Devon Energy Co. (NYSE:DVN) Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its holdings in shares of Devon Energy Co. (NYSE:DVN - Free Report) by 7.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,292,560 shares of the energy company's stock after selling 501,050 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.96% of Devon Energy worth $205,955,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Hurley Capital LLC purchased a new position in Devon Energy during the 4th quarter worth $26,000. Accredited Wealth Management LLC acquired a new stake in Devon Energy in the fourth quarter worth about $28,000. Cromwell Holdings LLC grew its stake in shares of 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 acquiring an additional 598 shares during the last quarter. Sierra Ocean LLC acquired a new position in shares of Devon Energy during the fourth quarter valued at about $43,000. Finally, Endeavor Private Wealth Inc. purchased a new position in shares of Devon Energy in the 4th quarter valued at approximately $52,000. Hedge funds and other institutional investors own 69.72% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. The Goldman Sachs Group boosted their target price on shares of Devon Energy from $38.00 to $43.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. Bank of America lowered their price objective on shares of Devon Energy from $52.00 to $42.00 and set a "buy" rating for the company in a research note on Tuesday, April 29th. Benchmark restated a "buy" rating and issued a $44.00 target price on shares of Devon Energy in a research note on Thursday, February 20th. Piper Sandler lowered their price target on Devon Energy from $56.00 to $53.00 and set an "overweight" rating for the company in a research report on Tuesday, May 13th. Finally, JPMorgan Chase & Co. cut their price objective on Devon Energy from $48.00 to $42.00 and set a "neutral" rating on the stock in a report on Thursday, March 13th. Ten analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $43.71.

Devon Energy Stock Performance

DVN stock traded up $0.01 during midday trading on Friday, hitting $31.15. 7,037,546 shares of the stock traded hands, compared to its average volume of 8,659,319. Devon Energy Co. has a 1-year low of $25.89 and a 1-year high of $49.35. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 1.01. The stock's fifty day simple moving average is $32.20 and its 200-day simple moving average is $34.26. The firm has a market cap of $20.00 billion, a P/E ratio of 6.83, a PEG ratio of 1.20 and a beta of 1.00.

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 the consensus estimate of $1.27 by ($0.06). Devon Energy had a return on equity of 22.52% and a net margin of 18.14%. The firm had revenue of $4.45 billion for the quarter, compared to analysts' expectations of $4.31 billion. During the same period in the previous year, the company earned $1.16 earnings per share. The company's revenue was up 23.8% compared to the same quarter last year. On average, analysts expect that Devon Energy Co. will post 4.85 earnings per share for the current year.

Devon Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.96 dividend on an annualized basis and a yield of 3.08%. Devon Energy's dividend payout ratio is currently 21.87%.

Devon Energy Company 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.