Janney Montgomery Scott LLC Has $16.59 Million Holdings in Devon Energy Co. (NYSE:DVN)

Janney Montgomery Scott LLC lessened its stake in Devon Energy Co. (NYSE:DVN - Free Report) by 8.9% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 366,280 shares of the energy company's stock after selling 35,605 shares during the quarter. Janney Montgomery Scott LLC owned 0.06% of Devon Energy worth $16,593,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in DVN. Lmcg Investments LLC increased its holdings in shares of Devon Energy by 5.6% in the 4th quarter. Lmcg Investments LLC now owns 45,880 shares of the energy company's stock valued at $2,078,000 after acquiring an additional 2,448 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Devon Energy by 10.5% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 654,157 shares of the energy company's stock worth $30,621,000 after purchasing an additional 62,075 shares in the last quarter. MAS Advisors LLC lifted its position in shares of Devon Energy by 6.3% during the 4th quarter. MAS Advisors LLC now owns 9,657 shares of the energy company's stock worth $437,000 after buying an additional 571 shares during the last quarter. Avantax Advisory Services Inc. boosted its holdings in shares of Devon Energy by 1.4% in the 4th quarter. Avantax Advisory Services Inc. now owns 110,027 shares of the energy company's stock valued at $4,984,000 after buying an additional 1,471 shares in the last quarter. Finally, Gratus Capital LLC raised its stake in Devon Energy by 14.8% during the 4th quarter. Gratus Capital LLC now owns 23,297 shares of the energy company's stock worth $1,055,000 after acquiring an additional 2,997 shares in the last quarter. 69.72% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

DVN has been the topic of several research reports. Citigroup raised their price objective on Devon Energy from $55.00 to $62.00 and gave the stock a "buy" rating in a report on Thursday, April 11th. Morgan Stanley boosted their price target on Devon Energy from $49.00 to $50.00 and gave the company an "overweight" rating in a research report on Monday, April 15th. Mizuho boosted their target price on Devon Energy from $57.00 to $61.00 and gave the company a "buy" rating in a report on Monday. Wells Fargo & Company upgraded shares of Devon Energy from an "equal weight" rating to an "overweight" rating and raised their price objective for the company from $46.00 to $59.00 in a research report on Monday, April 1st. Finally, Piper Sandler upped their price target on shares of Devon Energy from $60.00 to $61.00 and gave the stock an "overweight" rating in a research note on Tuesday. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Devon Energy currently has an average rating of "Moderate Buy" and an average target price of $58.83.

Devon Energy Stock Performance

Shares of Devon Energy stock traded up $0.38 on Friday, reaching $49.62. 4,636,960 shares of the company were exchanged, compared to its average volume of 7,625,087. The firm has a market cap of $31.36 billion, a price-to-earnings ratio of 9.40 and a beta of 2.15. Devon Energy Co. has a 1-year low of $40.47 and a 1-year high of $55.09. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.97 and a current ratio of 1.04. The company's 50-day moving average is $50.63 and its two-hundred day moving average is $46.43.

Devon Energy (NYSE:DVN - Get Free Report) last posted its earnings results on Wednesday, May 1st. The energy company reported $1.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.10 by $0.06. Devon Energy had a net margin of 22.27% and a return on equity of 29.02%. The firm had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.64 billion. During the same period in the previous year, the business posted $1.46 EPS. Devon Energy's revenue was down 5.9% on a year-over-year basis. As a group, research analysts expect that Devon Energy Co. will post 5.21 earnings per share for the current fiscal year.

Devon Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date is Friday, June 14th. Devon Energy's dividend payout ratio is currently 16.79%.

Insider Activity at Devon Energy

In other Devon Energy news, EVP Tana K. Cashion sold 20,000 shares of the stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $51.04, for a total transaction of $1,020,800.00. Following the completion of the transaction, the executive vice president now directly owns 104,182 shares of the company's stock, valued at approximately $5,317,449.28. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.63% of the stock is currently owned by insiders.

About Devon Energy

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.