Devon Energy Co. (NYSE:DVN) Shares Sold by D.A. Davidson & CO.

D.A. Davidson & CO. reduced its stake in Devon Energy Co. (NYSE:DVN) by 45.1% in the fourth quarter, HoldingsChannel reports. The fund owned 200,102 shares of the energy company’s stock after selling 164,151 shares during the quarter. D.A. Davidson & CO.’s holdings in Devon Energy were worth $6,549,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Capital Performance Advisors LLP acquired a new stake in Devon Energy during the third quarter valued at approximately $35,000. Sierra Ocean LLC acquired a new stake in Devon Energy during the fourth quarter valued at approximately $43,000. True Wealth Design LLC lifted its stake in Devon Energy by 3,889.3% during the third quarter. True Wealth Design LLC now owns 1,117 shares of the energy company’s stock valued at $44,000 after purchasing an additional 1,089 shares during the last quarter. Hazlett Burt & Watson Inc. lifted its stake in Devon Energy by 29.8% during the third quarter. Hazlett Burt & Watson Inc. now owns 1,263 shares of the energy company’s stock valued at $49,000 after purchasing an additional 290 shares during the last quarter. Finally, Activest Wealth Management lifted its position in shares of Devon Energy by 60.4% in the 3rd quarter. Activest Wealth Management now owns 1,275 shares of the energy company’s stock valued at $50,000 after acquiring an additional 480 shares in the last quarter. 69.72% of the stock is owned by institutional investors and hedge funds.

Devon Energy Stock Performance

Shares of DVN opened at $37.58 on Thursday. The company’s fifty day moving average is $34.31 and its 200-day moving average is $38.40. Devon Energy Co. has a 12 month low of $30.39 and a 12 month high of $55.09. The firm has a market cap of $24.69 billion, a price-to-earnings ratio of 6.97, a price-to-earnings-growth ratio of 1.08 and a beta of 1.98. The company has a quick ratio of 1.01, a current ratio of 1.11 and a debt-to-equity ratio of 0.61.

Devon Energy (NYSE:DVN) last announced its quarterly 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. The company had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.25 billion. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%. Equities analysts expect that Devon Energy Co. will post 4.68 EPS for the current fiscal year.

Devon Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be given a $0.24 dividend. This is an increase from Devon Energy’s previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a dividend yield of 2.55%. The ex-dividend date is Friday, March 14th. Devon Energy’s dividend payout ratio (DPR) is currently 16.33%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Cowen downgraded shares of Devon Energy to a “hold” rating and reduced their price target for the company from $46.00 to $45.00 in a research report on Tuesday. Sanford C. Bernstein upgraded shares of Devon Energy from a “market perform” rating to an “outperform” rating and set a $45.00 price target for the company in a research report on Wednesday, January 15th. Truist Financial reduced their price target on shares of Devon Energy from $43.00 to $42.00 and set a “hold” rating for the company in a research report on Monday, January 13th. Raymond James upped their price target on shares of Devon Energy from $53.00 to $54.00 and gave the company an “outperform” rating in a research report on Thursday, January 23rd. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $50.00 price target on shares of Devon Energy in a research report on Friday, January 10th. Ten equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $49.26.

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.