Devon Energy Co. (NYSE:DVN) Shares Sold by Choreo LLC

Choreo LLC decreased its holdings in shares of Devon Energy Co. (NYSE:DVN) by 7.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,947 shares of the energy company’s stock after selling 455 shares during the quarter. Choreo LLC’s holdings in Devon Energy were worth $269,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of DVN. SVB Wealth LLC grew its holdings in shares of Devon Energy by 5.6% during the third quarter. SVB Wealth LLC now owns 8,105 shares of the energy company’s stock worth $387,000 after buying an additional 430 shares in the last quarter. Stratos Wealth Partners LTD. grew its holdings in shares of Devon Energy by 2.2% during the third quarter. Stratos Wealth Partners LTD. now owns 27,834 shares of the energy company’s stock worth $1,328,000 after buying an additional 594 shares in the last quarter. Stratos Wealth Advisors LLC purchased a new stake in shares of Devon Energy during the third quarter worth $477,000. Independent Advisor Alliance grew its holdings 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 buying an additional 10,171 shares in the last quarter. Finally, Brown Advisory Inc. grew its holdings in shares of Devon Energy by 77.2% during the third quarter. Brown Advisory Inc. now owns 8,316 shares of the energy company’s stock worth $397,000 after buying an additional 3,622 shares in the last quarter. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on DVN shares. Wells Fargo & Company raised shares of Devon Energy from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $46.00 to $59.00 in a report on Monday, April 1st. Stifel Nicolaus upped their price objective on shares of Devon Energy from $65.00 to $66.00 and gave the company a “buy” rating in a report on Tuesday, April 23rd. Barclays started coverage on shares of Devon Energy in a report on Wednesday, April 10th. They issued an “equal weight” rating and a $59.00 price objective for the company. Piper Sandler upped their price objective on shares of Devon Energy from $59.00 to $60.00 and gave the company an “overweight” rating in a report on Friday, April 19th. Finally, StockNews.com raised shares of Devon Energy from a “hold” rating to a “buy” rating in a report on Friday. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $58.44.

Devon Energy Trading Up 0.4 %

NYSE DVN opened at $50.54 on Friday. The stock has a market capitalization of $32.09 billion, a P/E ratio of 9.64 and a beta of 2.16. Devon Energy Co. has a 12 month low of $40.47 and a 12 month high of $55.09. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.07 and a quick ratio of 0.99. The firm’s 50-day moving average is $49.48 and its two-hundred day moving average is $46.30.

Devon Energy (NYSE:DVN) last issued its quarterly earnings results on Wednesday, May 1st. The energy company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.06. The business had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $3.64 billion. Devon Energy had a net margin of 22.27% and a return on equity of 29.41%. The business’s quarterly revenue was down 5.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.46 earnings per share. On average, sell-side analysts anticipate that Devon Energy Co. will post 5.28 earnings per share for the current year.

Devon Energy Cuts Dividend

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

Devon Energy 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.