Wilbanks Smith & Thomas Asset Management LLC Sells 15,202 Shares of Devon Energy Co. (NYSE:DVN)

Wilbanks Smith & Thomas Asset Management LLC lowered its position in shares of Devon Energy Co. (NYSE:DVN - Free Report) by 50.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 14,858 shares of the energy company's stock after selling 15,202 shares during the quarter. Wilbanks Smith & Thomas Asset Management LLC's holdings in Devon Energy were worth $673,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of DVN. Lord Abbett & CO. LLC lifted its stake in Devon Energy by 15.5% in the 3rd quarter. Lord Abbett & CO. LLC now owns 549,710 shares of the energy company's stock valued at $26,221,000 after acquiring an additional 73,570 shares in the last quarter. Nordea Investment Management AB boosted its holdings in shares of Devon Energy by 2.7% in the 3rd quarter. Nordea Investment Management AB now owns 373,757 shares of the energy company's stock valued at $17,974,000 after buying an additional 9,823 shares during the last quarter. Atria Investments Inc lifted its stake in Devon Energy by 64.4% in the 3rd quarter. Atria Investments Inc now owns 54,639 shares of the energy company's stock valued at $2,606,000 after purchasing an additional 21,400 shares during the last quarter. Pearl River Capital LLC grew its stake in Devon Energy by 367.7% in the 3rd quarter. Pearl River Capital LLC now owns 75,042 shares of the energy company's stock valued at $3,580,000 after buying an additional 58,997 shares during the last quarter. Finally, Argent Trust Co lifted its holdings in shares of Devon Energy by 22.1% during the third quarter. Argent Trust Co now owns 86,795 shares of the energy company's stock worth $4,140,000 after buying an additional 15,715 shares in the last quarter. Institutional investors own 69.72% of the company's stock.

Devon Energy Trading Up 0.4 %

NYSE DVN traded up $0.19 during trading hours on Friday, reaching $50.54. The company's stock had a trading volume of 8,953,157 shares, compared to its average volume of 7,901,040. The firm has a fifty day simple moving average of $49.48 and a 200-day simple moving average of $46.30. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.07 and a quick ratio of 0.99. Devon Energy Co. has a 52 week low of $40.47 and a 52 week high of $55.09. The stock has a market cap of $32.09 billion, a P/E ratio of 9.69 and a beta of 2.16.

Devon Energy (NYSE:DVN - Get Free Report) last issued its quarterly earnings results on Wednesday, May 1st. The energy company reported $1.16 EPS for the quarter, topping analysts' consensus estimates of $1.10 by $0.06. The company had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.64 billion. Devon Energy had a net margin of 22.27% and a return on equity of 29.41%. Devon Energy's revenue was down 5.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.46 earnings per share. Equities analysts forecast that Devon Energy Co. will post 5.28 earnings per share for the current fiscal year.

Devon Energy Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.74%. The ex-dividend date is Friday, June 14th. Devon Energy's payout ratio is presently 16.79%.

Wall Street Analysts Forecast Growth

DVN has been the topic of several analyst reports. Citigroup increased their target price on Devon Energy from $55.00 to $62.00 and gave the stock a "buy" rating in a report on Thursday, April 11th. Wells Fargo & Company raised shares of Devon Energy from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $46.00 to $59.00 in a report on Monday, April 1st. UBS Group upped their price target on shares of Devon Energy from $48.00 to $57.00 and gave the stock a "neutral" rating in a report on Wednesday, April 10th. Royal Bank of Canada reissued a "sector perform" rating and issued a $55.00 price objective on shares of Devon Energy in a research note on Thursday, March 7th. Finally, Morgan Stanley upped their target price on Devon Energy from $49.00 to $50.00 and gave the stock an "overweight" rating in a research note on Monday, April 15th. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $58.44.

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.