Prime Capital Investment Advisors LLC Sells 14,616 Shares of Devon Energy Co. (NYSE:DVN)

Prime Capital Investment Advisors LLC lessened its position in shares of Devon Energy Co. (NYSE:DVN) by 8.4% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 159,489 shares of the energy company’s stock after selling 14,616 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Devon Energy were worth $6,239,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Annex Advisory Services LLC increased its position in Devon Energy by 0.8% in the second quarter. Annex Advisory Services LLC now owns 27,651 shares of the energy company’s stock worth $1,311,000 after buying an additional 223 shares in the last quarter. Versant Capital Management Inc lifted its stake in shares of Devon Energy by 30.4% during the 2nd quarter. Versant Capital Management Inc now owns 970 shares of the energy company’s stock valued at $46,000 after buying an additional 226 shares in the last quarter. Archer Investment Corp increased its stake in Devon Energy by 2.8% in the 2nd quarter. Archer Investment Corp now owns 8,535 shares of the energy company’s stock worth $405,000 after buying an additional 235 shares in the last quarter. Citizens Financial Group Inc. RI lifted its position in shares of Devon Energy by 2.6% in the first quarter. Citizens Financial Group Inc. RI now owns 9,480 shares of the energy company’s stock valued at $476,000 after acquiring an additional 236 shares in the last quarter. Finally, Institute for Wealth Management LLC. boosted its stake in shares of Devon Energy by 4.0% in the second quarter. Institute for Wealth Management LLC. now owns 6,234 shares of the energy company’s stock worth $296,000 after acquiring an additional 237 shares during the period. 69.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

DVN has been the topic of a number of research analyst reports. Susquehanna lowered their price target on Devon Energy from $63.00 to $62.00 and set a “positive” rating on the stock in a report on Friday, October 18th. StockNews.com lowered shares of Devon Energy from a “hold” rating to a “sell” rating in a research report on Thursday, November 7th. Benchmark reiterated a “hold” rating on shares of Devon Energy in a report on Tuesday, October 15th. JPMorgan Chase & Co. dropped their price objective on shares of Devon Energy from $64.00 to $51.00 and set an “overweight” rating for the company in a report on Thursday, September 12th. Finally, Mizuho reduced their target price on Devon Energy from $53.00 to $51.00 and set an “outperform” rating on the stock in a report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $51.80.

Devon Energy Price Performance

Shares of DVN opened at $38.33 on Wednesday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.11. The company has a 50 day moving average price of $40.27 and a 200-day moving average price of $44.59. Devon Energy Co. has a fifty-two week low of $37.76 and a fifty-two week high of $55.09. The stock has a market capitalization of $25.18 billion, a PE ratio of 7.11, a PEG ratio of 1.21 and a beta of 2.03.

Devon Energy (NYSE:DVN) last released its quarterly earnings results 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 business had revenue of $4.02 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. Equities analysts predict that Devon Energy Co. will post 4.86 earnings per share for the current fiscal year.

Devon Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date of this dividend is Friday, December 13th. Devon Energy’s dividend payout ratio (DPR) is presently 16.33%.

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.