Devon Energy Co. (NYSE:DVN) Shares Sold by Creative Financial Designs Inc. ADV

Creative Financial Designs Inc. ADV cut its holdings in shares of Devon Energy Co. (NYSE:DVN) by 64.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,285 shares of the energy company’s stock after selling 2,304 shares during the quarter. Creative Financial Designs Inc. ADV’s holdings in Devon Energy were worth $42,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in DVN. Legacy Investment Solutions LLC purchased a new stake in shares of Devon Energy in the 3rd quarter valued at approximately $8,002,000. Bridgewater Associates LP purchased a new stake in shares of Devon Energy in the 3rd quarter valued at approximately $9,426,000. Petrus Trust Company LTA increased its position in shares of Devon Energy by 394.7% in the 3rd quarter. Petrus Trust Company LTA now owns 21,827 shares of the energy company’s stock valued at $854,000 after purchasing an additional 17,415 shares during the last quarter. Klein Pavlis & Peasley Financial Inc. purchased a new stake in shares of Devon Energy in the 4th quarter valued at approximately $782,000. Finally, Fortem Financial Group LLC purchased a new stake in shares of Devon Energy in the 3rd quarter valued at approximately $583,000. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Devon Energy Stock Up 0.1 %

DVN stock opened at $36.18 on Friday. Devon Energy Co. has a one year low of $30.39 and a one year high of $55.09. The stock has a market capitalization of $23.48 billion, a PE ratio of 7.93, a price-to-earnings-growth ratio of 1.20 and a beta of 1.91. 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 company has a fifty day moving average of $35.46 and a 200-day moving average of $37.06.

Devon Energy (NYSE:DVN) last released its earnings results on Tuesday, February 18th. The energy company reported $1.16 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $4.25 billion. As a group, analysts expect that Devon Energy Co. will post 4.85 EPS for the current year.

Devon Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a $0.24 dividend. This is a boost from Devon Energy’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.96 annualized dividend and a dividend yield of 2.65%. Devon Energy’s dividend payout ratio (DPR) is 21.05%.

Analyst Ratings Changes

DVN has been the topic of a number of recent analyst reports. Mizuho dropped their target price on shares of Devon Energy from $51.00 to $47.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. Barclays increased their target price on shares of Devon Energy from $43.00 to $44.00 and gave the company an “equal weight” rating in a research report on Thursday, February 20th. Williams Trading set a $50.00 target price on shares of Devon Energy in a research report on Wednesday, March 5th. Benchmark reaffirmed a “buy” rating and issued a $44.00 target price on shares of Devon Energy in a research report on Thursday, February 20th. Finally, StockNews.com raised shares of Devon Energy from a “sell” rating to a “hold” rating in a research report on Friday, January 3rd. Ten research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $48.46.

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.