Vontobel Holding Ltd. Lowers Stock Position in Devon Energy Corporation (NYSE:DVN)

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

Several other institutional investors and hedge funds also recently made changes to their positions in DVN. Assetmark Inc. grew its position in Devon Energy by 7.6% during the fourth quarter. Assetmark Inc. now owns 8,983 shares of the energy company's stock valued at $294,000 after buying an additional 635 shares during the period. M&T Bank Corp grew its position in Devon Energy by 14.5% during the fourth quarter. M&T Bank Corp now owns 39,858 shares of the energy company's stock valued at $1,304,000 after buying an additional 5,057 shares during the period. Proficio Capital Partners LLC bought a new position in Devon Energy during the fourth quarter valued at about $4,411,000. Callan Family Office LLC bought a new position in Devon Energy during the fourth quarter valued at about $334,000. Finally, PNC Financial Services Group Inc. grew its position in Devon Energy by 2.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 178,699 shares of the energy company's stock valued at $5,849,000 after buying an additional 4,204 shares during the period. Hedge funds and other institutional investors own 69.72% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Citigroup reduced their price target on shares of Devon Energy from $46.00 to $43.00 and set a "buy" rating for the company in a research report on Friday, April 4th. The Goldman Sachs Group increased their price target on shares of Devon Energy from $38.00 to $43.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. Royal Bank Of Canada reduced their price target on shares of Devon Energy from $49.00 to $40.00 and set a "sector perform" rating for the company in a research report on Monday, April 14th. Wall Street Zen upgraded shares of Devon Energy from a "sell" rating to a "hold" rating in a research report on Thursday, May 15th. Finally, Piper Sandler cut their target price on shares of Devon Energy from $56.00 to $53.00 and set an "overweight" rating for the company in a research report on Tuesday, May 13th. Ten research 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.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $43.50.

Devon Energy Price Performance

Shares of DVN stock traded down $0.28 during trading hours on Thursday, reaching $34.31. The stock had a trading volume of 1,954,084 shares, compared to its average volume of 8,844,040. The stock's fifty day simple moving average is $32.58 and its 200 day simple moving average is $33.47. 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 firm has a market capitalization of $22.03 billion, a PE ratio of 7.82, a PEG ratio of 2.62 and a beta of 1.02.

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

Devon Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date of this dividend was Friday, June 13th. 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.