Perigon Wealth Management LLC Has $442,000 Stake in Devon Energy Co. (NYSE:DVN)

Perigon Wealth Management LLC lessened its holdings in Devon Energy Co. (NYSE:DVN - Free Report) by 63.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,751 shares of the energy company's stock after selling 17,290 shares during the quarter. Perigon Wealth Management LLC's holdings in Devon Energy were worth $442,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Coppell Advisory Solutions LLC bought a new position in Devon Energy during the second quarter valued at approximately $25,000. Canada Pension Plan Investment Board purchased a new stake in Devon Energy during the first quarter valued at approximately $26,000. KB Financial Partners LLC purchased a new stake in Devon Energy during the first quarter valued at approximately $26,000. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in Devon Energy during the third quarter valued at approximately $27,000. Finally, Sound Income Strategies LLC increased its holdings in Devon Energy by 60.7% during the fourth quarter. Sound Income Strategies LLC now owns 675 shares of the energy company's stock valued at $31,000 after buying an additional 255 shares during the last quarter. Hedge funds and other institutional investors own 69.72% of the company's stock.

Wall Street Analyst Weigh In

DVN has been the subject of a number of analyst reports. Wells Fargo & Company raised shares of Devon Energy from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $46.00 to $59.00 in a research note on Monday, April 1st. Royal Bank of Canada restated a "sector perform" rating and issued a $55.00 target price on shares of Devon Energy in a report on Thursday, March 7th. Truist Financial lowered their target price on shares of Devon Energy from $69.00 to $66.00 and set a "buy" rating for the company in a report on Friday, April 5th. Stifel Nicolaus lowered their target price on shares of Devon Energy from $75.00 to $65.00 and set a "buy" rating for the company in a report on Friday, March 22nd. Finally, Raymond James decreased their price objective on shares of Devon Energy from $53.00 to $52.00 and set an "outperform" rating for the company in a report on Wednesday, January 24th. Five investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $57.89.

Devon Energy Stock Down 0.9 %

Shares of Devon Energy stock traded down $0.49 on Tuesday, reaching $52.19. The stock had a trading volume of 6,989,598 shares, compared to its average volume of 8,108,337. The company has a 50 day moving average price of $47.30 and a 200 day moving average price of $45.78. The company has a quick ratio of 0.99, a current ratio of 1.07 and a debt-to-equity ratio of 0.46. Devon Energy Co. has a 1 year low of $40.47 and a 1 year high of $56.19. The stock has a market capitalization of $33.14 billion, a P/E ratio of 8.95 and a beta of 2.19.

Devon Energy (NYSE:DVN - Get Free Report) last released its earnings results on Tuesday, February 27th. The energy company reported $1.41 EPS for the quarter, topping analysts' consensus estimates of $1.39 by $0.02. The company had revenue of $4.15 billion during the quarter, compared to analysts' expectations of $3.88 billion. Devon Energy had a net margin of 24.56% and a return on equity of 31.72%. Devon Energy's revenue for the quarter was down 3.6% on a year-over-year basis. During the same period last year, the business earned $1.66 EPS. As a group, equities research analysts forecast that Devon Energy Co. will post 5.02 EPS for the current year.

Devon Energy Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 3.37%. The ex-dividend date was Thursday, March 14th. Devon Energy's dividend payout ratio (DPR) is presently 15.09%.

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.