Devon Energy Co. (NYSE:DVN) Shares Sold by Integrated Advisors Network LLC

Integrated Advisors Network LLC trimmed its holdings in Devon Energy Co. (NYSE:DVN) by 71.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,344 shares of the energy company’s stock after selling 13,465 shares during the period. Integrated Advisors Network LLC’s holdings in Devon Energy were worth $242,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Manchester Capital Management LLC bought a new stake in shares of Devon Energy in the 4th quarter valued at approximately $28,000. Sound Income Strategies LLC increased its holdings in shares of Devon Energy by 60.7% in the 4th quarter. Sound Income Strategies LLC now owns 675 shares of the energy company’s stock valued at $31,000 after acquiring an additional 255 shares during the last quarter. Rise Advisors LLC increased its holdings in shares of Devon Energy by 1,365.3% in the 4th quarter. Rise Advisors LLC now owns 718 shares of the energy company’s stock valued at $33,000 after acquiring an additional 669 shares during the last quarter. Jones Financial Companies Lllp increased its holdings in shares of Devon Energy by 104.8% in the 4th quarter. Jones Financial Companies Lllp now owns 731 shares of the energy company’s stock valued at $33,000 after acquiring an additional 374 shares during the last quarter. Finally, PFS Partners LLC bought a new stake in shares of Devon Energy in the 4th quarter valued at approximately $36,000. 69.72% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP Tana K. Cashion sold 20,000 shares of the company’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $51.04, for a total transaction of $1,020,800.00. Following the completion of the sale, the executive vice president now directly owns 104,182 shares of the company’s stock, valued at $5,317,449.28. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.73% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

DVN has been the subject of a number of research analyst reports. Scotiabank boosted their price target on Devon Energy from $53.00 to $67.00 and gave the company a “sector outperform” rating in a report on Thursday, April 11th. Piper Sandler upped their price objective on Devon Energy from $60.00 to $61.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 14th. Wells Fargo & Company upgraded Devon Energy from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $46.00 to $59.00 in a research note on Monday, April 1st. Stifel Nicolaus upped their price objective on Devon Energy from $65.00 to $66.00 and gave the stock a “buy” rating in a research note on Tuesday, April 23rd. Finally, Bank of America restated a “buy” rating and set a $64.00 price objective on shares of Devon Energy in a research note on Friday, June 14th. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $59.24.

Devon Energy Trading Down 0.2 %

Shares of Devon Energy stock opened at $45.65 on Thursday. The company has a quick ratio of 0.97, a current ratio of 1.04 and a debt-to-equity ratio of 0.46. The firm has a market cap of $28.85 billion, a price-to-earnings ratio of 8.71, a price-to-earnings-growth ratio of 1.21 and a beta of 2.08. The business has a fifty day simple moving average of $49.52 and a 200-day simple moving average of $46.76. Devon Energy Co. has a fifty-two week low of $40.47 and a fifty-two week high of $55.09.

Devon Energy (NYSE:DVN) last announced its quarterly earnings data on Wednesday, May 1st. The energy company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.06. The business had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.64 billion. Devon Energy had a return on equity of 29.02% and a net margin of 22.27%. The company’s revenue was down 5.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.46 earnings per share. On average, equities analysts forecast that Devon Energy Co. will post 5.24 EPS for the current fiscal year.

Devon Energy Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.93%. The ex-dividend date is Friday, June 14th. Devon Energy’s dividend payout ratio is 16.79%.

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.