Fisher Asset Management LLC Sells 5,793 Shares of Devon Energy Co. (NYSE:DVN)

Fisher Asset Management LLC reduced its stake in Devon Energy Co. (NYSE:DVN) by 4.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 125,681 shares of the energy company’s stock after selling 5,793 shares during the period. Fisher Asset Management LLC’s holdings in Devon Energy were worth $4,917,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in DVN. Triad Wealth Partners LLC purchased a new stake in shares of Devon Energy in the second quarter worth $27,000. 1620 Investment Advisors Inc. purchased a new stake in shares of Devon Energy in the second quarter worth $34,000. Capital Performance Advisors LLP purchased a new stake in shares of Devon Energy in the third quarter worth $35,000. PSI Advisors LLC raised its position in shares of Devon Energy by 66.7% in the second quarter. PSI Advisors LLC now owns 750 shares of the energy company’s stock worth $36,000 after buying an additional 300 shares in the last quarter. Finally, LRI Investments LLC purchased a new stake in shares of Devon Energy in the first quarter worth $39,000. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Devon Energy Stock Up 0.3 %

DVN opened at $37.84 on Friday. 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 company has a market cap of $24.86 billion, a P/E ratio of 7.02, a P/E/G ratio of 1.21 and a beta of 2.03. Devon Energy Co. has a 12 month low of $37.28 and a 12 month high of $55.09. The business’s 50-day moving average price is $39.80 and its 200-day moving average price is $43.69.

Devon Energy (NYSE:DVN) last posted its earnings results on Tuesday, November 5th. The energy company reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $0.01. The company had revenue of $4.02 billion for the quarter, compared to analysts’ expectations of $3.72 billion. Devon Energy had a return on equity of 24.73% and a net margin of 21.71%. Devon Energy’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period last year, the firm earned $1.65 earnings per share. On average, equities analysts expect that Devon Energy Co. will post 4.79 EPS for the current year.

Devon Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be paid a $0.22 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.88 annualized dividend and a dividend yield of 2.33%. Devon Energy’s payout ratio is presently 16.33%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. StockNews.com downgraded Devon Energy from a “hold” rating to a “sell” rating in a research report on Thursday, November 7th. Royal Bank of Canada restated a “sector perform” rating and set a $57.00 price target on shares of Devon Energy in a research report on Tuesday, September 3rd. Mizuho lowered their price target on Devon Energy from $53.00 to $51.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 9th. Evercore ISI lowered their price target on Devon Energy from $55.00 to $50.00 and set an “in-line” rating on the stock in a research report on Monday, September 30th. Finally, Benchmark restated a “hold” rating on shares of Devon Energy in a research report on Tuesday, October 15th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $51.15.

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.