B. Riley Wealth Advisors Inc. Reduces Position in Devon Energy Co. (NYSE:DVN)

B. Riley Wealth Advisors Inc. reduced its holdings in shares of Devon Energy Co. (NYSE:DVN - Free Report) by 66.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 28,412 shares of the energy company's stock after selling 56,742 shares during the period. B. Riley Wealth Advisors Inc.'s holdings in Devon Energy were worth $930,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Integrated Advisors Network LLC increased its holdings in Devon Energy by 6.1% during the fourth quarter. Integrated Advisors Network LLC now owns 8,357 shares of the energy company's stock valued at $274,000 after buying an additional 482 shares during the last quarter. Michels Family Financial LLC purchased a new stake in shares of Devon Energy in the fourth quarter worth $360,000. GF Fund Management CO. LTD. purchased a new stake in shares of Devon Energy in the fourth quarter worth $6,513,000. Vise Technologies Inc. increased its stake in shares of Devon Energy by 56.8% in the fourth quarter. Vise Technologies Inc. now owns 11,806 shares of the energy company's stock worth $386,000 after purchasing an additional 4,275 shares in the last quarter. Finally, Headinvest LLC boosted its position in shares of Devon Energy by 51.7% during the fourth quarter. Headinvest LLC now owns 19,670 shares of the energy company's stock worth $644,000 after acquiring an additional 6,700 shares during the last quarter. 69.72% of the stock is owned by hedge funds and other institutional investors.

Devon Energy Trading Up 2.7%

Shares of DVN stock traded up $0.83 during trading hours on Monday, reaching $31.09. 10,155,338 shares of the stock were exchanged, compared to its average volume of 8,682,908. Devon Energy Co. has a 12-month low of $25.89 and a 12-month high of $49.35. The company's 50-day moving average price is $31.52 and its 200-day moving average price is $33.93. The firm has a market capitalization of $19.96 billion, a price-to-earnings ratio of 6.82, a price-to-earnings-growth ratio of 1.20 and a beta of 1.00. 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 - Get Free Report) last posted its quarterly earnings results 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 net margin of 18.14% and a return on equity of 22.52%. The business had revenue of $4.45 billion during the quarter, compared to the consensus estimate of $4.31 billion. During the same quarter in the prior year, the firm posted $1.16 EPS. The company's revenue for the quarter was up 23.8% compared to the same quarter last year. As a group, equities analysts anticipate that Devon Energy Co. will post 4.85 earnings per share for the current year.

Devon Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date is Friday, June 13th. Devon Energy's payout ratio is currently 21.87%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on DVN shares. Barclays upped their target price on shares of Devon Energy from $38.00 to $40.00 and gave the stock an "equal weight" rating in a research report on Wednesday, May 7th. Susquehanna dropped their target price on shares of Devon Energy from $52.00 to $41.00 and set a "positive" rating for the company in a research report on Tuesday, April 22nd. Royal Bank of Canada dropped their target price on shares of Devon Energy from $49.00 to $40.00 and set a "sector perform" rating for the company in a research report on Monday, April 14th. Citigroup dropped their target price on shares of Devon Energy from $46.00 to $43.00 and set a "buy" rating for the company in a research report on Friday, April 4th. Finally, The Goldman Sachs Group upped their target price on shares of Devon Energy from $38.00 to $43.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. Ten investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $43.71.

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.