Stratos Wealth Partners LTD. Lowers Stock Holdings in Devon Energy Corporation (NYSE:DVN)

Stratos Wealth Partners LTD. lessened its holdings in Devon Energy Corporation (NYSE:DVN - Free Report) by 24.9% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 27,415 shares of the energy company's stock after selling 9,096 shares during the quarter. Stratos Wealth Partners LTD.'s holdings in Devon Energy were worth $1,025,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Devon Energy by 7.3% during the 4th quarter. Vanguard Group Inc. now owns 80,682,170 shares of the energy company's stock valued at $2,640,727,000 after buying an additional 5,465,692 shares in the last quarter. Geode Capital Management LLC increased its holdings in Devon Energy by 6.5% during the 4th quarter. Geode Capital Management LLC now owns 16,931,275 shares of the energy company's stock worth $552,830,000 after purchasing an additional 1,038,305 shares during the period. Fuller & Thaler Asset Management Inc. lifted its holdings in shares of Devon Energy by 42.8% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 10,395,225 shares of the energy company's stock worth $340,236,000 after buying an additional 3,114,656 shares during the period. Invesco Ltd. grew its position in shares of Devon Energy by 32.8% during the 4th quarter. Invesco Ltd. now owns 9,461,719 shares of the energy company's stock worth $309,682,000 after buying an additional 2,335,473 shares in the last quarter. Finally, Northern Trust Corp increased its stake in shares of Devon Energy by 2.4% during the fourth quarter. Northern Trust Corp now owns 6,260,735 shares of the energy company's stock valued at $204,914,000 after buying an additional 144,789 shares during the period. Hedge funds and other institutional investors own 69.72% of the company's stock.

Analyst Ratings Changes

A number of research firms have commented on DVN. Citigroup cut their target price on shares of Devon Energy from $46.00 to $43.00 and set a "buy" rating on the stock in a research report on Friday, April 4th. Wells Fargo & Company raised their price objective on Devon Energy from $41.00 to $42.00 and gave the company an "overweight" rating in a research report on Thursday, July 3rd. Morgan Stanley reiterated an "overweight" rating and issued a $46.00 target price (up from $44.00) on shares of Devon Energy in a report on Tuesday. UBS Group boosted their price objective on shares of Devon Energy from $35.00 to $37.00 and gave the stock a "neutral" rating in a research note on Friday. Finally, Tudor, Pickering, Holt & Co. upped their price target on Devon Energy from $42.00 to $44.00 in a research report on Thursday, July 3rd. Eleven equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $43.48.

Devon Energy Price Performance

DVN traded down $0.88 on Tuesday, hitting $32.33. 2,932,169 shares of the company's stock were exchanged, compared to its average volume of 8,859,849. Devon Energy Corporation has a fifty-two week low of $25.89 and a fifty-two week high of $49.35. The stock has a market cap of $20.76 billion, a price-to-earnings ratio of 7.36, a P/E/G ratio of 2.53 and a beta of 1.02. The firm has a 50-day moving average price of $32.69 and a 200-day moving average price of $33.54. The company has a current ratio of 1.08, a quick ratio of 0.99 and a debt-to-equity ratio of 0.57.

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 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 analyst estimates of $4.31 billion. Devon Energy had a return on equity of 21.90% and a net margin of 16.60%. The business's quarterly revenue was up 23.8% on a year-over-year basis. During the same period last year, the firm posted $1.16 EPS. As a group, equities analysts anticipate that Devon Energy Corporation will post 4.85 earnings per share for the current year.

Devon Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.97%. The ex-dividend date was Friday, June 13th. 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.