Devon Energy Co. (NYSE:DVN) Shares Sold by Impact Partnership Wealth LLC

Impact Partnership Wealth LLC cut its holdings in shares of Devon Energy Co. (NYSE:DVN) by 31.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,234 shares of the energy company’s stock after selling 7,803 shares during the period. Impact Partnership Wealth LLC’s holdings in Devon Energy were worth $564,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of DVN. William B. Walkup & Associates Inc. bought a new position in Devon Energy during the second quarter worth $1,026,000. Bridgewater Associates LP acquired a new stake in shares of Devon Energy during the third quarter worth $9,426,000. Legacy Investment Solutions LLC bought a new position in shares of Devon Energy in the 3rd quarter worth about $8,002,000. Petrus Trust Company LTA boosted its holdings in shares of Devon Energy by 394.7% in the 3rd quarter. Petrus Trust Company LTA now owns 21,827 shares of the energy company’s stock valued at $854,000 after buying an additional 17,415 shares during the period. Finally, CIBC Asset Management Inc grew its position in shares of Devon Energy by 6.3% during the 3rd quarter. CIBC Asset Management Inc now owns 107,182 shares of the energy company’s stock valued at $4,193,000 after buying an additional 6,358 shares during the last quarter. Institutional investors and hedge funds own 69.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Jefferies Financial Group assumed coverage on Devon Energy in a research report on Thursday, October 3rd. They set a “hold” rating and a $45.00 price target on the stock. Wolfe Research upgraded shares of Devon Energy from a “peer perform” rating to an “outperform” rating and set a $45.00 price target on the stock in a research note on Friday, January 3rd. Mizuho lowered their price target on Devon Energy from $51.00 to $47.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. Wells Fargo & Company cut their price objective on Devon Energy from $49.00 to $43.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th. Finally, BMO Capital Markets lowered their target price on Devon Energy from $52.00 to $48.00 and set an “outperform” rating on the stock in a report on Friday, October 4th. Nine investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Devon Energy has a consensus rating of “Moderate Buy” and a consensus target price of $49.41.

Devon Energy Stock Down 0.1 %

Devon Energy stock opened at $36.43 on Friday. Devon Energy Co. has a fifty-two week low of $30.39 and a fifty-two week high of $55.09. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.11 and a quick ratio of 1.01. The firm has a market capitalization of $23.93 billion, a price-to-earnings ratio of 6.76, a PEG ratio of 1.21 and a beta of 2.00. The company’s 50 day simple moving average is $35.31 and its 200 day simple moving average is $40.02.

Devon Energy (NYSE:DVN) last announced its quarterly earnings results on Tuesday, November 5th. The energy company reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates 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 net margin of 21.71% and a return on equity of 24.73%. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period last year, the firm posted $1.65 earnings per share. As a group, sell-side analysts anticipate that Devon Energy Co. will post 4.7 EPS for the current year.

Devon Energy Dividend Announcement

The business also recently disclosed 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 annualized dividend and a dividend yield of 2.42%. The ex-dividend date was Friday, December 13th. Devon Energy’s payout ratio is presently 16.33%.

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.