Chapin Davis Inc. Has $619,000 Stock Holdings in Devon Energy Co. (NYSE:DVN)

Chapin Davis Inc. decreased its holdings in Devon Energy Co. (NYSE:DVN) by 19.6% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 12,329 shares of the energy company’s stock after selling 3,000 shares during the quarter. Chapin Davis Inc.’s holdings in Devon Energy were worth $619,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the company. Manchester Capital Management LLC acquired a new stake in Devon Energy in the 4th quarter valued at about $28,000. Sound Income Strategies LLC boosted its stake 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 purchasing an additional 255 shares during the last quarter. Rise Advisors LLC boosted its stake 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 purchasing an additional 669 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in Devon Energy by 104.8% during the 4th quarter. Jones Financial Companies Lllp now owns 731 shares of the energy company’s stock worth $33,000 after acquiring an additional 374 shares during the last quarter. Finally, PFS Partners LLC bought a new position in Devon Energy during the 4th quarter worth approximately $36,000. Institutional investors and hedge funds own 69.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on DVN shares. Scotiabank lifted their price objective on shares of Devon Energy from $53.00 to $67.00 and gave the stock a “sector outperform” rating in a research note on Thursday, April 11th. Bank of America reissued a “buy” rating and set a $64.00 price objective on shares of Devon Energy in a research note on Friday, June 14th. Stifel Nicolaus lifted their price objective on shares of Devon Energy from $65.00 to $66.00 and gave the stock a “buy” rating in a research note on Tuesday, April 23rd. Mizuho raised their target price on shares of Devon Energy from $57.00 to $61.00 and gave the stock a “buy” rating in a report on Monday, May 13th. Finally, JPMorgan Chase & Co. raised their target price on shares of Devon Energy from $57.00 to $62.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $59.24.

Insiders Place Their Bets

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

Devon Energy Stock Up 0.8 %

DVN traded up $0.37 during trading on Monday, reaching $47.77. 335,794 shares of the stock were exchanged, compared to its average volume of 7,313,260. The stock has a market cap of $30.19 billion, a P/E ratio of 9.05, a price-to-earnings-growth ratio of 1.25 and a beta of 2.07. Devon Energy Co. has a twelve month low of $40.47 and a twelve month high of $55.09. The stock’s 50 day moving average price is $48.73 and its two-hundred day moving average price is $46.93. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.97 and a current ratio of 1.04.

Devon Energy (NYSE:DVN) last issued its earnings results on Wednesday, May 1st. The energy company reported $1.16 earnings per share for the quarter, topping 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 business had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.64 billion. During the same period in the previous year, the company earned $1.46 earnings per share. The firm’s revenue for the quarter was down 5.9% on a year-over-year basis. Equities analysts expect that Devon Energy Co. will post 5.25 EPS for the current year.

Devon Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $0.88 dividend on an annualized basis and a yield of 1.84%. Devon Energy’s dividend payout ratio (DPR) is 16.79%.

Devon Energy 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.