Stifel Financial Corp Sells 76,370 Shares of Devon Energy Co. (NYSE:DVN)

Stifel Financial Corp decreased its position in shares of Devon Energy Co. (NYSE:DVN - Free Report) by 7.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 915,906 shares of the energy company's stock after selling 76,370 shares during the quarter. Stifel Financial Corp owned 0.14% of Devon Energy worth $29,978,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Transce3nd LLC acquired a new position in shares of Devon Energy during the 4th quarter worth $93,000. Trajan Wealth LLC raised its stake in Devon Energy by 22.6% during the fourth quarter. Trajan Wealth LLC now owns 7,158 shares of the energy company's stock worth $234,000 after acquiring an additional 1,319 shares in the last quarter. MML Investors Services LLC lifted its holdings in shares of Devon Energy by 144.3% in the fourth quarter. MML Investors Services LLC now owns 43,122 shares of the energy company's stock worth $1,411,000 after acquiring an additional 25,473 shares during the last quarter. MetLife Investment Management LLC increased its position in Devon Energy by 6.4% during the 4th quarter. MetLife Investment Management LLC now owns 173,267 shares of the energy company's stock worth $5,671,000 after purchasing an additional 10,389 shares in the last quarter. Finally, Norinchukin Bank The lifted its stake in Devon Energy by 17.0% in the 4th quarter. Norinchukin Bank The now owns 31,598 shares of the energy company's stock valued at $1,034,000 after purchasing an additional 4,593 shares during the last quarter. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

DVN has been the subject of several research analyst reports. Truist Financial upped their price target on shares of Devon Energy from $42.00 to $44.00 and gave the stock a "hold" rating in a report on Thursday, February 20th. Scotiabank cut their price target on Devon Energy from $45.00 to $35.00 and set a "sector outperform" rating on the stock in a research note on Friday, April 11th. Piper Sandler dropped their price objective on shares of Devon Energy from $55.00 to $54.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. UBS Group reduced their target price on shares of Devon Energy from $41.00 to $35.00 and set a "neutral" rating on the stock in a report on Monday, April 7th. Finally, Royal Bank of Canada lowered their price objective on Devon Energy from $49.00 to $40.00 and set a "sector perform" rating for the company in a research report on Monday, April 14th. Ten research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $44.83.

Devon Energy Stock Performance

DVN stock traded down $0.25 during mid-day trading on Tuesday, hitting $31.30. The company had a trading volume of 1,449,438 shares, compared to its average volume of 8,483,025. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.01 and a current ratio of 1.04. The firm has a market cap of $20.14 billion, a PE ratio of 6.85, a price-to-earnings-growth ratio of 1.20 and a beta of 1.50. Devon Energy Co. has a 12 month low of $25.89 and a 12 month high of $53.20. The stock's fifty day moving average price is $33.44 and its two-hundred day moving average price is $35.28.

Devon Energy (NYSE:DVN - Get Free Report) last posted its quarterly earnings results on Tuesday, February 18th. The energy company reported $1.16 EPS for the quarter, topping analysts' consensus estimates of $1.00 by $0.16. Devon Energy had a net margin of 18.14% and a return on equity of 22.52%. The company had revenue of $4.40 billion for the quarter, compared to analysts' expectations of $4.25 billion. On average, analysts forecast that Devon Energy Co. will post 4.85 earnings per share for the current fiscal year.

Devon Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were issued a $0.24 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.96 annualized dividend and a yield of 3.07%. This is a positive change from Devon Energy's previous quarterly dividend of $0.22. Devon Energy's dividend payout ratio (DPR) is 21.05%.

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.