Capital LLC’s holdings in Devon Energy were worth $225,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in DVN. Vanguard Group Inc. boosted its holdings in Devon Energy by 3.5% in the first quarter. Vanguard Group Inc. now owns 76,457,056 shares of the energy company’s stock worth $3,836,615,000 after acquiring an additional 2,559,039 shares in the last quarter. Pacer Advisors Inc. increased its stake in shares of Devon Energy by 16.8% during the 2nd quarter. Pacer Advisors Inc. now owns 9,913,516 shares of the energy company’s stock worth $469,901,000 after purchasing an additional 1,428,776 shares during the last quarter. Raymond James & Associates raised its stake in shares of Devon Energy by 1.5% in the second quarter. Raymond James & Associates now owns 9,183,778 shares of the energy company’s stock valued at $435,311,000 after buying an additional 138,919 shares during the period. Dimensional Fund Advisors LP boosted its position in Devon Energy by 16.7% during the second 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, Thrivent Financial for Lutherans boosted its holdings in Devon Energy by 15.9% in the 2nd quarter. Thrivent Financial for Lutherans now owns 5,094,017 shares of the energy company’s stock worth $241,456,000 after buying an additional 699,743 shares during the period. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Devon Energy Trading Up 1.5 %

Shares of Devon Energy stock opened at $42.42 on Friday. Devon Energy Co. has a 1-year low of $37.76 and a 1-year high of $55.09. The company’s fifty day simple moving average is $42.66 and its 200-day simple moving average is $46.82. The stock has a market capitalization of $26.81 billion, a PE ratio of 8.10, a P/E/G ratio of 1.22 and a beta of 2.02. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.11 and a quick ratio of 1.03.

Devon Energy (NYSE:DVN) last posted its quarterly earnings data on Tuesday, August 6th. The energy company reported $1.41 EPS for the quarter, topping the consensus estimate of $1.26 by $0.15. The firm had revenue of $3.92 billion for the quarter, compared to the consensus estimate of $3.90 billion. Devon Energy had a return on equity of 29.14% and a net margin of 22.60%. The business’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.18 earnings per share. As a group, equities analysts anticipate that Devon Energy Co. will post 5.11 earnings per share for the current year.

Devon Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were paid a $0.22 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.07%. Devon Energy’s dividend payout ratio (DPR) is presently 16.79%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on DVN. Barclays lowered their target price on shares of Devon Energy from $55.00 to $46.00 and set an “equal weight” rating on the stock in a research note on Thursday. Susquehanna lowered their price objective on Devon Energy from $65.00 to $63.00 and set a “positive” rating for the company in a research report on Wednesday, September 4th. Wolfe Research assumed coverage on shares of Devon Energy in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. Jefferies Financial Group began coverage on shares of Devon Energy in a research report on Thursday. They set a “hold” rating and a $45.00 price objective on the stock. Finally, Bank of America restated a “buy” rating and issued a $64.00 target price on shares of Devon Energy in a research note on Friday, June 14th. Eight investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $53.79.

About Devon Energy

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.