Sanctuary Advisors LLC Decreases Stock Position in Devon Energy Co. (NYSE:DVN)

Sanctuary Advisors LLC trimmed its position in shares of Devon Energy Co. (NYSE:DVN) by 6.3% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 378,341 shares of the energy company’s stock after selling 25,427 shares during the quarter. Sanctuary Advisors LLC owned 0.06% of Devon Energy worth $14,926,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of DVN. Archer Investment Corp boosted its stake in shares of Devon Energy by 2.8% during the 2nd quarter. Archer Investment Corp now owns 8,535 shares of the energy company’s stock worth $405,000 after purchasing an additional 235 shares during the period. Institute for Wealth Management LLC. lifted its stake in 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 purchasing an additional 237 shares during the last quarter. SkyOak Wealth LLC boosted its position in shares of Devon Energy by 4.1% during the second quarter. SkyOak Wealth LLC now owns 6,297 shares of the energy company’s stock valued at $298,000 after buying an additional 250 shares during the period. SeaCrest Wealth Management LLC grew its stake in shares of Devon Energy by 0.8% during the second quarter. SeaCrest Wealth Management LLC now owns 33,340 shares of the energy company’s stock valued at $1,580,000 after buying an additional 252 shares during the last quarter. Finally, Riversedge Advisors LLC raised its holdings in shares of Devon Energy by 3.6% in the third quarter. Riversedge Advisors LLC now owns 7,336 shares of the energy company’s stock worth $287,000 after buying an additional 253 shares during the period. Institutional investors own 69.72% of the company’s stock.

Devon Energy Price Performance

DVN opened at $33.86 on Friday. The firm has a market capitalization of $22.24 billion, a PE ratio of 6.28, a price-to-earnings-growth ratio of 1.10 and a beta of 1.99. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.11 and a quick ratio of 1.01. The business’s 50-day moving average is $38.75 and its two-hundred day moving average is $42.62. Devon Energy Co. has a 1 year low of $33.39 and a 1 year high of $55.09.

Devon Energy (NYSE:DVN) last issued its quarterly earnings data on Tuesday, November 5th. The energy company reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.01. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%. The firm had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $3.72 billion. During the same quarter in the previous year, the firm earned $1.65 EPS. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. Research analysts anticipate that Devon Energy Co. will post 4.79 earnings per share for the current fiscal year.

Devon Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be issued a dividend of $0.22 per share. The ex-dividend date is Friday, December 13th. This represents a $0.88 annualized dividend and a dividend yield of 2.60%. Devon Energy’s dividend payout ratio is presently 16.33%.

Analysts Set New Price Targets

A number of research firms recently issued reports on DVN. Barclays dropped their price objective on Devon Energy from $55.00 to $46.00 and set an “equal weight” rating for the company in a report on Thursday, October 3rd. UBS Group lowered their target price on shares of Devon Energy from $53.00 to $47.00 and set a “neutral” rating for the company in a research note on Wednesday, September 18th. BMO Capital Markets reduced their price target on shares of Devon Energy from $52.00 to $48.00 and set an “outperform” rating on the stock in a research note on Friday, October 4th. StockNews.com cut shares of Devon Energy from a “hold” rating to a “sell” rating in a research report on Thursday, November 7th. Finally, Raymond James reduced their target price on shares of Devon Energy from $58.00 to $51.00 in a research report on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $50.75.

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.