Level Four Advisory Services LLC Cuts Stock Position in Devon Energy Co. (NYSE:DVN)

Level Four Advisory Services LLC trimmed its position in shares of Devon Energy Co. (NYSE:DVN) by 4.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,047 shares of the energy company’s stock after selling 376 shares during the period. Level Four Advisory Services LLC’s holdings in Devon Energy were worth $296,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of DVN. Cromwell Holdings LLC raised its stake in shares of Devon Energy by 98.0% during the fourth quarter. Cromwell Holdings LLC now owns 1,208 shares of the energy company’s stock worth $40,000 after acquiring an additional 598 shares in the last quarter. Sierra Ocean LLC bought a new position in shares of Devon Energy during the 4th quarter valued at $43,000. Endeavor Private Wealth Inc. bought a new position in shares of Devon Energy during the 4th quarter valued at $52,000. Thompson Investment Management Inc. raised its position in Devon Energy by 60.0% in the 4th quarter. Thompson Investment Management Inc. now owns 1,600 shares of the energy company’s stock worth $52,000 after purchasing an additional 600 shares during the period. Finally, Asset Planning Inc bought a new stake in Devon Energy in the fourth quarter worth $54,000. Institutional investors own 69.72% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on DVN. Citigroup reduced their price objective on Devon Energy from $48.00 to $46.00 and set a “buy” rating on the stock in a research note on Monday, March 17th. Raymond James decreased their price target on Devon Energy from $54.00 to $46.00 and set an “outperform” rating on the stock in a research note on Monday, March 10th. Wolfe Research raised Devon Energy from a “peer perform” rating to an “outperform” rating and set a $45.00 price objective for the company in a research note on Friday, January 3rd. Susquehanna raised their target price on shares of Devon Energy from $50.00 to $52.00 and gave the stock a “positive” rating in a report on Thursday, February 20th. Finally, Barclays upped their price target on shares of Devon Energy from $43.00 to $44.00 and gave the company an “equal weight” rating in a report on Thursday, February 20th. Ten analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $48.29.

Devon Energy Trading Up 0.4 %

NYSE:DVN opened at $37.56 on Wednesday. The firm has a market capitalization of $24.37 billion, a P/E ratio of 8.24, a PEG ratio of 1.20 and a beta of 1.91. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 1.01. Devon Energy Co. has a one year low of $30.39 and a one year high of $55.09. The company’s 50-day simple moving average is $35.39 and its 200 day simple moving average is $36.81.

Devon Energy (NYSE:DVN) last posted its quarterly earnings results on Tuesday, February 18th. The energy company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.16. Devon Energy had a return on equity of 22.52% and a net margin of 18.14%. The company had revenue of $4.40 billion for the quarter, compared to the consensus estimate of $4.25 billion. As a group, analysts forecast that Devon Energy Co. will post 4.85 EPS for the current fiscal year.

Devon Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were issued a dividend of $0.24 per share. The ex-dividend date was Friday, March 14th. 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 2.56%. Devon Energy’s dividend payout ratio (DPR) is presently 21.05%.

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.