Kingswood Wealth Advisors LLC Sells 25,963 Shares of Devon Energy Co. (NYSE:DVN)

Kingswood Wealth Advisors LLC cut its holdings in Devon Energy Co. (NYSE:DVN) by 66.9% in the first quarter, HoldingsChannel reports. The firm owned 12,820 shares of the energy company’s stock after selling 25,963 shares during the quarter. Kingswood Wealth Advisors LLC’s holdings in Devon Energy were worth $643,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Manchester Capital Management LLC bought a new position in shares of Devon Energy in the 4th quarter valued at about $28,000. Sound Income Strategies LLC raised its holdings in 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 during the period. Rise Advisors LLC lifted its position in Devon Energy by 1,365.3% in the fourth 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 last quarter. Jones Financial Companies Lllp boosted its stake in Devon Energy by 104.8% during the fourth quarter. Jones Financial Companies Lllp now owns 731 shares of the energy company’s stock worth $33,000 after buying an additional 374 shares during the period. Finally, PFS Partners LLC bought a new position in Devon Energy during the fourth quarter valued at $36,000. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Insider Activity at Devon Energy

In other Devon Energy news, EVP Tana K. Cashion sold 20,000 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $5,317,449.28. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.73% of the stock is currently owned by corporate insiders.

Devon Energy Stock Performance

Shares of Devon Energy stock opened at $46.73 on Thursday. Devon Energy Co. has a one year low of $40.47 and a one year high of $55.09. The company has a market capitalization of $29.53 billion, a PE ratio of 8.92, a P/E/G ratio of 1.25 and a beta of 2.08. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.97 and a current ratio of 1.04. The company has a 50-day simple moving average of $48.91 and a two-hundred day simple moving average of $46.86.

Devon Energy (NYSE:DVN) last posted its earnings results on Wednesday, May 1st. The energy company reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.06. Devon Energy had a net margin of 22.27% and a return on equity of 29.02%. The company had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.64 billion. During the same quarter in the prior year, the company posted $1.46 earnings per share. Devon Energy’s revenue for the quarter was down 5.9% compared to the same quarter last year. Research analysts expect that Devon Energy Co. will post 5.27 EPS for the current fiscal year.

Devon Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.88 annualized dividend and a yield of 1.88%. Devon Energy’s dividend payout ratio (DPR) is 16.79%.

Analyst Ratings Changes

A number of equities analysts recently commented on DVN shares. JPMorgan Chase & Co. lifted their price target on shares of Devon Energy from $57.00 to $62.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. Mizuho lifted their target price on Devon Energy from $57.00 to $61.00 and gave the stock a “buy” rating in a research report on Monday, May 13th. Wells Fargo & Company upgraded shares of Devon Energy from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $46.00 to $59.00 in a report on Monday, April 1st. 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 report on Tuesday, April 23rd. Finally, Barclays began coverage on shares of Devon Energy in a research note on Wednesday, April 10th. They set an “equal weight” rating and a $59.00 price target for the company. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $59.24.

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.