Parkside Investments LLC Trims Position in Devon Energy Co. (NYSE:DVN)

Parkside Investments LLC reduced its holdings in Devon Energy Co. (NYSE:DVN) by 11.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 152,931 shares of the energy company’s stock after selling 19,013 shares during the period. Parkside Investments LLC’s holdings in Devon Energy were worth $5,005,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the business. Capital Performance Advisors LLP acquired a new stake in Devon Energy during the 3rd quarter worth about $35,000. Future Financial Wealth Managment LLC purchased a new position in Devon Energy during the third quarter valued at approximately $39,000. True Wealth Design LLC lifted its holdings in Devon Energy by 3,889.3% in the third quarter. True Wealth Design LLC now owns 1,117 shares of the energy company’s stock valued at $44,000 after acquiring an additional 1,089 shares during the period. Hazlett Burt & Watson Inc. boosted its position in Devon Energy by 29.8% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 1,263 shares of the energy company’s stock worth $49,000 after purchasing an additional 290 shares in the last quarter. Finally, Activest Wealth Management grew its stake in shares of Devon Energy by 60.4% during the 3rd quarter. Activest Wealth Management now owns 1,275 shares of the energy company’s stock worth $50,000 after purchasing an additional 480 shares during the period. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on DVN. Royal Bank of Canada reiterated a “sector perform” rating and issued a $50.00 target price on shares of Devon Energy in a research note on Friday, January 10th. StockNews.com raised shares of Devon Energy from a “sell” rating to a “hold” rating in a research note on Friday, January 3rd. Sanford C. Bernstein raised shares of Devon Energy from a “market perform” rating to an “outperform” rating and set a $45.00 price target on the stock in a research note on Wednesday, January 15th. Mizuho decreased their price objective on shares of Devon Energy from $51.00 to $47.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. Finally, Scotiabank cut their target price on shares of Devon Energy from $60.00 to $48.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Nine research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $49.41.

Devon Energy Trading Down 1.3 %

Shares of DVN opened at $35.98 on Monday. Devon Energy Co. has a 12-month low of $30.39 and a 12-month high of $55.09. The firm has a market capitalization of $23.64 billion, a P/E ratio of 6.68, a P/E/G ratio of 1.21 and a beta of 2.00. The firm has a 50-day moving average price of $35.27 and a 200 day moving average price of $39.86. The company has a current ratio of 1.11, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61.

Devon Energy (NYSE:DVN) last posted its quarterly earnings results 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. The business had revenue of $4.02 billion during the quarter, compared to analysts’ expectations of $3.72 billion. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.65 EPS. Sell-side analysts forecast that Devon Energy Co. will post 4.7 EPS for the current year.

Devon Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Friday, December 13th were given a $0.22 dividend. The ex-dividend date was Friday, December 13th. This represents a $0.88 dividend on an annualized basis and a yield of 2.45%. Devon Energy’s dividend payout ratio is currently 16.33%.

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.