Clarius Group LLC Decreases Stock Position in Devon Energy Corporation (NYSE:DVN)

Clarius Group LLC lowered its stake in shares of Devon Energy Corporation (NYSE:DVN - Free Report) by 68.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 5,433 shares of the energy company's stock after selling 11,613 shares during the quarter. Clarius Group LLC's holdings in Devon Energy were worth $203,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Rakuten Securities Inc. increased its position in shares of Devon Energy by 94.6% during the 1st quarter. Rakuten Securities Inc. now owns 833 shares of the energy company's stock valued at $31,000 after purchasing an additional 405 shares during the last quarter. Inscription Capital LLC bought a new position in Devon Energy in the 1st quarter valued at $365,000. Stephens Consulting LLC bought a new position in Devon Energy in the 1st quarter valued at $112,000. Boothe Investment Group Inc. grew its position in Devon Energy by 3.2% in the 1st quarter. Boothe Investment Group Inc. now owns 168,027 shares of the energy company's stock valued at $6,284,000 after acquiring an additional 5,169 shares during the last quarter. Finally, QRG Capital Management Inc. grew its position in Devon Energy by 54.9% in the 1st quarter. QRG Capital Management Inc. now owns 142,626 shares of the energy company's stock valued at $5,334,000 after acquiring an additional 50,528 shares during the last quarter. Institutional investors own 69.72% of the company's stock.

Devon Energy Stock Up 0.6%

Shares of NYSE DVN traded up $0.21 during mid-day trading on Friday, reaching $34.25. 14,983,947 shares of the company were exchanged, compared to its average volume of 8,798,081. The company has a quick ratio of 0.99, a current ratio of 1.08 and a debt-to-equity ratio of 0.57. The stock has a market cap of $21.99 billion, a price-to-earnings ratio of 7.80, a P/E/G ratio of 2.56 and a beta of 1.02. Devon Energy Corporation has a 1 year low of $25.89 and a 1 year high of $49.35. The firm has a 50-day moving average of $31.91 and a 200 day moving average of $33.51.

Devon Energy (NYSE:DVN - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The energy company reported $1.21 earnings per share for the quarter, missing analysts' consensus estimates of $1.27 by ($0.06). The company had revenue of $4.45 billion for the quarter, compared to analysts' expectations of $4.31 billion. Devon Energy had a return on equity of 21.90% and a net margin of 16.60%. The company's revenue for the quarter was up 23.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.16 earnings per share. On average, research analysts expect that Devon Energy Corporation will post 4.85 earnings per share for the current year.

Devon Energy Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date is Friday, June 13th. Devon Energy's dividend payout ratio (DPR) is currently 21.87%.

Analyst Upgrades and Downgrades

DVN has been the topic of several research analyst reports. Mizuho cut their price objective on Devon Energy from $46.00 to $43.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 13th. UBS Group cut their price objective on Devon Energy from $41.00 to $35.00 and set a "neutral" rating on the stock in a research report on Monday, April 7th. Wells Fargo & Company cut their price objective on Devon Energy from $46.00 to $41.00 and set an "overweight" rating on the stock in a research report on Monday, June 16th. Bank of America cut their price objective on Devon Energy from $52.00 to $42.00 and set a "buy" rating on the stock in a research report on Tuesday, April 29th. Finally, Piper Sandler cut their price objective on Devon Energy from $56.00 to $53.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 13th. Ten equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to data from MarketBeat, Devon Energy presently has a consensus rating of "Moderate Buy" and a consensus target price of $43.50.

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.