Dynamic Advisor Solutions LLC Sells 8,627 Shares of Devon Energy Co. (NYSE:DVN)

Dynamic Advisor Solutions LLC trimmed its position in Devon Energy Co. (NYSE:DVN) by 41.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,255 shares of the energy company’s stock after selling 8,627 shares during the quarter. Dynamic Advisor Solutions LLC’s holdings in Devon Energy were worth $401,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in DVN. Capital Performance Advisors LLP purchased a new stake in shares of Devon Energy during the 3rd quarter worth approximately $35,000. Future Financial Wealth Managment LLC bought a new stake in Devon Energy in the third quarter worth $39,000. True Wealth Design LLC raised its stake in Devon Energy by 3,889.3% during the third quarter. True Wealth Design LLC now owns 1,117 shares of the energy company’s stock valued at $44,000 after purchasing an additional 1,089 shares in the last quarter. Hazlett Burt & Watson Inc. raised its stake in Devon Energy by 29.8% during the third quarter. Hazlett Burt & Watson Inc. now owns 1,263 shares of the energy company’s stock valued at $49,000 after purchasing an additional 290 shares in the last quarter. Finally, Activest Wealth Management lifted its position in Devon Energy by 60.4% during the third quarter. Activest Wealth Management now owns 1,275 shares of the energy company’s stock valued at $50,000 after purchasing an additional 480 shares during the last quarter. 69.72% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on DVN shares. Scotiabank decreased their target price on shares of Devon Energy from $60.00 to $48.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Piper Sandler lowered their price objective on Devon Energy from $57.00 to $53.00 and set an “overweight” rating for the company in a research note on Tuesday, December 17th. BMO Capital Markets cut their target price on Devon Energy from $52.00 to $48.00 and set an “outperform” rating on the stock in a research report on Friday, October 4th. Royal Bank of Canada restated a “sector perform” rating and issued a $50.00 price target on shares of Devon Energy in a research report on Friday, January 10th. Finally, StockNews.com raised shares of Devon Energy from a “sell” rating to a “hold” rating in a research note on Friday, January 3rd. Nine analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $49.41.

Devon Energy Stock Performance

Shares of Devon Energy stock opened at $35.33 on Tuesday. The company has a current ratio of 1.11, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. The stock’s fifty day moving average price is $35.20 and its 200-day moving average price is $39.78. The firm has a market cap of $23.20 billion, a P/E ratio of 6.55, a P/E/G ratio of 1.21 and a beta of 2.00. Devon Energy Co. has a 12 month low of $30.39 and a 12 month high of $55.09.

Devon Energy (NYSE:DVN) last posted its earnings results on Tuesday, November 5th. The energy company reported $1.10 EPS for the quarter, beating 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 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 firm posted $1.65 EPS. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. On average, equities research analysts expect that Devon Energy Co. will post 4.7 earnings per share for the current fiscal year.

Devon Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Friday, December 13th were issued a dividend of $0.22 per share. The ex-dividend date was Friday, December 13th. This represents a $0.88 dividend on an annualized basis and a yield of 2.49%. Devon Energy’s dividend payout ratio is currently 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.