EagleClaw Capital Managment LLC Cuts Stock Holdings in Devon Energy Corporation $DVN

EagleClaw Capital Managment LLC reduced its stake in Devon Energy Corporation (NYSE:DVN) by 9.4% during the second quarter, HoldingsChannel reports. The firm owned 79,775 shares of the energy company’s stock after selling 8,250 shares during the period. EagleClaw Capital Managment LLC’s holdings in Devon Energy were worth $2,538,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of DVN. SVB Wealth LLC raised its position in shares of Devon Energy by 4.1% during the 1st quarter. SVB Wealth LLC now owns 8,131 shares of the energy company’s stock valued at $304,000 after buying an additional 321 shares in the last quarter. Yousif Capital Management LLC raised its position in Devon Energy by 0.4% during the second quarter. Yousif Capital Management LLC now owns 87,272 shares of the energy company’s stock valued at $2,776,000 after purchasing an additional 321 shares in the last quarter. MAS Advisors LLC lifted its stake in Devon Energy by 4.3% during the second quarter. MAS Advisors LLC now owns 7,951 shares of the energy company’s stock worth $253,000 after purchasing an additional 327 shares during the last quarter. Whittier Trust Co. boosted its holdings in shares of Devon Energy by 24.3% in the 1st quarter. Whittier Trust Co. now owns 1,927 shares of the energy company’s stock worth $72,000 after purchasing an additional 377 shares in the last quarter. Finally, Callan Family Office LLC boosted its holdings in shares of Devon Energy by 3.7% in the 1st quarter. Callan Family Office LLC now owns 10,581 shares of the energy company’s stock worth $396,000 after purchasing an additional 377 shares in the last quarter. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Devon Energy Stock Up 0.0%

Shares of NYSE DVN opened at $35.16 on Thursday. The firm’s fifty day moving average is $33.91 and its 200 day moving average is $33.33. Devon Energy Corporation has a 52 week low of $25.89 and a 52 week high of $39.74. The company has a quick ratio of 1.13, a current ratio of 1.22 and a debt-to-equity ratio of 0.55. The company has a market cap of $22.06 billion, a price-to-earnings ratio of 7.88, a PEG ratio of 2.49 and a beta of 1.01.

Devon Energy (NYSE:DVN) last announced its quarterly earnings results on Wednesday, November 5th. The energy company reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.11. Devon Energy had a net margin of 16.57% and a return on equity of 18.59%. The business had revenue of $0.00 million for the quarter, compared to analyst estimates of $4.10 billion. During the same quarter last year, the firm earned $1.10 EPS. On average, equities research analysts expect that Devon Energy Corporation will post 4.85 earnings per share for the current year.

Devon Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Monday, December 15th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date is Monday, December 15th. Devon Energy’s payout ratio is currently 22.59%.

Analyst Ratings Changes

A number of research firms recently weighed in on DVN. Morgan Stanley dropped their target price on Devon Energy from $49.00 to $47.00 and set an “overweight” rating for the company in a research report on Tuesday, October 14th. UBS Group lifted their price target on shares of Devon Energy from $37.00 to $40.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 20th. The Goldman Sachs Group cut their price objective on shares of Devon Energy from $41.00 to $40.00 and set a “buy” rating for the company in a research note on Wednesday, October 15th. Royal Bank Of Canada set a $42.00 target price on shares of Devon Energy and gave the stock a “sector perform” rating in a research report on Friday, October 10th. Finally, Siebert Williams Shank cut their price target on shares of Devon Energy from $52.00 to $46.00 and set a “buy” rating for the company in a research report on Monday, October 13th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Devon Energy currently has an average rating of “Moderate Buy” and a consensus target price of $43.07.

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.