Devon Energy Co. (NYSE:DVN) Shares Sold by GTS Securities LLC

GTS Securities LLC lowered its stake in shares of Devon Energy Co. (NYSE:DVN - Free Report) by 86.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 35,970 shares of the energy company's stock after selling 222,209 shares during the period. GTS Securities LLC's holdings in Devon Energy were worth $1,177,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Hurley Capital LLC acquired a new stake in shares of Devon Energy during the fourth quarter valued at $26,000. Accredited Wealth Management LLC acquired a new stake in Devon Energy in the 4th quarter worth about $28,000. Cromwell Holdings LLC increased its position in Devon Energy by 98.0% during the fourth quarter. Cromwell Holdings LLC now owns 1,208 shares of the energy company's stock worth $40,000 after purchasing an additional 598 shares during the last quarter. Sierra Ocean LLC purchased a new position in Devon Energy during the fourth quarter worth approximately $43,000. Finally, Thompson Investment Management Inc. grew its stake in shares of Devon Energy by 60.0% during the 4th quarter. Thompson Investment Management Inc. now owns 1,600 shares of the energy company's stock valued at $52,000 after buying an additional 600 shares during the period. Institutional investors and hedge funds own 69.72% of the company's stock.

Analysts Set New Price Targets

DVN has been the subject of a number of research reports. Wells Fargo & Company boosted their target price on Devon Energy from $44.00 to $46.00 and gave the stock an "overweight" rating in a report on Wednesday, May 14th. Morgan Stanley boosted their target price on Devon Energy from $42.00 to $44.00 and gave the stock an "overweight" rating in a report on Friday, May 23rd. Truist Financial boosted their target price on Devon Energy from $42.00 to $44.00 and gave the stock a "hold" rating in a report on Thursday, February 20th. Cowen cut Devon Energy to a "hold" rating and decreased their target price for the stock from $46.00 to $45.00 in a report on Tuesday, February 18th. Finally, Raymond James set a $40.00 target price on Devon Energy in a report on Monday, April 21st. Ten equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $43.71.

Devon Energy Stock Performance

DVN traded down $0.44 on Wednesday, hitting $30.91. 6,971,398 shares of the company's stock were exchanged, compared to its average volume of 8,660,683. The company has a current ratio of 1.04, a quick ratio of 1.01 and a debt-to-equity ratio of 0.57. The stock has a fifty day moving average of $32.01 and a two-hundred day moving average of $34.18. Devon Energy Co. has a twelve month low of $25.89 and a twelve month high of $49.35. The firm has a market cap of $19.85 billion, a PE ratio of 6.78, a P/E/G ratio of 1.20 and a beta of 1.00.

Devon Energy (NYSE:DVN - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The energy company reported $1.21 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.27 by ($0.06). Devon Energy had a net margin of 18.14% and a return on equity of 22.52%. The company had revenue of $4.45 billion for the quarter, compared to analyst estimates of $4.31 billion. During the same quarter in the prior year, the firm earned $1.16 EPS. The company's revenue for the quarter was up 23.8% compared to the same quarter last year. On average, research analysts anticipate that Devon Energy Co. will post 4.85 earnings per share for the current fiscal 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 given a dividend of $0.24 per share. The ex-dividend date is Friday, June 13th. This represents a $0.96 dividend on an annualized basis and a yield of 3.11%. Devon Energy's dividend payout ratio is currently 21.87%.

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.