Blair William & Co. IL Has $3.36 Million Stock Holdings in Devon Energy Corporation (NYSE:DVN)

Key Points

• Blair William & Co. IL reduced its stake in Devon Energy Corporation by 33.8%, holding 89,885 shares valued at $3.36 million after selling nearly 46,000 shares in the 1st quarter.
• Analyst ratings are generally positive, with 11 analysts issuing a "hold" rating and 15 giving a "buy" rating, resulting in an average price target of $43.93 for Devon Energy stock.
• Devon Energy has declared a quarterly dividend of $0.24 per share, set to be paid on September 30th, reflecting a yield of 3.0% with a low dividend payout ratio of 21.52%.

Blair William & Co. IL reduced its stake in Devon Energy Corporation (NYSE:DVN - Free Report) by 33.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 89,885 shares of the energy company's stock after selling 45,986 shares during the period. Blair William & Co. IL's holdings in Devon Energy were worth $3,362,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Cantor Fitzgerald Investment Advisors L.P. increased its stake in shares of Devon Energy by 10.8% during the first quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 272,990 shares of the energy company's stock worth $10,210,000 after purchasing an additional 26,519 shares during the period. Merit Financial Group LLC raised its stake in Devon Energy by 209.5% in the 1st quarter. Merit Financial Group LLC now owns 22,679 shares of the energy company's stock worth $848,000 after purchasing an additional 15,351 shares in the last quarter. Autumn Glory Partners LLC increased its holdings in shares of Devon Energy by 93.6% during the first quarter. Autumn Glory Partners LLC now owns 41,368 shares of the energy company's stock worth $1,547,000 after purchasing an additional 20,000 shares during the period. Intact Investment Management Inc. acquired a new stake in Devon Energy during the first quarter worth approximately $2,524,000. Finally, Praxis Investment Management Inc. lifted its position in shares of Devon Energy by 41.8% during the 1st quarter. Praxis Investment Management Inc. now owns 47,000 shares of the energy company's stock valued at $1,758,000 after acquiring an additional 13,860 shares during the period. 69.72% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

DVN has been the topic of several analyst reports. Raymond James Financial reiterated an "outperform" rating and set a $45.00 price target (up previously from $40.00) on shares of Devon Energy in a research report on Tuesday, July 22nd. Wolfe Research boosted their price target on Devon Energy from $47.00 to $49.00 and gave the stock an "outperform" rating in a report on Monday, June 23rd. Susquehanna reduced their price objective on Devon Energy from $52.00 to $41.00 and set a "positive" rating on the stock in a research note on Tuesday, April 22nd. Wells Fargo & Company lifted their target price on Devon Energy from $41.00 to $42.00 and gave the company an "overweight" rating in a research report on Thursday, July 3rd. Finally, Bank of America dropped their target price on shares of Devon Energy from $52.00 to $42.00 and set a "buy" rating for the company in a report on Tuesday, April 29th. Eleven research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $43.93.

Devon Energy Stock Performance

NYSE DVN opened at $32.34 on Friday. The company has a market capitalization of $20.76 billion, a price-to-earnings ratio of 7.25, a PEG ratio of 1.84 and a beta of 1.07. The company has a quick ratio of 0.99, a current ratio of 1.22 and a debt-to-equity ratio of 0.55. Devon Energy Corporation has a twelve month low of $25.89 and a twelve month high of $46.04. The stock has a fifty day simple moving average of $33.01 and a 200 day simple moving average of $33.26.

Devon Energy (NYSE:DVN - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The energy company reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.01. Devon Energy had a return on equity of 18.59% and a net margin of 16.57%. The company had revenue of $4.28 billion during the quarter, compared to analysts' expectations of $4.01 billion. During the same quarter in the prior year, the firm posted $1.41 earnings per share. The business's quarterly revenue was up 9.4% on a year-over-year basis. Sell-side analysts expect that Devon Energy Corporation will post 4.85 EPS for the current year.

Devon Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be issued a dividend of $0.24 per share. The ex-dividend date is Monday, September 15th. This represents a $0.96 annualized dividend and a yield of 3.0%. Devon Energy's dividend payout ratio (DPR) is presently 21.52%.

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.

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