Clear Harbor Asset Management LLC Has $322,000 Stake in Devon Energy Co. (NYSE:DVN)

Clear Harbor Asset Management LLC cut its stake in Devon Energy Co. (NYSE:DVN) by 73.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,846 shares of the energy company’s stock after selling 27,378 shares during the quarter. Clear Harbor Asset Management LLC’s holdings in Devon Energy were worth $322,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. William B. Walkup & Associates Inc. purchased a new stake in Devon Energy in the 2nd quarter valued at $1,026,000. Bridgewater Associates LP bought a new stake in shares of Devon Energy in the 3rd quarter worth $9,426,000. Legacy Investment Solutions LLC bought a new stake in shares of Devon Energy in the 3rd quarter worth $8,002,000. Petrus Trust Company LTA raised its holdings in shares of Devon Energy by 394.7% in the third quarter. Petrus Trust Company LTA now owns 21,827 shares of the energy company’s stock valued at $854,000 after purchasing an additional 17,415 shares during the last quarter. Finally, CIBC Asset Management Inc lifted its position in shares of Devon Energy by 6.3% during the third quarter. CIBC Asset Management Inc now owns 107,182 shares of the energy company’s stock valued at $4,193,000 after purchasing an additional 6,358 shares in the last quarter. Institutional investors own 69.72% of the company’s stock.

Devon Energy Stock Down 3.2 %

Shares of NYSE DVN opened at $36.73 on Wednesday. The company has a quick ratio of 1.01, a current ratio of 1.11 and a debt-to-equity ratio of 0.61. The company has a market cap of $24.13 billion, a P/E ratio of 6.81, a P/E/G ratio of 1.26 and a beta of 2.00. Devon Energy Co. has a 52 week low of $30.39 and a 52 week high of $55.09. The business has a 50-day simple moving average of $35.43 and a two-hundred day simple moving average of $40.07.

Devon Energy (NYSE:DVN) last released 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 company had revenue of $4.02 billion during the quarter, compared to analyst estimates of $3.72 billion. During the same period last year, the business earned $1.65 earnings per share. Devon Energy’s revenue was up 4.9% compared to the same quarter last year. Research analysts anticipate that Devon Energy Co. will post 4.68 earnings per share for the current fiscal year.

Devon Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Friday, December 13th were issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date of this dividend was Friday, December 13th. Devon Energy’s payout ratio is 16.33%.

Analyst Ratings Changes

A number of brokerages have issued reports on DVN. Wells Fargo & Company reduced their price objective on shares of Devon Energy from $49.00 to $43.00 and set an “overweight” rating for the company in a research report on Tuesday, December 17th. Susquehanna decreased their price target on Devon Energy from $63.00 to $62.00 and set a “positive” rating for the company in a research report on Friday, October 18th. Citigroup cut their price objective on Devon Energy from $55.00 to $48.00 and set a “buy” rating on the stock in a research report on Tuesday, November 26th. Wolfe Research raised Devon Energy from a “peer perform” rating to an “outperform” rating and set a $45.00 target price for the company in a research report on Friday, January 3rd. Finally, StockNews.com raised shares of Devon Energy from a “sell” rating to a “hold” rating in a report on Friday, January 3rd. Nine research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $49.27.

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.