Sigma Planning Corp Sells 28,992 Shares of Devon Energy Co. (NYSE:DVN)

Sigma Planning Corp reduced its stake in Devon Energy Co. (NYSE:DVN - Free Report) by 60.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,845 shares of the energy company's stock after selling 28,992 shares during the period. Sigma Planning Corp's holdings in Devon Energy were worth $854,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Ritholtz Wealth Management bought a new stake in Devon Energy during the third quarter valued at $368,000. Avior Wealth Management LLC boosted its stake in Devon Energy by 4.9% during the third quarter. Avior Wealth Management LLC now owns 4,406 shares of the energy company's stock valued at $210,000 after buying an additional 207 shares during the period. Royal Fund Management LLC boosted its stake in Devon Energy by 19.8% during the third quarter. Royal Fund Management LLC now owns 28,715 shares of the energy company's stock valued at $1,370,000 after buying an additional 4,738 shares during the period. Private Trust Co. NA boosted its stake in Devon Energy by 1.6% during the third quarter. Private Trust Co. NA now owns 18,020 shares of the energy company's stock valued at $860,000 after buying an additional 291 shares during the period. Finally, Redwood Wealth Management Group LLC boosted its stake in Devon Energy by 6.7% during the third quarter. Redwood Wealth Management Group LLC now owns 4,726 shares of the energy company's stock valued at $225,000 after buying an additional 298 shares during the period. 69.72% of the stock is owned by institutional investors.

Devon Energy Trading Down 0.9 %

NYSE:DVN traded down $0.48 during mid-day trading on Wednesday, reaching $52.09. 6,462,575 shares of the company's stock traded hands, compared to its average volume of 7,914,438. Devon Energy Co. has a 12-month low of $40.47 and a 12-month high of $55.09. The firm has a market capitalization of $33.08 billion, a price-to-earnings ratio of 8.93 and a beta of 2.19. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.07 and a quick ratio of 0.99. The company has a 50 day moving average price of $48.51 and a 200-day moving average price of $46.09.

Devon Energy (NYSE:DVN - Get Free Report) last announced its quarterly earnings results on Tuesday, February 27th. The energy company reported $1.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.39 by $0.02. Devon Energy had a return on equity of 31.72% and a net margin of 24.56%. The company had revenue of $4.15 billion for the quarter, compared to the consensus estimate of $3.88 billion. During the same quarter in the previous year, the business earned $1.66 EPS. Devon Energy's revenue was down 3.6% compared to the same quarter last year. On average, sell-side analysts predict that Devon Energy Co. will post 5.2 earnings per share for the current year.

Devon Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were given a dividend of $0.44 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.76 annualized dividend and a yield of 3.38%. Devon Energy's payout ratio is 15.09%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Citigroup lifted their price objective on Devon Energy from $55.00 to $62.00 and gave the company a "buy" rating in a research note on Thursday, April 11th. Stifel Nicolaus lifted their price target on Devon Energy from $65.00 to $66.00 and gave the stock a "buy" rating in a research note on Tuesday. JPMorgan Chase & Co. lifted their price target on Devon Energy from $57.00 to $62.00 and gave the stock an "overweight" rating in a research note on Monday, April 8th. Raymond James dropped their price target on Devon Energy from $53.00 to $52.00 and set an "outperform" rating for the company in a research note on Wednesday, January 24th. Finally, Scotiabank lifted their price target on Devon Energy from $53.00 to $67.00 and gave the stock a "sector outperform" rating in a research note on Thursday, April 11th. Five research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, Devon Energy presently has a consensus rating of "Moderate Buy" and a consensus target price of $58.33.

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.