Devon Energy Co. (NYSE:DVN) Position Lowered by Investors Asset Management of Georgia Inc. GA ADV

Investors Asset Management of Georgia Inc. GA ADV decreased its stake in shares of Devon Energy Co. (NYSE:DVN) by 3.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,587 shares of the energy company’s stock after selling 245 shares during the period. Investors Asset Management of Georgia Inc. GA ADV’s holdings in Devon Energy were worth $300,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of DVN. AlphaCrest Capital Management LLC bought a new position in shares of Devon Energy during the first quarter worth about $364,000. Acadian Asset Management LLC bought a new position in Devon Energy in the first quarter worth about $188,000. Blair William & Co. IL lifted its holdings in Devon Energy by 52.1% in the first quarter. Blair William & Co. IL now owns 99,120 shares of the energy company’s stock worth $5,861,000 after acquiring an additional 33,936 shares during the last quarter. Sei Investments Co. lifted its holdings in Devon Energy by 9.2% in the first quarter. Sei Investments Co. now owns 414,354 shares of the energy company’s stock worth $24,500,000 after acquiring an additional 34,870 shares during the last quarter. Finally, Canada Pension Plan Investment Board bought a new position in Devon Energy in the first quarter worth about $26,000. Institutional investors own 69.72% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on DVN. Truist Financial decreased their price objective on Devon Energy from $69.00 to $66.00 and set a “buy” rating for the company in a report on Friday, April 5th. Mizuho decreased their price objective on Devon Energy from $54.00 to $53.00 and set a “buy” rating for the company in a report on Thursday, January 11th. Morgan Stanley increased their price objective on Devon Energy from $49.00 to $50.00 and gave the stock an “overweight” rating in a report on Monday. JPMorgan Chase & Co. increased their price objective on Devon Energy from $57.00 to $62.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. Finally, UBS Group increased their price objective on Devon Energy from $48.00 to $57.00 and gave the stock a “neutral” rating in a report on Wednesday, April 10th. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $57.89.

Devon Energy Price Performance

Shares of NYSE:DVN traded down $0.20 on Thursday, reaching $51.47. 2,538,565 shares of the company traded hands, compared to its average volume of 8,007,617. Devon Energy Co. has a fifty-two week low of $40.47 and a fifty-two week high of $55.09. The company’s 50 day moving average is $47.51 and its 200-day moving average is $45.82. The stock has a market capitalization of $32.68 billion, a PE ratio of 8.89 and a beta of 2.19. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.07 and a quick ratio of 0.99.

Devon Energy (NYSE:DVN) last announced its quarterly earnings data on Tuesday, February 27th. The energy company reported $1.41 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.02. Devon Energy had a return on equity of 31.72% and a net margin of 24.56%. The company had revenue of $4.15 billion during the quarter, compared to the consensus estimate of $3.88 billion. During the same quarter in the prior year, the firm earned $1.66 EPS. The company’s quarterly revenue was down 3.6% compared to the same quarter last year. As a group, analysts anticipate that Devon Energy Co. will post 5.14 earnings per share for the current fiscal year.

Devon Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were issued a $0.44 dividend. The ex-dividend date was Thursday, March 14th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.42%. Devon Energy’s payout ratio is currently 15.09%.

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.