Vontobel Holding Ltd. Sells 28,460 Shares of Devon Energy Corporation (NYSE:DVN)

Vontobel Holding Ltd. cut its position in shares of Devon Energy Corporation (NYSE:DVN - Free Report) by 83.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,835 shares of the energy company's stock after selling 28,460 shares during the quarter. Vontobel Holding Ltd.'s holdings in Devon Energy were worth $218,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Hurley Capital LLC purchased a new position in Devon Energy during the fourth quarter worth about $26,000. Rakuten Securities Inc. grew its stake in shares of Devon Energy by 94.6% in the 1st quarter. Rakuten Securities Inc. now owns 833 shares of the energy company's stock worth $31,000 after buying an additional 405 shares during the last quarter. Accredited Wealth Management LLC bought a new stake in shares of Devon Energy during the fourth quarter valued at approximately $28,000. Salem Investment Counselors Inc. grew its stake in shares of Devon Energy by 46.7% during the 1st quarter. Salem Investment Counselors Inc. now owns 1,257 shares of the energy company's stock valued at $47,000 after purchasing an additional 400 shares during the period. Finally, Sound Income Strategies LLC raised its position in Devon Energy by 100.1% in the first quarter. Sound Income Strategies LLC now owns 1,911 shares of the energy company's stock worth $71,000 after acquiring an additional 956 shares during the period. 69.72% of the stock is owned by hedge funds and other institutional investors.

Devon Energy Trading Down 0.9%

Shares of DVN stock traded down $0.31 on Wednesday, reaching $34.61. The company had a trading volume of 6,284,002 shares, compared to its average volume of 8,860,417. 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 Corporation has a 12 month low of $25.89 and a 12 month high of $49.35. The company has a 50-day moving average of $32.50 and a 200-day moving average of $33.46. The stock has a market cap of $22.22 billion, a PE ratio of 7.88, a PEG ratio of 2.45 and a beta of 1.02.

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

Devon Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were paid a dividend of $0.24 per share. The ex-dividend date was Friday, June 13th. This represents a $0.96 annualized dividend and a yield of 2.77%. Devon Energy's dividend payout ratio is currently 21.87%.

Wall Street Analysts Forecast Growth

DVN has been the subject of a number of research reports. Barclays upped their target price on shares of Devon Energy from $38.00 to $40.00 and gave the stock an "equal weight" rating in a research report on Wednesday, May 7th. Piper Sandler reduced their price objective on Devon Energy from $56.00 to $53.00 and set an "overweight" rating on the stock in a report on Tuesday, May 13th. Mizuho dropped their price target on Devon Energy from $46.00 to $43.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 13th. UBS Group reduced their price target on Devon Energy from $41.00 to $35.00 and set a "neutral" rating for the company in a research report on Monday, April 7th. Finally, Susquehanna cut their target price on shares of Devon Energy from $52.00 to $41.00 and set a "positive" rating for the company in a research note on Tuesday, April 22nd. Ten investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, Devon Energy has an average rating of "Moderate Buy" and an average price target of $43.50.

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.