Key Client Fiduciary Advisors LLC Sells 903 Shares of Devon Energy Co. (NYSE:DVN)

Key Client Fiduciary Advisors LLC reduced its holdings in Devon Energy Co. (NYSE:DVN) by 12.7% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 6,209 shares of the energy company’s stock after selling 903 shares during the quarter. Key Client Fiduciary Advisors LLC’s holdings in Devon Energy were worth $203,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Veracity Capital LLC lifted its stake in Devon Energy by 23.2% in the fourth quarter. Veracity Capital LLC now owns 10,654 shares of the energy company’s stock worth $349,000 after acquiring an additional 2,004 shares during the period. Endeavor Private Wealth Inc. purchased a new stake in shares of Devon Energy in the 4th quarter worth about $52,000. Dakota Wealth Management lifted its position in shares of Devon Energy by 260.8% in the 4th quarter. Dakota Wealth Management now owns 19,230 shares of the energy company’s stock worth $629,000 after purchasing an additional 13,900 shares during the period. MCF Advisors LLC boosted its stake in shares of Devon Energy by 60.6% during the 4th quarter. MCF Advisors LLC now owns 6,109 shares of the energy company’s stock valued at $200,000 after purchasing an additional 2,306 shares in the last quarter. Finally, Segment Wealth Management LLC increased its position in shares of Devon Energy by 4.5% during the fourth quarter. Segment Wealth Management LLC now owns 8,952 shares of the energy company’s stock valued at $293,000 after buying an additional 385 shares during the period. 69.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on DVN. Evercore ISI cut their price objective on Devon Energy from $55.00 to $50.00 and set an “in-line” rating on the stock in a research report on Monday, September 30th. JPMorgan Chase & Co. lowered Devon Energy from an “overweight” rating to a “neutral” rating and set a $43.00 price target on the stock. in a research report on Thursday, December 5th. StockNews.com upgraded Devon Energy from a “sell” rating to a “hold” rating in a report on Friday, January 3rd. Scotiabank dropped their target price on shares of Devon Energy from $60.00 to $48.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Finally, Susquehanna decreased their price target on shares of Devon Energy from $63.00 to $62.00 and set a “positive” rating for the company in a research note on Friday, October 18th. Nine investment 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, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $49.41.

Devon Energy Price Performance

NYSE DVN opened at $36.43 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 50-day moving average of $35.31 and a 200 day moving average of $40.02. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.11. The company has a market capitalization of $23.93 billion, a price-to-earnings ratio of 6.76, a PEG ratio of 1.22 and a beta of 2.00.

Devon Energy (NYSE:DVN) last released its quarterly earnings data on Tuesday, November 5th. The energy company reported $1.10 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.01. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%. The firm had revenue of $4.02 billion during the quarter, compared to analysts’ expectations of $3.72 billion. During the same period in the previous year, the company earned $1.65 earnings per share. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. On average, sell-side analysts forecast that Devon Energy Co. will post 4.68 EPS for the current year.

Devon Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Friday, December 13th were paid a $0.22 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.42%. Devon Energy’s dividend payout ratio (DPR) is currently 16.33%.

About Devon Energy

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.