Lodestone Wealth Management LLC Sells 4,280 Shares of Devon Energy Corporation $DVN

Lodestone Wealth Management LLC reduced its stake in Devon Energy Corporation (NYSE:DVN) by 16.2% during the second quarter, HoldingsChannel.com reports. The firm owned 22,072 shares of the energy company’s stock after selling 4,280 shares during the quarter. Lodestone Wealth Management LLC’s holdings in Devon Energy were worth $702,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Ensign Peak Advisors Inc raised its stake in Devon Energy by 6.2% during the second quarter. Ensign Peak Advisors Inc now owns 290,565 shares of the energy company’s stock valued at $9,243,000 after buying an additional 16,900 shares during the last quarter. ARS Investment Partners LLC increased its holdings in shares of Devon Energy by 120.7% during the second quarter. ARS Investment Partners LLC now owns 76,225 shares of the energy company’s stock valued at $2,425,000 after acquiring an additional 41,681 shares in the last quarter. Traub Capital Management LLC purchased a new position in shares of Devon Energy in the 2nd quarter worth about $158,000. Bedell Frazier Investment Counselling LLC boosted its stake in Devon Energy by 139.4% in the 2nd quarter. Bedell Frazier Investment Counselling LLC now owns 29,467 shares of the energy company’s stock worth $937,000 after purchasing an additional 17,158 shares in the last quarter. Finally, Pinnacle Wealth Planning Services Inc. bought a new position in Devon Energy in the 2nd quarter worth about $214,000. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Capital One Financial decreased their target price on shares of Devon Energy from $52.00 to $51.00 and set an “overweight” rating for the company in a report on Tuesday, November 11th. UBS Group raised their price target on shares of Devon Energy from $37.00 to $40.00 and gave the company a “neutral” rating in a research report on Wednesday, August 20th. Royal Bank Of Canada set a $42.00 price objective on Devon Energy and gave the company a “sector perform” rating in a research report on Friday, October 10th. Evercore ISI lifted their target price on Devon Energy from $34.00 to $37.00 and gave the stock an “in-line” rating in a report on Monday, October 6th. Finally, Siebert Williams Shank decreased their price target on Devon Energy from $52.00 to $46.00 and set a “buy” rating for the company in a research note on Monday, October 13th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Devon Energy currently has a consensus rating of “Moderate Buy” and an average price target of $43.79.

Devon Energy Trading Down 1.6%

Shares of DVN stock opened at $35.31 on Thursday. The company has a current ratio of 1.22, a quick ratio of 1.13 and a debt-to-equity ratio of 0.55. Devon Energy Corporation has a 12-month low of $25.89 and a 12-month high of $39.65. The stock has a market capitalization of $22.15 billion, a P/E ratio of 7.92, a P/E/G ratio of 2.49 and a beta of 1.01. The firm’s 50 day moving average is $33.96 and its 200 day moving average is $33.48.

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

Devon Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Monday, December 15th will be given 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 dividend payout ratio is 22.59%.

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.