Mattern Wealth Management LLC Sells 2,154 Shares of Devon Energy Co. (NYSE:DVN)

Mattern Wealth Management LLC lowered its stake in shares of Devon Energy Co. (NYSE:DVN) by 23.6% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 6,992 shares of the energy company’s stock after selling 2,154 shares during the quarter. Mattern Wealth Management LLC’s holdings in Devon Energy were worth $229,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Capital Performance Advisors LLP purchased a new position in Devon Energy in the third quarter worth $35,000. Future Financial Wealth Managment LLC purchased a new position in shares of Devon Energy in the third quarter worth about $39,000. True Wealth Design LLC raised its holdings in Devon Energy by 3,889.3% during the 3rd quarter. True Wealth Design LLC now owns 1,117 shares of the energy company’s stock valued at $44,000 after acquiring an additional 1,089 shares during the period. Hazlett Burt & Watson Inc. grew its position in shares of Devon Energy by 29.8% in the third quarter. Hazlett Burt & Watson Inc. now owns 1,263 shares of the energy company’s stock valued at $49,000 after purchasing an additional 290 shares in the last quarter. Finally, Activest Wealth Management raised its stake in shares of Devon Energy by 60.4% during the 3rd quarter. Activest Wealth Management now owns 1,275 shares of the energy company’s stock valued at $50,000 after purchasing an additional 480 shares during the period. 69.72% of the stock is owned by institutional investors.

Devon Energy Price Performance

Devon Energy stock opened at $35.33 on Tuesday. Devon Energy Co. has a 1 year low of $30.39 and a 1 year 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 50-day moving average of $35.20 and a two-hundred day moving average of $39.78. The stock has a market cap of $23.20 billion, a price-to-earnings ratio of 6.55, a price-to-earnings-growth ratio of 1.21 and a beta of 2.00.

Devon Energy (NYSE:DVN) last announced its earnings results on Tuesday, November 5th. The energy company reported $1.10 EPS for the quarter, topping 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 the consensus estimate of $3.72 billion. During the same period in the previous year, the company posted $1.65 earnings per share. The firm’s revenue was up 4.9% on a year-over-year basis. On average, research analysts forecast that Devon Energy Co. will post 4.7 earnings per share for the current year.

Devon Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Friday, December 13th were issued a $0.22 dividend. The ex-dividend date was Friday, December 13th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.49%. Devon Energy’s dividend payout ratio is currently 16.33%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on DVN. Citigroup lowered their price target on Devon Energy from $55.00 to $48.00 and set a “buy” rating on the stock in a report on Tuesday, November 26th. JPMorgan Chase & Co. cut shares of Devon Energy from an “overweight” rating to a “neutral” rating and set a $43.00 price target on the stock. in a research report on Thursday, December 5th. Evercore ISI dropped their price objective on shares of Devon Energy from $55.00 to $50.00 and set an “in-line” rating on the stock in a research note on Monday, September 30th. Susquehanna cut their price objective on shares of Devon Energy from $63.00 to $62.00 and set a “positive” rating on the stock in a research report on Friday, October 18th. Finally, Scotiabank decreased their price target on Devon Energy from $60.00 to $48.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Nine equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $49.41.

Devon Energy Company 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.