Devon Energy Co. (NYSE:DVN) Shares Sold by Chelsea Counsel Co.

Chelsea Counsel Co. lowered its holdings in shares of Devon Energy Co. (NYSE:DVN - Free Report) by 53.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,000 shares of the energy company's stock after selling 10,400 shares during the quarter. Chelsea Counsel Co.'s holdings in Devon Energy were worth $295,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of DVN. Merit Financial Group LLC acquired a new position in shares of Devon Energy during the fourth quarter valued at approximately $240,000. Cornerstone Wealth Management LLC raised its holdings in shares of Devon Energy by 1.6% during the fourth quarter. Cornerstone Wealth Management LLC now owns 21,242 shares of the energy company's stock valued at $695,000 after acquiring an additional 326 shares during the last quarter. Exchange Traded Concepts LLC raised its holdings in shares of Devon Energy by 21.4% during the fourth quarter. Exchange Traded Concepts LLC now owns 6,216 shares of the energy company's stock valued at $203,000 after acquiring an additional 1,097 shares during the last quarter. Fifth Third Bancorp raised its holdings in shares of Devon Energy by 11.0% during the fourth quarter. Fifth Third Bancorp now owns 27,637 shares of the energy company's stock valued at $905,000 after acquiring an additional 2,748 shares during the last quarter. Finally, Geneos Wealth Management Inc. raised its holdings in shares of Devon Energy by 22.1% during the fourth quarter. Geneos Wealth Management Inc. now owns 9,466 shares of the energy company's stock valued at $310,000 after acquiring an additional 1,713 shares during the last quarter. Hedge funds and other institutional investors own 69.72% of the company's stock.

Devon Energy Trading Down 2.7%

Shares of NYSE DVN traded down $0.83 during trading on Friday, reaching $30.28. The stock had a trading volume of 18,138,161 shares, compared to its average volume of 8,703,278. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.01 and a current ratio of 1.04. The company has a market cap of $19.44 billion, a P/E ratio of 6.64, a PEG ratio of 1.20 and a beta of 1.00. Devon Energy Co. has a fifty-two week low of $25.89 and a fifty-two week high of $49.35. The business's 50-day moving average price is $31.65 and its 200-day moving average price is $34.05.

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

Devon Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 3.17%. The ex-dividend date is Friday, June 13th. Devon Energy's payout ratio is currently 21.87%.

Analyst Upgrades and Downgrades

DVN has been the subject of a number of research analyst reports. Royal Bank of Canada reduced their target price on Devon Energy from $49.00 to $40.00 and set a "sector perform" rating for the company in a report on Monday, April 14th. JPMorgan Chase & Co. reduced their target price on Devon Energy from $48.00 to $42.00 and set a "neutral" rating for the company in a report on Thursday, March 13th. UBS Group cut their price target on Devon Energy from $41.00 to $35.00 and set a "neutral" rating for the company in a report on Monday, April 7th. Truist Financial increased their price target on Devon Energy from $42.00 to $44.00 and gave the company a "hold" rating in a report on Thursday, February 20th. Finally, Wall Street Zen raised Devon Energy from a "sell" rating to a "hold" rating in a report on Thursday, May 15th. Ten analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $43.71.

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.