Devon Energy Co. (NYSE:DVN) Shares Sold by Wealth Alliance Advisory Group LLC

Wealth Alliance Advisory Group LLC trimmed its holdings in Devon Energy Co. (NYSE:DVN) by 6.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 26,250 shares of the energy company’s stock after selling 1,725 shares during the period. Wealth Alliance Advisory Group LLC’s holdings in Devon Energy were worth $1,027,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings 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 acquiring an additional 2,559,039 shares during the last quarter. Pacer Advisors Inc. lifted its stake in shares of Devon Energy by 16.8% in the 2nd quarter. Pacer Advisors Inc. now owns 9,913,516 shares of the energy company’s stock valued at $469,901,000 after purchasing an additional 1,428,776 shares in the last quarter. Raymond James & Associates grew its holdings in shares of 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 purchasing an additional 138,919 shares during the period. Dimensional Fund Advisors LP increased its position in Devon Energy by 16.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 8,793,217 shares of the energy company’s stock worth $416,779,000 after purchasing an additional 1,255,543 shares in the last quarter. Finally, Thrivent Financial for Lutherans raised its holdings in Devon Energy by 15.9% in 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 buying an additional 699,743 shares during the period. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Devon Energy Trading Up 0.2 %

Shares of NYSE DVN opened at $40.66 on Friday. The stock has a market capitalization of $25.70 billion, a P/E ratio of 7.76, a PEG ratio of 1.27 and a beta of 2.02. The stock’s 50 day moving average price is $42.15 and its two-hundred day moving average price is $46.28. 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 52-week low of $37.76 and a 52-week high of $55.09.

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

Devon Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors 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 2.16%. The ex-dividend date was Friday, September 13th. Devon Energy’s dividend payout ratio is presently 16.79%.

Analyst Ratings Changes

Several equities research analysts have issued reports on DVN shares. StockNews.com downgraded shares of Devon Energy from a “buy” rating to a “hold” rating in a research note on Monday, September 2nd. Scotiabank lowered their price target on Devon Energy from $60.00 to $48.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Wolfe Research assumed coverage on Devon Energy in a research note on Thursday, July 18th. They set a “peer perform” rating on the stock. BMO Capital Markets lowered their target price on Devon Energy from $52.00 to $48.00 and set an “outperform” rating for the company in a research note on Friday, October 4th. Finally, Wells Fargo & Company reissued a “sector outperform” rating on shares of Devon Energy in a research report on Friday. Nine research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $52.53.

Devon Energy 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.