Devon Energy Co. (NYSE:DVN) Shares Sold by IHT Wealth Management LLC

IHT Wealth Management LLC lessened its holdings in Devon Energy Co. (NYSE:DVN) by 5.2% in the 3rd quarter, Holdings Channel.com reports. The fund owned 32,787 shares of the energy company’s stock after selling 1,786 shares during the period. IHT Wealth Management LLC’s holdings in Devon Energy were worth $1,285,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. William B. Walkup & Associates Inc. purchased a new stake in Devon Energy during the 2nd quarter worth approximately $1,026,000. Bridgewater Associates LP acquired a new stake in shares of Devon Energy during the third quarter worth $9,426,000. CIBC Asset Management Inc grew its holdings in shares of Devon Energy by 6.3% during the third quarter. CIBC Asset Management Inc now owns 107,182 shares of the energy company’s stock valued at $4,193,000 after buying an additional 6,358 shares during the last quarter. Smead Capital Management Inc. increased its position in shares of Devon Energy by 3.5% in the 3rd quarter. Smead Capital Management Inc. now owns 5,879,516 shares of the energy company’s stock valued at $230,007,000 after acquiring an additional 198,193 shares during the period. Finally, Nations Financial Group Inc. IA ADV purchased a new position in Devon Energy in the 3rd quarter worth $592,000. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on DVN shares. Citigroup cut their price objective on Devon Energy from $55.00 to $48.00 and set a “buy” rating on the stock in a report on Tuesday, November 26th. Benchmark reiterated a “hold” rating on shares of Devon Energy in a report on Tuesday, October 15th. Evercore ISI decreased their price objective on shares of Devon Energy from $55.00 to $50.00 and set an “in-line” rating for the company in a research note on Monday, September 30th. Jefferies Financial Group initiated coverage on shares of Devon Energy in a research note on Thursday, October 3rd. They issued a “hold” rating and a $45.00 price objective on the stock. Finally, Morgan Stanley decreased their target price on shares of Devon Energy from $55.00 to $51.00 and set an “overweight” rating for the company in a research report on Monday, September 16th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $50.75.

Devon Energy Stock Down 0.9 %

DVN opened at $35.95 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.11 and a debt-to-equity ratio of 0.61. Devon Energy Co. has a twelve month low of $35.92 and a twelve month high of $55.09. The company has a market cap of $23.62 billion, a PE ratio of 6.67, a price-to-earnings-growth ratio of 1.19 and a beta of 1.99. The company has a 50-day moving average price of $39.48 and a 200 day moving average price of $43.26.

Devon Energy (NYSE:DVN) last released its earnings results on Tuesday, November 5th. The energy company reported $1.10 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.01. Devon Energy had a return on equity of 24.73% and a net margin of 21.71%. The business had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $3.72 billion. During the same quarter last year, the business posted $1.65 earnings per share. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. Sell-side analysts expect that Devon Energy Co. will post 4.79 earnings per share for the current fiscal year.

Devon Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date is Friday, December 13th. Devon Energy’s dividend payout ratio (DPR) is 16.33%.

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.