Devon Energy Co. (NYSE:DVN) Stake Cut by Farther Finance Advisors LLC

Farther Finance Advisors LLC cut its position in shares of Devon Energy Co. (NYSE:DVN) by 27.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,616 shares of the energy company’s stock after selling 6,512 shares during the quarter. Farther Finance Advisors LLC’s holdings in Devon Energy were worth $577,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Sfmg LLC lifted its stake in Devon Energy by 0.5% in the third quarter. Sfmg LLC now owns 64,871 shares of the energy company’s stock valued at $2,538,000 after buying an additional 294 shares during the last quarter. Redwood Wealth Management Group LLC lifted its stake in Devon Energy by 3.9% in the fourth quarter. Redwood Wealth Management Group LLC now owns 8,141 shares of the energy company’s stock valued at $266,000 after buying an additional 309 shares during the last quarter. Cornerstone Wealth Management LLC lifted its stake in Devon Energy by 1.6% in the fourth quarter. Cornerstone Wealth Management LLC now owns 21,242 shares of the energy company’s stock valued at $695,000 after buying an additional 326 shares during the last quarter. Annex Advisory Services LLC lifted its stake in Devon Energy by 1.2% in the fourth quarter. Annex Advisory Services LLC now owns 27,021 shares of the energy company’s stock valued at $884,000 after buying an additional 327 shares during the last quarter. Finally, Fiduciary Trust Co lifted its stake in Devon Energy by 3.1% in the third quarter. Fiduciary Trust Co now owns 11,074 shares of the energy company’s stock valued at $433,000 after buying an additional 329 shares during the last quarter. 69.72% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

DVN has been the topic of a number of recent research reports. Mizuho cut their target price on Devon Energy from $51.00 to $47.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. Raymond James cut their target price on Devon Energy from $54.00 to $46.00 and set an “outperform” rating on the stock in a research note on Monday, March 10th. Cowen cut Devon Energy to a “hold” rating and cut their target price for the company from $46.00 to $45.00 in a research note on Tuesday, February 18th. Sanford C. Bernstein raised Devon Energy from a “market perform” rating to an “outperform” rating and set a $45.00 price target on the stock in a report on Wednesday, January 15th. Finally, Benchmark reissued a “buy” rating and set a $44.00 price target on shares of Devon Energy in a report on Thursday, February 20th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, Devon Energy has a consensus rating of “Moderate Buy” and an average price target of $48.54.

Devon Energy Trading Up 2.1 %

Shares of DVN opened at $34.50 on Friday. The business’s 50-day moving average price is $35.38 and its 200 day moving average price is $37.32. The stock has a market capitalization of $22.39 billion, a P/E ratio of 7.56, a P/E/G ratio of 1.20 and a beta of 1.91. Devon Energy Co. has a 1-year low of $30.39 and a 1-year high of $55.09. The company has a current ratio of 1.04, a quick ratio of 1.01 and a debt-to-equity ratio of 0.57.

Devon Energy (NYSE:DVN) last issued its quarterly earnings results on Tuesday, February 18th. The energy company reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.16. The firm had revenue of $4.40 billion for the quarter, compared to analysts’ expectations of $4.25 billion. Devon Energy had a return on equity of 22.52% and a net margin of 18.14%. Analysts expect that Devon Energy Co. will post 4.85 earnings per share for the current year.

Devon Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a $0.24 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.96 dividend on an annualized basis and a yield of 2.78%. This is a boost from Devon Energy’s previous quarterly dividend of $0.22. Devon Energy’s dividend payout ratio (DPR) is currently 21.05%.

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.