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

IVC Wealth Advisors LLC decreased its stake in shares of Devon Energy Co. (NYSE:DVN) by 21.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,429 shares of the energy company’s stock after selling 3,343 shares during the quarter. IVC Wealth Advisors LLC’s holdings in Devon Energy were worth $486,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. William B. Walkup & Associates Inc. acquired a new position in shares of Devon Energy during the second quarter worth about $1,026,000. Tradewinds Capital Management LLC purchased a new position in Devon Energy in the first quarter worth approximately $30,000. Gordian Capital Singapore Pte Ltd purchased a new position in Devon Energy in the second quarter worth approximately $711,000. CWM LLC grew its holdings in Devon Energy by 73.4% during the 3rd quarter. CWM LLC now owns 38,969 shares of the energy company’s stock worth $1,524,000 after acquiring an additional 16,490 shares in the last quarter. Finally, Ritholtz Wealth Management increased its position in shares of Devon Energy by 212.7% in the 3rd quarter. Ritholtz Wealth Management now owns 32,226 shares of the energy company’s stock valued at $1,261,000 after purchasing an additional 21,920 shares during the last quarter. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Sanford C. Bernstein cut their price target on Devon Energy from $48.00 to $43.00 and set a “market perform” rating on the stock in a research note on Wednesday, July 17th. Wolfe Research started coverage on Devon Energy in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Evercore ISI decreased their target price on 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. Truist Financial dropped their price target on shares of Devon Energy from $60.00 to $49.00 and set a “buy” rating on the stock in a research note on Monday, September 30th. Finally, Wells Fargo & Company reissued a “sector outperform” rating on shares of Devon Energy in a report on Friday, October 18th. Nine analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $52.53.

Devon Energy Stock Down 0.8 %

DVN opened at $39.19 on Monday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.03 and a current ratio of 1.11. The company has a market cap of $24.54 billion, a price-to-earnings ratio of 7.11, a PEG ratio of 1.22 and a beta of 2.02. Devon Energy Co. has a one year low of $37.76 and a one year high of $55.09. The business’s fifty day moving average is $41.62 and its two-hundred day moving average is $45.74.

Devon Energy (NYSE:DVN) last issued its quarterly earnings data on Tuesday, August 6th. The energy company reported $1.41 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.15. Devon Energy had a net margin of 22.60% and a return on equity of 29.14%. The firm had revenue of $3.92 billion for the quarter, compared to analysts’ expectations of $3.90 billion. During the same period in the prior year, the company earned $1.18 EPS. The firm’s revenue was up 13.4% on a year-over-year basis. Analysts anticipate that Devon Energy Co. will post 4.98 EPS for the current fiscal year.

Devon Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were issued a $0.22 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.25%. Devon Energy’s dividend payout ratio (DPR) is 15.97%.

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.