Fisher Asset Management LLC Sells 5,793 Shares of Devon Energy Co. (NYSE:DVN)

Fisher Asset Management LLC trimmed its position in shares of Devon Energy Co. (NYSE:DVN) by 4.4% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 125,681 shares of the energy company’s stock after selling 5,793 shares during the period. Fisher Asset Management LLC’s holdings in Devon Energy were worth $4,917,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of DVN. International Assets Investment Management LLC boosted its position in Devon Energy by 4,125.7% during the 3rd quarter. International Assets Investment Management LLC now owns 2,280,961 shares of the energy company’s stock valued at $89,231,000 after acquiring an additional 2,226,983 shares in the last quarter. Pacer Advisors Inc. boosted its position in Devon Energy by 16.9% during the 3rd quarter. Pacer Advisors Inc. now owns 11,591,168 shares of the energy company’s stock valued at $453,446,000 after acquiring an additional 1,677,652 shares in the last quarter. Los Angeles Capital Management LLC boosted its position in Devon Energy by 7,165.6% during the 2nd quarter. Los Angeles Capital Management LLC now owns 1,376,253 shares of the energy company’s stock valued at $65,234,000 after acquiring an additional 1,357,311 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in 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 valued at $416,779,000 after acquiring an additional 1,255,543 shares in the last quarter. Finally, National Bank of Canada FI boosted its position in Devon Energy by 447.6% during 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 acquiring an additional 964,147 shares in the last quarter. 69.72% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Truist Financial cut Devon Energy from a “buy” rating to a “hold” rating and dropped their price target for the stock from $49.00 to $43.00 in a research report on Thursday, November 7th. Barclays dropped their price target on Devon Energy from $55.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 3rd. Morgan Stanley dropped their price target on Devon Energy from $55.00 to $51.00 and set an “overweight” rating on the stock in a research report on Monday, September 16th. Raymond James dropped their price target on Devon Energy from $58.00 to $51.00 in a research report on Tuesday, November 5th. Finally, Evercore ISI dropped their price target on Devon Energy from $55.00 to $50.00 and set an “in-line” rating on the stock in a research report on Monday, September 30th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $51.15.

Devon Energy Trading Up 0.3 %

Shares of DVN stock opened at $37.84 on Friday. Devon Energy Co. has a 1 year low of $37.28 and a 1 year high of $55.09. The firm has a fifty day moving average price of $39.80 and a 200-day moving average price of $43.69. The company has a market cap of $24.86 billion, a price-to-earnings ratio of 7.02, a PEG ratio of 1.21 and a beta of 2.03. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.11 and a quick ratio of 1.01.

Devon Energy (NYSE:DVN) last announced its earnings results on Tuesday, November 5th. The energy company reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $0.01. Devon Energy had a return on equity of 24.73% and a net margin of 21.71%. The company had revenue of $4.02 billion for the quarter, compared to analysts’ expectations of $3.72 billion. During the same period last year, the firm earned $1.65 EPS. Devon Energy’s revenue for the quarter was up 4.9% compared to the same quarter last year. As a group, equities analysts predict that Devon Energy Co. will post 4.79 earnings per share for the current year.

Devon Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.88 dividend on an annualized basis and a yield of 2.33%. Devon Energy’s dividend payout ratio is currently 16.33%.

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.