Devon Energy Co. (NYSE:DVN) Stock Position Decreased by NBC Securities Inc.

NBC Securities Inc. cut its stake in shares of Devon Energy Co. (NYSE:DVN) by 3.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,225 shares of the energy company’s stock after selling 272 shares during the period. NBC Securities Inc.’s holdings in Devon Energy were worth $282,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Cliftonlarsonallen Wealth Advisors LLC lifted its stake in Devon Energy by 0.3% during the third quarter. Cliftonlarsonallen Wealth Advisors LLC now owns 97,974 shares of the energy company’s stock valued at $3,833,000 after buying an additional 323 shares in the last quarter. Creative Planning boosted its stake in Devon Energy by 33.6% in the 3rd quarter. Creative Planning now owns 132,206 shares of the energy company’s stock worth $5,172,000 after purchasing an additional 33,249 shares during the period. Adamsbrown Wealth Consultants LLC grew its position in Devon Energy by 12.0% during the 3rd quarter. Adamsbrown Wealth Consultants LLC now owns 9,885 shares of the energy company’s stock worth $387,000 after purchasing an additional 1,056 shares in the last quarter. Oliver Luxxe Assets LLC raised its stake in Devon Energy by 2.5% during the 3rd quarter. Oliver Luxxe Assets LLC now owns 116,487 shares of the energy company’s stock valued at $4,557,000 after purchasing an additional 2,847 shares during the period. Finally, Shikiar Asset Management Inc. lifted its holdings in shares of Devon Energy by 63.4% in the third quarter. Shikiar Asset Management Inc. now owns 185,955 shares of the energy company’s stock valued at $7,275,000 after purchasing an additional 72,155 shares in the last quarter. 69.72% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on DVN. Morgan Stanley lowered their price target on Devon Energy from $55.00 to $51.00 and set an “overweight” rating on the stock in a report on Monday, September 16th. Sanford C. Bernstein lowered their target price on Devon Energy from $48.00 to $43.00 and set a “market perform” rating on the stock in a research note on Wednesday, July 17th. Benchmark reissued a “hold” rating on shares of Devon Energy in a research report on Tuesday. JPMorgan Chase & Co. lowered their price objective on shares of Devon Energy from $64.00 to $51.00 and set an “overweight” rating on the stock in a research report on Thursday, September 12th. Finally, Jefferies Financial Group assumed coverage on shares of Devon Energy in a research note on Thursday, October 3rd. They issued a “hold” rating and a $45.00 price objective on the stock. Nine research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Devon Energy presently has a consensus rating of “Moderate Buy” and an average price target of $52.53.

Devon Energy Stock Performance

Shares of DVN opened at $40.66 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.11 and a quick ratio of 1.03. Devon Energy Co. has a one year low of $37.76 and a one year high of $55.09. The company’s fifty day moving average price is $42.15 and its 200 day moving average price is $46.32. The company has a market capitalization of $25.70 billion, a PE ratio of 7.76, a price-to-earnings-growth ratio of 1.27 and a beta of 2.02.

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

Devon Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were paid a $0.22 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.88 annualized dividend and a dividend yield of 2.16%. Devon Energy’s payout ratio is 16.79%.

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.