Janney Montgomery Scott LLC Sells 33,950 Shares of Devon Energy Co. (NYSE:DVN)

Janney Montgomery Scott LLC lessened its stake in shares of Devon Energy Co. (NYSE:DVN) by 12.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 233,760 shares of the energy company’s stock after selling 33,950 shares during the period. Janney Montgomery Scott LLC’s holdings in Devon Energy were worth $7,651,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in DVN. Dakota Wealth Management lifted its position in shares of Devon Energy by 260.8% during the 4th quarter. Dakota Wealth Management now owns 19,230 shares of the energy company’s stock valued at $629,000 after buying an additional 13,900 shares during the last quarter. MCF Advisors LLC lifted its holdings in Devon Energy by 60.6% during the fourth quarter. MCF Advisors LLC now owns 6,109 shares of the energy company’s stock valued at $200,000 after purchasing an additional 2,306 shares during the last quarter. Segment Wealth Management LLC boosted its position in Devon Energy by 4.5% during the fourth quarter. Segment Wealth Management LLC now owns 8,952 shares of the energy company’s stock worth $293,000 after purchasing an additional 385 shares during the period. Perpetual Ltd raised its position in shares of Devon Energy by 165.2% in the fourth quarter. Perpetual Ltd now owns 16,268 shares of the energy company’s stock valued at $532,000 after purchasing an additional 10,133 shares during the period. Finally, Lmcg Investments LLC lifted its stake in shares of Devon Energy by 1.6% during the 4th quarter. Lmcg Investments LLC now owns 56,858 shares of the energy company’s stock valued at $1,861,000 after buying an additional 896 shares in the last quarter. 69.72% of the stock is currently owned by hedge funds and other institutional investors.

Devon Energy Trading Down 1.3 %

NYSE:DVN opened at $34.88 on Wednesday. The firm has a market capitalization of $22.91 billion, a P/E ratio of 6.47, a P/E/G ratio of 1.21 and a beta of 2.00. Devon Energy Co. has a 52 week low of $30.39 and a 52 week high of $55.09. The company has a quick ratio of 1.01, a current ratio of 1.11 and a debt-to-equity ratio of 0.61. The company has a fifty day moving average of $35.14 and a 200 day moving average of $39.70.

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 the consensus estimate of $1.09 by $0.01. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%. The firm had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $3.72 billion. During the same period in the prior year, the firm posted $1.65 earnings per share. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. On average, research analysts predict that Devon Energy Co. will post 4.7 earnings per share for the current year.

Devon Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Friday, December 13th were paid a dividend of $0.22 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.88 annualized dividend and a dividend yield of 2.52%. Devon Energy’s dividend payout ratio (DPR) is presently 16.33%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on DVN shares. StockNews.com upgraded shares of Devon Energy from a “sell” rating to a “hold” rating in a research note on Friday, January 3rd. Truist Financial reduced their price target on Devon Energy from $43.00 to $42.00 and set a “hold” rating for the company in a research report on Monday, January 13th. TD Cowen cut their target price on Devon Energy from $54.00 to $46.00 and set a “hold” rating for the company in a research note on Tuesday, November 5th. Royal Bank of Canada reiterated a “sector perform” rating and set a $50.00 price target on shares of Devon Energy in a research report on Friday, January 10th. Finally, Raymond James increased their price target on shares of Devon Energy from $53.00 to $54.00 and gave the stock an “outperform” rating in a report on Thursday, January 23rd. Nine analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $49.41.

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.