International Assets Investment Management LLC Has $1.72 Million Stake in Devon Energy Co. (NYSE:DVN)

International Assets Investment Management LLC reduced its stake in Devon Energy Co. (NYSE:DVN) by 97.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 51,397 shares of the energy company’s stock after selling 2,229,564 shares during the quarter. International Assets Investment Management LLC’s holdings in Devon Energy were worth $1,717,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in DVN. Private Advisor Group LLC grew its holdings in shares of Devon Energy by 6.3% during the second quarter. Private Advisor Group LLC now owns 83,609 shares of the energy company’s stock worth $3,963,000 after buying an additional 4,975 shares in the last quarter. Candriam S.C.A. grew its stake in shares of Devon Energy by 18.5% during the 2nd quarter. Candriam S.C.A. now owns 43,822 shares of the energy company’s stock worth $2,077,000 after acquiring an additional 6,850 shares in the last quarter. Acadian Asset Management LLC grew its stake in shares of Devon Energy by 1,061.4% during the 2nd quarter. Acadian Asset Management LLC now owns 99,624 shares of the energy company’s stock worth $4,719,000 after acquiring an additional 91,046 shares in the last quarter. Caprock Group LLC raised its holdings in shares of Devon Energy by 100.1% in the second quarter. Caprock Group LLC now owns 23,573 shares of the energy company’s stock valued at $1,117,000 after purchasing an additional 11,794 shares during the last quarter. Finally, Ballentine Partners LLC lifted its position in shares of Devon Energy by 5.0% in the second quarter. Ballentine Partners LLC now owns 9,501 shares of the energy company’s stock worth $450,000 after purchasing an additional 453 shares in the last quarter. 69.72% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

DVN has been the topic of several recent research reports. UBS Group lowered their price target on shares of Devon Energy from $53.00 to $47.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 18th. Morgan Stanley dropped their target price on Devon Energy from $55.00 to $51.00 and set an “overweight” rating on the stock in a report on Monday, September 16th. Scotiabank decreased their price target on Devon Energy from $60.00 to $48.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Benchmark reiterated a “hold” rating on shares of Devon Energy in a research note on Tuesday, October 15th. Finally, Barclays decreased their target price on shares of Devon Energy from $55.00 to $46.00 and set an “equal weight” rating for the company in a research note on Thursday, October 3rd. Eleven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $49.81.

Devon Energy Stock Performance

NYSE:DVN opened at $35.15 on Thursday. The stock has a 50 day simple moving average of $35.74 and a 200 day simple moving average of $40.77. The stock has a market cap of $23.09 billion, a P/E ratio of 6.52, a PEG ratio of 1.10 and a beta of 2.00. Devon Energy Co. has a 1-year low of $30.39 and a 1-year high of $55.09. The company has a current ratio of 1.11, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61.

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

Devon Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Friday, December 13th were issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date was Friday, December 13th. 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.