Devon Energy Co. (NYSE:DVN) Shares Sold by Lake Street Private Wealth LLC

Lake Street Private Wealth LLC reduced its holdings in shares of Devon Energy Co. (NYSE:DVN) by 40.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,025 shares of the energy company’s stock after selling 8,223 shares during the quarter. Lake Street Private Wealth LLC’s holdings in Devon Energy were worth $394,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Riversedge Advisors LLC grew its holdings in shares of Devon Energy by 3.6% during 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 boosted its position in Devon Energy by 2.4% during the 3rd quarter. Modus Advisors LLC now owns 11,439 shares of the energy company’s stock worth $447,000 after acquiring an additional 272 shares during the period. Lummis Asset Management LP boosted its position in Devon Energy by 1.0% during the 2nd quarter. Lummis Asset Management LP now owns 30,055 shares of the energy company’s stock worth $1,425,000 after acquiring an additional 290 shares during the period. Hazlett Burt & Watson Inc. grew its stake in Devon Energy by 29.8% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 1,263 shares of the energy company’s stock valued at $49,000 after acquiring an additional 290 shares in the last quarter. Finally, Sfmg LLC increased its holdings in shares of Devon Energy by 0.5% in the 3rd quarter. Sfmg LLC now owns 64,871 shares of the energy company’s stock valued at $2,538,000 after purchasing an additional 294 shares during the period. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Benchmark raised shares of Devon Energy from a “hold” rating to a “buy” rating and set a $44.00 price objective on the stock in a research report on Tuesday, January 14th. Mizuho dropped their price target on shares of Devon Energy from $51.00 to $47.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. Scotiabank reduced their price objective on Devon Energy from $60.00 to $48.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. BMO Capital Markets cut their price target on Devon Energy from $52.00 to $48.00 and set an “outperform” rating for the company in a research note on Friday, October 4th. Finally, JPMorgan Chase & Co. cut Devon Energy from an “overweight” rating to a “neutral” rating and set a $43.00 price target for the company. in a research note on Thursday, December 5th. Nine equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $49.27.

Devon Energy Price Performance

NYSE:DVN opened at $37.98 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.11 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 has a fifty day moving average price of $35.48 and a 200 day moving average price of $40.27. The stock has a market cap of $24.95 billion, a P/E ratio of 7.05, a PEG ratio of 1.14 and a beta of 2.00.

Devon Energy (NYSE:DVN) last announced its quarterly earnings data on Tuesday, November 5th. The energy company reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.01. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%. The business had revenue of $4.02 billion during the quarter, compared to analyst estimates of $3.72 billion. During the same quarter in the prior year, the business earned $1.65 earnings per share. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. Analysts anticipate that Devon Energy Co. will post 4.72 earnings per share for the current year.

Devon Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Friday, December 13th were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.32%. The ex-dividend date of this dividend was Friday, December 13th. Devon Energy’s payout ratio is presently 16.33%.

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.