Devon Energy Co. (NYSE:DVN) Position Trimmed by Banco Santander S.A.

Banco Santander S.A. decreased its position in shares of Devon Energy Co. (NYSE:DVN) by 19.8% in the third quarter, Holdings Channel.com reports. The firm owned 142,364 shares of the energy company’s stock after selling 35,108 shares during the period. Banco Santander S.A.’s holdings in Devon Energy were worth $5,569,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in DVN. Triad Wealth Partners LLC acquired a new position in shares of Devon Energy during the 2nd quarter worth about $27,000. 1620 Investment Advisors Inc. bought a new position in shares of Devon Energy during the 2nd quarter valued at about $34,000. PSI Advisors LLC grew its holdings in shares of Devon Energy by 66.7% during the second quarter. PSI Advisors LLC now owns 750 shares of the energy company’s stock worth $36,000 after buying an additional 300 shares in the last quarter. LRI Investments LLC acquired a new stake in Devon Energy in the 1st quarter valued at $39,000. Finally, Capital Performance Advisors LLP bought a new position in shares of Devon Energy in the third quarter valued at $35,000. Institutional investors and hedge funds own 69.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Wells Fargo & Company decreased their price target on shares of Devon Energy from $50.00 to $49.00 and set an “overweight” rating on the stock in a research note on Thursday, November 7th. Benchmark reissued a “hold” rating on shares of Devon Energy in a report on Tuesday, October 15th. TD Cowen reduced their price objective on Devon Energy from $54.00 to $46.00 and set a “hold” rating on the stock in a research report on Tuesday, November 5th. StockNews.com cut shares of Devon Energy from a “hold” rating to a “sell” rating in a research report on Thursday, November 7th. Finally, Mizuho cut their price target 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 equities research analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $51.85.

Devon Energy Trading Up 1.2 %

Shares of DVN opened at $38.77 on Friday. The company’s fifty day simple moving average is $39.94 and its 200-day simple moving average is $44.08. The company has a market cap of $25.47 billion, a P/E ratio of 7.19, a P/E/G ratio of 1.20 and a beta of 2.03. The company has a current ratio of 1.11, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. Devon Energy Co. has a twelve month low of $37.76 and a twelve month high of $55.09.

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. As a group, analysts expect that Devon Energy Co. will post 4.81 EPS for the current year.

Devon Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.27%. The ex-dividend date of this dividend is Friday, December 13th. Devon Energy’s payout ratio is 16.33%.

About Devon Energy

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.