Devon Energy Co. (NYSE:DVN) Shares Sold by IVC Wealth Advisors LLC

IVC Wealth Advisors LLC cut its stake in shares of Devon Energy Co. (NYSE:DVN) by 18.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 10,187 shares of the energy company’s stock after selling 2,242 shares during the quarter. IVC Wealth Advisors LLC’s holdings in Devon Energy were worth $333,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in DVN. Riversedge Advisors LLC increased its holdings in Devon Energy by 3.6% in the third quarter. Riversedge Advisors LLC now owns 7,336 shares of the energy company’s stock valued at $287,000 after buying an additional 253 shares in the last quarter. Modus Advisors LLC increased its stake in Devon Energy by 2.4% in the 3rd quarter. Modus Advisors LLC now owns 11,439 shares of the energy company’s stock valued at $447,000 after purchasing an additional 272 shares in the last quarter. Lummis Asset Management LP raised its holdings in Devon Energy by 1.0% during the second quarter. Lummis Asset Management LP now owns 30,055 shares of the energy company’s stock worth $1,425,000 after purchasing an additional 290 shares during the last quarter. Hazlett Burt & Watson Inc. boosted its position in Devon Energy by 29.8% during the third 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, Sfmg LLC boosted its position in Devon Energy by 0.5% during the third quarter. Sfmg LLC now owns 64,871 shares of the energy company’s stock worth $2,538,000 after purchasing an additional 294 shares in the last quarter. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Devon Energy Trading Down 0.1 %

Shares of DVN opened at $36.43 on Friday. The stock’s fifty day simple moving average is $35.31 and its 200 day simple moving average is $40.02. Devon Energy Co. has a twelve month low of $30.39 and a twelve month high of $55.09. The company has a current ratio of 1.11, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $23.93 billion, a P/E ratio of 6.76, a price-to-earnings-growth 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. The business had revenue of $4.02 billion for the quarter, compared to analyst estimates of $3.72 billion. Devon Energy had a return on equity of 24.73% and a net margin of 21.71%. The company’s revenue was up 4.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.65 EPS. On average, equities research analysts forecast that Devon Energy Co. will post 4.68 earnings per share for the current year.

Devon Energy Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on DVN. Citigroup cut their price target on Devon Energy from $55.00 to $48.00 and set a “buy” rating for the company in a research note on Tuesday, November 26th. Scotiabank reduced their price target 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. Jefferies Financial Group started coverage on shares of Devon Energy in a research note on Thursday, October 3rd. They set a “hold” rating and a $45.00 price objective for the company. JPMorgan Chase & Co. lowered Devon Energy from an “overweight” rating to a “neutral” rating and set a $43.00 target price on the stock. in a research note on Thursday, December 5th. Finally, Wells Fargo & Company dropped their price target on Devon Energy from $49.00 to $43.00 and set an “overweight” rating for the company in a research report on Tuesday, December 17th. Nine investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, Devon Energy has an average rating of “Moderate Buy” and a consensus price target of $49.41.

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.