Triton Wealth Management PLLC Sells 236 Shares of Devon Energy Co. (NYSE:DVN)

Triton Wealth Management PLLC decreased its holdings in shares of Devon Energy Co. (NYSE:DVN) by 1.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,782 shares of the energy company’s stock after selling 236 shares during the quarter. Triton Wealth Management PLLC’s holdings in Devon Energy were worth $509,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position 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 valued at $3,836,615,000 after buying an additional 2,559,039 shares in the last quarter. Pacer Advisors Inc. boosted its holdings 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 valued at $469,901,000 after acquiring an additional 1,428,776 shares in the last quarter. Raymond James & Associates grew its position in Devon Energy by 1.5% during the 2nd quarter. Raymond James & Associates now owns 9,183,778 shares of the energy company’s stock worth $435,311,000 after acquiring an additional 138,919 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Devon Energy by 16.7% in the second quarter. Dimensional Fund Advisors LP now owns 8,793,217 shares of the energy company’s stock valued at $416,779,000 after purchasing an additional 1,255,543 shares during the last quarter. Finally, Thrivent Financial for Lutherans boosted its stake in shares of Devon Energy by 15.9% during the second quarter. Thrivent Financial for Lutherans now owns 5,094,017 shares of the energy company’s stock valued at $241,456,000 after purchasing an additional 699,743 shares in the last quarter. Institutional investors own 69.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. StockNews.com cut Devon Energy from a “buy” rating to a “hold” rating in a research note on Monday, September 2nd. Bank of America reiterated a “buy” rating and set a $64.00 price objective on shares of Devon Energy in a research report on Friday, June 14th. Jefferies Financial Group started coverage on shares of Devon Energy in a report on Thursday. They issued a “hold” rating and a $45.00 target price on the stock. Sanford C. Bernstein decreased their price target on Devon Energy from $48.00 to $43.00 and set a “market perform” rating for the company in a report on Wednesday, July 17th. Finally, Wolfe Research started coverage on Devon Energy in a research report on Thursday, July 18th. They issued a “peer perform” rating for the company. Eight investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $53.79.

Devon Energy Stock Up 1.5 %

Devon Energy stock traded up $0.63 during midday trading on Friday, hitting $42.42. 10,292,828 shares of the stock were exchanged, compared to its average volume of 7,291,370. The company has a quick ratio of 1.03, a current ratio of 1.11 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $26.81 billion, a price-to-earnings ratio of 8.10, a price-to-earnings-growth ratio of 1.22 and a beta of 2.02. Devon Energy Co. has a 52-week low of $37.76 and a 52-week high of $55.09. The business’s 50-day moving average price is $42.66 and its 200-day moving average price is $46.83.

Devon Energy (NYSE:DVN) last announced its earnings results on Tuesday, August 6th. The energy company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.15. The firm had revenue of $3.92 billion during the quarter, compared to analyst estimates 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 was up 13.4% compared to the same quarter last year. During the same period last year, the firm posted $1.18 EPS. On average, research analysts expect that Devon Energy Co. will post 5.11 EPS for the current fiscal year.

Devon Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date of this dividend was Friday, September 13th. Devon Energy’s dividend payout ratio is currently 16.79%.

Devon Energy Company 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.