Adamsbrown Wealth Consultants LLC Has $312,000 Position in Devon Energy Co. (NYSE:DVN)

Adamsbrown Wealth Consultants LLC reduced its holdings in Devon Energy Co. (NYSE:DVN) by 3.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 9,547 shares of the energy company’s stock after selling 338 shares during the period. Adamsbrown Wealth Consultants LLC’s holdings in Devon Energy were worth $312,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its stake in shares of Devon Energy by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 15,892,970 shares of the energy company’s stock worth $619,747,000 after purchasing an additional 206,884 shares during the last quarter. EnCap Energy Capital Fund XI L.P. acquired a new position in shares of Devon Energy during the 3rd quarter worth about $461,857,000. Pacer Advisors Inc. increased its stake in shares of Devon Energy by 16.9% during the 3rd quarter. Pacer Advisors Inc. now owns 11,591,168 shares of the energy company’s stock worth $453,446,000 after purchasing an additional 1,677,652 shares during the last quarter. EnCap Partners GP LLC acquired a new position in shares of Devon Energy during the 3rd quarter worth about $408,653,000. Finally, Victory Capital Management Inc. increased its stake in shares of Devon Energy by 3.8% during the 3rd quarter. Victory Capital Management Inc. now owns 9,971,343 shares of the energy company’s stock worth $390,079,000 after purchasing an additional 361,968 shares during the last quarter. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. TD Cowen reduced their target price on shares of Devon Energy from $54.00 to $46.00 and set a “hold” rating for the company in a report on Tuesday, November 5th. Wolfe Research raised shares of Devon Energy from a “peer perform” rating to an “outperform” rating and set a $45.00 target price for the company in a report on Friday, January 3rd. Benchmark raised shares of Devon Energy from a “hold” rating to a “buy” rating and set a $44.00 target price for the company in a report on Tuesday, January 14th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $50.00 target price on shares of Devon Energy in a report on Friday, January 10th. Finally, JPMorgan Chase & Co. downgraded shares of Devon Energy from an “overweight” rating to a “neutral” rating and set a $43.00 target price for the company. in a report on Thursday, December 5th. Nine equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $49.45.

Devon Energy Trading Down 2.7 %

Shares of NYSE DVN opened at $34.09 on Monday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.11. Devon Energy Co. has a 52-week low of $30.39 and a 52-week high of $55.09. The firm has a 50 day moving average price of $34.89 and a two-hundred day moving average price of $39.41. The stock has a market cap of $22.39 billion, a P/E ratio of 6.32, a price-to-earnings-growth ratio of 1.10 and a beta of 2.00.

Devon Energy (NYSE:DVN) last announced its quarterly earnings results on Tuesday, November 5th. The energy company reported $1.10 earnings per share (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 firm had revenue of $4.02 billion during the quarter, compared to analysts’ expectations of $3.72 billion. During the same period in the prior year, the company posted $1.65 EPS. The company’s revenue was up 4.9% on a year-over-year basis. As a group, equities analysts forecast that Devon Energy Co. will post 4.68 EPS for the current year.

Devon Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Friday, December 13th were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.58%. The ex-dividend date of this dividend was 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.