Global Retirement Partners LLC Sells 3,049 Shares of Devon Energy Co. (NYSE:DVN)

Global Retirement Partners LLC lessened its position in shares of Devon Energy Co. (NYSE:DVN) by 14.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,810 shares of the energy company’s stock after selling 3,049 shares during the period. Global Retirement Partners LLC’s holdings in Devon Energy were worth $697,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in DVN. Wellington Management Group LLP boosted its holdings in shares of Devon Energy by 9.8% during the fourth quarter. Wellington Management Group LLP now owns 173,024 shares of the energy company’s stock worth $7,838,000 after acquiring an additional 15,384 shares during the period. Los Angeles Capital Management LLC acquired a new stake in shares of Devon Energy in the first quarter valued at approximately $951,000. Salem Investment Counselors Inc. raised its position in shares of Devon Energy by 31.4% in the first quarter. Salem Investment Counselors Inc. now owns 832 shares of the energy company’s stock valued at $42,000 after buying an additional 199 shares in the last quarter. Global Assets Advisory LLC acquired a new stake in shares of Devon Energy in the first quarter valued at approximately $10,895,000. Finally, Nepsis Inc. raised its position in shares of Devon Energy by 1.7% in the first quarter. Nepsis Inc. now owns 420,914 shares of the energy company’s stock valued at $21,121,000 after buying an additional 7,104 shares in the last quarter. Institutional investors own 69.72% of the company’s stock.

Devon Energy Stock Performance

Shares of Devon Energy stock opened at $40.66 on Monday. The company has a quick ratio of 1.03, a current ratio of 1.11 and a debt-to-equity ratio of 0.45. Devon Energy Co. has a twelve month low of $37.76 and a twelve month high of $55.09. The stock has a market cap of $25.70 billion, a price-to-earnings ratio of 7.76, a P/E/G ratio of 1.27 and a beta of 2.02. The company’s fifty day moving average is $42.15 and its 200 day moving average is $46.28.

Devon Energy (NYSE:DVN) last issued its quarterly earnings data on Tuesday, August 6th. The energy company reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.15. Devon Energy had a net margin of 22.60% and a return on equity of 29.14%. The company had revenue of $3.92 billion for the quarter, compared to analysts’ expectations of $3.90 billion. During the same quarter in the previous year, the firm posted $1.18 earnings per share. Devon Energy’s revenue for the quarter was up 13.4% on a year-over-year basis. Sell-side analysts forecast that Devon Energy Co. will post 5.01 EPS for the current year.

Devon Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors 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 annualized dividend and a dividend yield of 2.16%. Devon Energy’s dividend payout ratio is 16.79%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Truist Financial dropped their price target on shares of Devon Energy from $60.00 to $49.00 and set a “buy” rating for the company in a research report on Monday, September 30th. Wolfe Research assumed coverage on shares of Devon Energy in a research report on Thursday, July 18th. They issued a “peer perform” rating for the company. Royal Bank of Canada restated a “sector perform” rating and set a $57.00 price objective on shares of Devon Energy in a research report on Tuesday, September 3rd. Wells Fargo & Company restated a “sector outperform” rating on shares of Devon Energy in a research report on Friday. Finally, UBS Group lowered their price objective on shares of Devon Energy from $53.00 to $47.00 and set a “neutral” rating for the company in a research report on Wednesday, September 18th. Nine research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, Devon Energy currently has an average rating of “Moderate Buy” and a consensus price target of $52.53.

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.