Savant Capital LLC Lowers Holdings in Devon Energy Co. (NYSE:DVN)

Savant Capital LLC lowered its holdings in Devon Energy Co. (NYSE:DVN) by 2.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,611 shares of the energy company’s stock after selling 444 shares during the quarter. Savant Capital LLC’s holdings in Devon Energy were worth $843,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. SVB Wealth LLC boosted its holdings in Devon Energy by 5.6% during the 3rd quarter. SVB Wealth LLC now owns 8,105 shares of the energy company’s stock valued at $387,000 after acquiring an additional 430 shares during the period. Stratos Wealth Partners LTD. boosted its position in Devon Energy by 2.2% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 27,834 shares of the energy company’s stock valued at $1,328,000 after buying an additional 594 shares during the period. Stratos Wealth Advisors LLC acquired a new position in shares of Devon Energy in the third quarter worth $477,000. Independent Advisor Alliance increased its position in shares of Devon Energy by 51.9% during the third quarter. Independent Advisor Alliance now owns 29,766 shares of the energy company’s stock worth $1,420,000 after acquiring an additional 10,171 shares during the period. Finally, Brown Advisory Inc. raised its stake in shares of Devon Energy by 77.2% in the third quarter. Brown Advisory Inc. now owns 8,316 shares of the energy company’s stock valued at $397,000 after acquiring an additional 3,622 shares in the last quarter. Institutional investors and hedge funds own 69.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on DVN. Morgan Stanley boosted their target price on Devon Energy from $49.00 to $50.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Susquehanna upped their target price on shares of Devon Energy from $52.00 to $65.00 and gave the stock a “positive” rating in a research note on Monday, April 22nd. Truist Financial decreased their price target on shares of Devon Energy from $69.00 to $67.00 and set a “buy” rating for the company in a research note on Friday. Raymond James dropped their price objective on shares of Devon Energy from $53.00 to $52.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 24th. Finally, Piper Sandler lifted their price objective on shares of Devon Energy from $59.00 to $60.00 and gave the stock an “overweight” rating in a research report on Friday, April 19th. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, Devon Energy presently has an average rating of “Moderate Buy” and a consensus price target of $58.44.

Devon Energy Price Performance

DVN stock opened at $50.54 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.99 and a current ratio of 1.04. The stock’s 50 day moving average price is $49.62 and its 200 day moving average price is $46.31. The firm has a market cap of $32.09 billion, a P/E ratio of 9.64 and a beta of 2.16. Devon Energy Co. has a 1 year low of $40.47 and a 1 year high of $55.09.

Devon Energy (NYSE:DVN) last issued its quarterly earnings data on Wednesday, May 1st. The energy company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.06. The business had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.64 billion. Devon Energy had a return on equity of 29.02% and a net margin of 22.27%. The business’s revenue was down 5.9% on a year-over-year basis. During the same period in the prior year, the business earned $1.46 earnings per share. On average, sell-side analysts expect that Devon Energy Co. will post 5.28 earnings per share for the current fiscal year.

Devon Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.88 annualized dividend and a yield of 1.74%. Devon Energy’s dividend payout ratio (DPR) is presently 16.79%.

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.