Mutual Advisors LLC Lowers Position in Devon Energy Co. (NYSE:DVN)

Mutual Advisors LLC reduced its position in shares of Devon Energy Co. (NYSE:DVN) by 17.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,748 shares of the energy company’s stock after selling 1,816 shares during the period. Mutual Advisors LLC’s holdings in Devon Energy were worth $286,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in DVN. Capital Performance Advisors LLP acquired a new stake in Devon Energy in the third quarter valued at $35,000. Future Financial Wealth Managment LLC purchased a new position in shares of Devon Energy in the 3rd quarter valued at about $39,000. True Wealth Design LLC lifted its stake in shares of Devon Energy by 3,889.3% in the third quarter. True Wealth Design LLC now owns 1,117 shares of the energy company’s stock valued at $44,000 after purchasing an additional 1,089 shares during the period. Hazlett Burt & Watson Inc. boosted its holdings in Devon Energy by 29.8% during the third quarter. Hazlett Burt & Watson Inc. now owns 1,263 shares of the energy company’s stock worth $49,000 after buying an additional 290 shares in the last quarter. Finally, Activest Wealth Management grew its position in Devon Energy by 60.4% during the third quarter. Activest Wealth Management now owns 1,275 shares of the energy company’s stock worth $50,000 after buying an additional 480 shares during the period. Institutional investors and hedge funds own 69.72% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on DVN. Barclays dropped their price target on Devon Energy from $55.00 to $46.00 and set an “equal weight” rating for the company in a research report on Thursday, October 3rd. Wolfe Research upgraded shares of Devon Energy from a “peer perform” rating to an “outperform” rating and set a $45.00 target price for the company in a research report on Friday, January 3rd. Susquehanna lowered their price target on shares of Devon Energy from $63.00 to $62.00 and set a “positive” rating on the stock in a research report on Friday, October 18th. Royal Bank of Canada restated a “sector perform” rating and set a $50.00 price objective on shares of Devon Energy in a research report on Friday, January 10th. Finally, StockNews.com raised Devon Energy from a “sell” rating to a “hold” rating in a research note on Friday, January 3rd. Nine research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $49.41.

Devon Energy Trading Down 1.3 %

DVN stock opened at $34.88 on Wednesday. The company’s 50-day simple moving average is $35.14 and its 200 day simple moving average is $39.70. Devon Energy Co. has a 52 week low of $30.39 and a 52 week high of $55.09. The company has a market capitalization of $22.91 billion, a PE ratio of 6.47, a price-to-earnings-growth ratio of 1.21 and a beta of 2.00. 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 released its quarterly earnings data on Tuesday, November 5th. The energy company reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.01. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%. The business had revenue of $4.02 billion during the quarter, compared to analysts’ expectations of $3.72 billion. During the same period in the prior year, the company earned $1.65 EPS. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Devon Energy Co. will post 4.7 earnings per share for the current year.

Devon Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Friday, December 13th were paid a $0.22 dividend. 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 is presently 16.33%.

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.