Baird Financial Group Inc. Sells 83,526 Shares of Devon Energy Co. (NYSE:DVN)

Baird Financial Group Inc. trimmed its stake in shares of Devon Energy Co. (NYSE:DVN - Free Report) by 34.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 157,058 shares of the energy company's stock after selling 83,526 shares during the quarter. Baird Financial Group Inc.'s holdings in Devon Energy were worth $5,141,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Black Maple Capital Management LP acquired a new position in Devon Energy during the fourth quarter valued at approximately $1,957,000. Benjamin Edwards Inc. raised its holdings in shares of Devon Energy by 25.1% during the 4th quarter. Benjamin Edwards Inc. now owns 19,696 shares of the energy company's stock worth $645,000 after buying an additional 3,952 shares in the last quarter. Alethea Capital Management LLC bought a new stake in shares of Devon Energy during the 4th quarter worth $274,000. Ameriprise Financial Inc. boosted its stake in Devon Energy by 13.4% in the fourth quarter. Ameriprise Financial Inc. now owns 2,777,069 shares of the energy company's stock valued at $90,811,000 after buying an additional 327,471 shares in the last quarter. Finally, American Trust Investment Advisors LLC grew its position in Devon Energy by 39.1% in the fourth quarter. American Trust Investment Advisors LLC now owns 18,835 shares of the energy company's stock valued at $616,000 after acquiring an additional 5,290 shares during the last quarter. 69.72% of the stock is owned by institutional investors and hedge funds.

Devon Energy Stock Up 2.1 %

Shares of Devon Energy stock opened at $32.60 on Friday. The firm has a market cap of $20.97 billion, a price-to-earnings ratio of 7.15, a PEG ratio of 1.20 and a beta of 1.00. The stock's 50-day moving average is $32.55 and its 200 day moving average is $34.75. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 1.01. Devon Energy Co. has a one year low of $25.89 and a one year high of $51.20.

Devon Energy (NYSE:DVN - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The energy company reported $1.21 EPS for the quarter, missing the consensus estimate of $1.27 by ($0.06). Devon Energy had a return on equity of 22.52% and a net margin of 18.14%. The company had revenue of $4.45 billion for the quarter, compared to analyst estimates of $4.31 billion. During the same period last year, the business earned $1.16 EPS. The business's quarterly revenue was up 23.8% compared to the same quarter last year. Equities research analysts anticipate that Devon Energy Co. will post 4.85 EPS for the current year.

Devon Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.96 annualized dividend and a dividend yield of 2.94%. Devon Energy's dividend payout ratio is currently 21.87%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on DVN. Cowen cut shares of Devon Energy to a "hold" rating and dropped their target price for the stock from $46.00 to $45.00 in a report on Tuesday, February 18th. Barclays raised their target price on shares of Devon Energy from $38.00 to $40.00 and gave the company an "equal weight" rating in a research report on Wednesday. Raymond James set a $40.00 price target on shares of Devon Energy in a report on Monday, April 21st. Wells Fargo & Company reduced their price objective on Devon Energy from $46.00 to $44.00 and set an "overweight" rating on the stock in a research report on Monday, April 14th. Finally, Truist Financial increased their target price on Devon Energy from $42.00 to $44.00 and gave the company a "hold" rating in a research report on Thursday, February 20th. One analyst has rated the stock with a sell rating, nine have given a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Devon Energy currently has a consensus rating of "Moderate Buy" and a consensus price target of $43.96.

Devon Energy Company 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.

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