Devon Energy Co. (NYSE:DVN) Shares Sold by Focus Partners Wealth

Focus Partners Wealth trimmed its position in shares of Devon Energy Co. (NYSE:DVN - Free Report) by 36.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 150,596 shares of the energy company's stock after selling 85,541 shares during the period. Focus Partners Wealth's holdings in Devon Energy were worth $4,934,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Hurley Capital LLC purchased a new stake in shares of Devon Energy during the 4th quarter worth approximately $26,000. Accredited Wealth Management LLC purchased a new stake in Devon Energy during the 4th quarter valued at $28,000. Cromwell Holdings LLC raised its holdings in 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 buying an additional 598 shares during the period. Sierra Ocean LLC purchased a new stake in Devon Energy during the 4th quarter valued at $43,000. Finally, Endeavor Private Wealth Inc. purchased a new stake in Devon Energy during the 4th quarter valued at $52,000. 69.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Mizuho decreased their price target on Devon Energy from $46.00 to $43.00 and set an "outperform" rating on the stock in a report on Tuesday. Susquehanna decreased their price target on Devon Energy from $52.00 to $41.00 and set a "positive" rating on the stock in a report on Tuesday, April 22nd. Wells Fargo & Company increased their target price on Devon Energy from $44.00 to $46.00 and gave the stock an "overweight" rating in a research note on Wednesday. Morgan Stanley set a $47.00 target price on Devon Energy and gave the stock an "overweight" rating in a research note on Wednesday, March 26th. Finally, The Goldman Sachs Group increased their target price on Devon Energy from $38.00 to $43.00 and gave the stock a "buy" rating in a research note on Thursday. Ten research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $43.83.

Devon Energy Stock Down 0.4%

Shares of DVN traded down $0.15 during midday trading on Friday, reaching $33.26. 6,038,896 shares of the stock were exchanged, compared to its average volume of 8,613,336. Devon Energy Co. has a 52 week low of $25.89 and a 52 week high of $50.24. 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 company's 50 day moving average is $32.50 and its two-hundred day moving average is $34.54. The company has a market capitalization of $21.35 billion, a P/E ratio of 7.29, a PEG ratio of 1.20 and a beta of 1.00.

Devon Energy (NYSE:DVN - Get Free Report) last issued 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). Devon Energy had a net margin of 18.14% and a return on equity of 22.52%. The company had revenue of $4.45 billion for the quarter, compared to the consensus estimate of $4.31 billion. During the same period in the previous year, the business earned $1.16 EPS. Devon Energy's revenue for the quarter was up 23.8% compared to the same quarter last year. On average, sell-side analysts anticipate 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 paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 2.89%. The ex-dividend date is Friday, June 13th. Devon Energy's dividend payout ratio (DPR) is presently 21.87%.

Devon Energy 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.