Waters Parkerson & CO. LLC Sells 1,168 Shares of Devon Energy Co. (NYSE:DVN)

Waters Parkerson & CO. LLC lessened its stake in shares of Devon Energy Co. (NYSE:DVN) by 0.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 153,577 shares of the energy company’s stock after selling 1,168 shares during the period. Waters Parkerson & CO. LLC’s holdings in Devon Energy were worth $7,280,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Brown Advisory Inc. raised its stake in Devon Energy by 43.0% during the 4th quarter. Brown Advisory Inc. now owns 11,889 shares of the energy company’s stock worth $539,000 after acquiring an additional 3,573 shares during the period. TrinityPoint Wealth LLC purchased a new position in shares of Devon Energy during the 4th quarter valued at $2,068,000. Gladstone Institutional Advisory LLC boosted its holdings in Devon Energy by 21.2% in the 4th quarter. Gladstone Institutional Advisory LLC now owns 8,833 shares of the energy company’s stock worth $400,000 after buying an additional 1,545 shares during the period. Balentine LLC increased its stake in Devon Energy by 11.2% in the 4th quarter. Balentine LLC now owns 7,276 shares of the energy company’s stock worth $330,000 after buying an additional 735 shares in the last quarter. Finally, CreativeOne Wealth LLC increased its stake in Devon Energy by 11.9% in the 4th quarter. CreativeOne Wealth LLC now owns 10,985 shares of the energy company’s stock worth $498,000 after buying an additional 1,166 shares in the last quarter. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Analyst Ratings Changes

DVN has been the subject of a number of recent analyst reports. Susquehanna dropped their price objective on Devon Energy from $65.00 to $63.00 and set a “positive” rating for the company in a research note on Wednesday, September 4th. BMO Capital Markets raised shares of Devon Energy to a “strong-buy” rating in a report on Wednesday, July 3rd. Bank of America reissued a “buy” rating and issued a $64.00 target price on shares of Devon Energy in a report on Friday, June 14th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $57.00 target price on shares of Devon Energy in a research note on Tuesday, September 3rd. Finally, Wells Fargo & Company decreased their target price on Devon Energy from $57.00 to $55.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 14th. Six equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Devon Energy currently has an average rating of “Moderate Buy” and a consensus target price of $57.00.

Devon Energy Stock Performance

Devon Energy stock opened at $40.97 on Friday. Devon Energy Co. has a 1-year low of $39.02 and a 1-year high of $55.09. The company’s 50-day moving average is $44.28 and its 200 day moving average is $47.35. The firm has a market capitalization of $25.89 billion, a P/E ratio of 7.82, a price-to-earnings-growth ratio of 1.13 and a beta of 2.03. 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 announced its quarterly earnings data on Tuesday, August 6th. The energy company reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.15. The company had revenue of $3.92 billion during the quarter, compared to analyst estimates of $3.90 billion. Devon Energy had a net margin of 22.60% and a return on equity of 29.14%. The firm’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same quarter last year, the business posted $1.18 EPS. Research analysts forecast that Devon Energy Co. will post 5.36 EPS for the current year.

Devon Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be issued a dividend of $0.22 per share. The ex-dividend date is Friday, September 13th. This represents a $0.88 annualized dividend and a yield of 2.15%. Devon Energy’s 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.