Radnor Capital Management LLC Sells 655 Shares of Devon Energy Co. (NYSE:DVN)

Radnor Capital Management LLC cut its position in Devon Energy Co. (NYSE:DVN) by 3.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,450 shares of the energy company’s stock after selling 655 shares during the quarter. Radnor Capital Management LLC’s holdings in Devon Energy were worth $876,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Manchester Capital Management LLC bought a new stake in Devon Energy in the 4th quarter valued at about $28,000. Sound Income Strategies LLC lifted its stake in shares of Devon Energy by 60.7% during the 4th quarter. Sound Income Strategies LLC now owns 675 shares of the energy company’s stock valued at $31,000 after buying an additional 255 shares in the last quarter. Rise Advisors LLC boosted its holdings in Devon Energy by 1,365.3% in the 4th quarter. Rise Advisors LLC now owns 718 shares of the energy company’s stock worth $33,000 after buying an additional 669 shares during the period. Jones Financial Companies Lllp grew its stake in 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 buying an additional 374 shares in the last quarter. Finally, PFS Partners LLC bought a new stake in Devon Energy during the 4th quarter valued at $36,000. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Wells Fargo & Company raised Devon Energy from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $46.00 to $59.00 in a report on Monday, April 1st. UBS Group lifted their target price on Devon Energy from $48.00 to $57.00 and gave the company a “neutral” rating in a report on Wednesday, April 10th. Susquehanna increased their price target on shares of Devon Energy from $52.00 to $65.00 and gave the stock a “positive” rating in a report on Monday, April 22nd. Stifel Nicolaus boosted their price objective on shares of Devon Energy from $65.00 to $66.00 and gave the company a “buy” rating in a research note on Tuesday, April 23rd. Finally, StockNews.com raised shares of Devon Energy from a “hold” rating to a “buy” rating in a report on Tuesday, June 18th. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, Devon Energy currently has an average rating of “Moderate Buy” and an average price target of $59.24.

Devon Energy Stock Up 0.4 %

Shares of NYSE DVN opened at $46.01 on Monday. The stock has a market capitalization of $29.08 billion, a P/E ratio of 8.74, a PEG ratio of 1.22 and a beta of 2.08. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.04 and a quick ratio of 0.97. Devon Energy Co. has a one year low of $40.47 and a one year high of $55.09. The firm’s 50 day simple moving average is $49.21 and its two-hundred day simple moving average is $46.81.

Devon Energy (NYSE:DVN) last posted its quarterly earnings results on Wednesday, May 1st. The energy company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.06. Devon Energy had a net margin of 22.27% and a return on equity of 29.02%. The business had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.64 billion. During the same period in the previous year, the firm posted $1.46 earnings per share. The firm’s revenue for the quarter was down 5.9% on a year-over-year basis. As a group, analysts expect 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. Investors 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 yield of 1.91%. The ex-dividend date is Friday, June 14th. Devon Energy’s dividend payout ratio is presently 16.79%.

Insider Buying and Selling

In other Devon Energy news, EVP Tana K. Cashion sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $51.04, for a total value of $1,020,800.00. Following the completion of the sale, the executive vice president now owns 104,182 shares in the company, valued at $5,317,449.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.73% of the stock is owned by corporate insiders.

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.