Devon Energy Co. (NYSE:DVN) Shares Sold by Visionary Wealth Advisors

Visionary Wealth Advisors lowered its holdings in Devon Energy Co. (NYSE:DVN) by 16.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,569 shares of the energy company’s stock after selling 1,858 shares during the period. Visionary Wealth Advisors’ holdings in Devon Energy were worth $313,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in DVN. Vanguard Group Inc. increased its position in shares of Devon Energy by 7.3% in the fourth quarter. Vanguard Group Inc. now owns 80,682,170 shares of the energy company’s stock worth $2,640,727,000 after acquiring an additional 5,465,692 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Devon Energy during the 4th quarter valued at $154,170,000. Fuller & Thaler Asset Management Inc. grew its holdings in Devon Energy by 42.8% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 10,395,225 shares of the energy company’s stock valued at $340,236,000 after purchasing an additional 3,114,656 shares in the last quarter. Marshall Wace LLP grew its holdings in Devon Energy by 135.5% during the 4th quarter. Marshall Wace LLP now owns 5,371,518 shares of the energy company’s stock valued at $175,810,000 after purchasing an additional 3,090,585 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in Devon Energy by 32.8% during the 4th quarter. Invesco Ltd. now owns 9,461,719 shares of the energy company’s stock valued at $309,682,000 after purchasing an additional 2,335,473 shares in the last quarter. Institutional investors and hedge funds own 69.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on DVN shares. Raymond James set a $40.00 price target on shares of Devon Energy in a report on Monday, April 21st. JPMorgan Chase & Co. lowered their price target on shares of Devon Energy from $48.00 to $42.00 and set a “neutral” rating for the company in a report on Thursday, March 13th. Mizuho lowered their price target on shares of Devon Energy from $46.00 to $43.00 and set an “outperform” rating for the company in a report on Tuesday, May 13th. Cowen lowered shares of Devon Energy to a “hold” rating and lowered their price target for the company from $46.00 to $45.00 in a report on Tuesday, February 18th. Finally, Wells Fargo & Company raised their price target on shares of Devon Energy from $44.00 to $46.00 and gave the company an “overweight” rating in a report on Wednesday, May 14th. Ten equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.83.

Devon Energy Trading Down 2.0%

NYSE DVN opened at $31.54 on Thursday. Devon Energy Co. has a one year low of $25.89 and a one year high of $49.39. The company has a 50-day simple moving average of $32.37 and a 200-day simple moving average of $34.44. 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 capitalization of $20.25 billion, a PE ratio of 6.92, a price-to-earnings-growth ratio of 1.20 and a beta of 1.00.

Devon Energy (NYSE:DVN) last posted its quarterly earnings results on Tuesday, May 6th. The energy company reported $1.21 EPS for the quarter, missing the consensus estimate of $1.27 by ($0.06). Devon Energy had a net margin of 18.14% and a return on equity of 22.52%. The business had revenue of $4.45 billion during the quarter, compared to analyst estimates of $4.31 billion. During the same period last year, the firm posted $1.16 earnings per share. The company’s quarterly revenue was up 23.8% on a year-over-year basis. On average, equities analysts forecast that Devon Energy Co. 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 Monday, June 30th. Stockholders of record on Friday, June 13th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 3.04%. The ex-dividend date of this dividend is Friday, June 13th. Devon Energy’s dividend payout ratio (DPR) is presently 21.87%.

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.