Valeo Financial Advisors LLC Sells 2,650 Shares of Devon Energy Co. (NYSE:DVN)

Valeo Financial Advisors LLC lessened its stake in shares of Devon Energy Co. (NYSE:DVN) by 14.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,241 shares of the energy company’s stock after selling 2,650 shares during the period. Valeo Financial Advisors LLC’s holdings in Devon Energy were worth $635,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in Devon Energy by 3.5% in the 1st quarter. Vanguard Group Inc. now owns 76,457,056 shares of the energy company’s stock worth $3,836,615,000 after acquiring an additional 2,559,039 shares during the period. Pacer Advisors Inc. grew its position in shares of Devon Energy by 16.8% in the second quarter. Pacer Advisors Inc. now owns 9,913,516 shares of the energy company’s stock valued at $469,901,000 after purchasing an additional 1,428,776 shares during the last quarter. Los Angeles Capital Management LLC increased its stake in shares of Devon Energy by 7,165.6% in the second quarter. Los Angeles Capital Management LLC now owns 1,376,253 shares of the energy company’s stock worth $65,234,000 after purchasing an additional 1,357,311 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Devon Energy by 16.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 8,793,217 shares of the energy company’s stock worth $416,779,000 after purchasing an additional 1,255,543 shares during the last quarter. Finally, National Bank of Canada FI grew its holdings in Devon Energy by 447.6% in the 2nd quarter. National Bank of Canada FI now owns 1,179,538 shares of the energy company’s stock valued at $56,299,000 after buying an additional 964,147 shares during the last quarter. Institutional investors own 69.72% of the company’s stock.

Devon Energy Stock Up 0.2 %

Shares of NYSE:DVN opened at $42.96 on Monday. Devon Energy Co. has a 12 month low of $37.76 and a 12 month high of $55.09. The firm has a market cap of $27.15 billion, a P/E ratio of 8.20, a P/E/G ratio of 1.27 and a beta of 2.02. The company has a quick ratio of 1.03, a current ratio of 1.11 and a debt-to-equity ratio of 0.45. The company’s 50-day moving average price is $42.37 and its two-hundred day moving average price is $46.58.

Devon Energy (NYSE:DVN) last issued its quarterly earnings results on Tuesday, August 6th. The energy company reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.15. Devon Energy had a net margin of 22.60% and a return on equity of 29.14%. The business had revenue of $3.92 billion during the quarter, compared to analyst estimates of $3.90 billion. During the same quarter last year, the business posted $1.18 earnings per share. Devon Energy’s revenue for the quarter was up 13.4% compared to the same quarter last year. As a group, research analysts forecast that Devon Energy Co. will post 5.01 EPS for the current fiscal year.

Devon Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.05%. The ex-dividend date was Friday, September 13th. Devon Energy’s dividend payout ratio (DPR) is presently 16.79%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on DVN shares. UBS Group reduced their price objective on Devon Energy from $53.00 to $47.00 and set a “neutral” rating for the company in a research report on Wednesday, September 18th. Scotiabank dropped their price objective on shares of Devon Energy from $60.00 to $48.00 and set a “sector outperform” rating on the stock in a report on Thursday. Wells Fargo & Company cut their target price on Devon Energy from $55.00 to $50.00 and set an “overweight” rating for the company in a research note on Tuesday, October 1st. Susquehanna reduced their price objective on shares of Devon Energy from $65.00 to $63.00 and set a “positive” rating for the company in a report on Wednesday, September 4th. Finally, Wolfe Research assumed coverage on shares of Devon Energy in a research note on Thursday, July 18th. They issued a “peer perform” rating on the stock. Eight equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, Devon Energy has an average rating of “Moderate Buy” and a consensus price target of $52.63.

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.