Stonebrook Private Inc. Reduces Stock Holdings in Devon Energy Co. (NYSE:DVN)

Stonebrook Private Inc. lessened its holdings in shares of Devon Energy Co. (NYSE:DVN - Free Report) by 80.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,576 shares of the energy company's stock after selling 42,856 shares during the quarter. Stonebrook Private Inc.'s holdings in Devon Energy were worth $346,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Hurley Capital LLC acquired a new position in shares of Devon Energy during the 4th quarter valued at about $26,000. Accredited Wealth Management LLC acquired a new position in shares of Devon Energy during the 4th quarter valued at about $28,000. Cromwell Holdings LLC boosted its position in shares of Devon Energy by 98.0% during the 4th quarter. Cromwell Holdings LLC now owns 1,208 shares of the energy company's stock valued at $40,000 after acquiring an additional 598 shares during the last quarter. Sierra Ocean LLC acquired a new position in shares of Devon Energy during the 4th quarter valued at about $43,000. Finally, Endeavor Private Wealth Inc. acquired a new position in shares of Devon Energy during the 4th quarter valued at about $52,000. Institutional investors and hedge funds own 69.72% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on DVN. Cowen cut shares of Devon Energy to a "hold" rating and lowered their price target for the company from $46.00 to $45.00 in a research report on Tuesday, February 18th. Truist Financial raised their price target on Devon Energy from $42.00 to $44.00 and gave the company a "hold" rating in a research note on Thursday, February 20th. Williams Trading set a $50.00 price objective on Devon Energy in a report on Wednesday, March 5th. Mizuho decreased their price objective on Devon Energy from $46.00 to $43.00 and set an "outperform" rating for the company in a report on Tuesday, May 13th. Finally, Raymond James set a $40.00 price target on Devon Energy in a report on Monday, April 21st. Ten analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, Devon Energy currently has an average rating of "Moderate Buy" and an average price target of $43.83.

Devon Energy Trading Down 2.0%

Shares of Devon Energy stock traded down $0.64 during trading hours on Wednesday, reaching $31.54. The stock had a trading volume of 8,369,689 shares, compared to its average volume of 8,624,023. The firm has a market capitalization of $20.25 billion, a price-to-earnings ratio of 6.92, a P/E/G ratio of 1.20 and a beta of 1.00. Devon Energy Co. has a 1 year low of $25.89 and a 1 year high of $49.39. 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 firm has a 50 day simple moving average of $32.43 and a two-hundred day simple moving average of $34.46.

Devon Energy (NYSE:DVN - Get Free Report) last posted its earnings results 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). The business had revenue of $4.45 billion for the quarter, compared to analyst estimates of $4.31 billion. Devon Energy had a return on equity of 22.52% and a net margin of 18.14%. The firm's revenue for the quarter was up 23.8% compared to the same quarter last year. During the same period last year, the company posted $1.16 EPS. As a group, equities research analysts anticipate that Devon Energy Co. will post 4.85 earnings per share for the current year.

Devon Energy Announces Dividend

The firm 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 annualized dividend and a dividend yield of 3.04%. The ex-dividend date of this dividend is Friday, June 13th. Devon Energy's 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.