Dakota Wealth Management Sells 2,125 Shares of Devon Energy Co. (NYSE:DVN)

Dakota Wealth Management lessened its position in shares of Devon Energy Co. (NYSE:DVN) by 28.5% in the third quarter, HoldingsChannel reports. The fund owned 5,330 shares of the energy company’s stock after selling 2,125 shares during the period. Dakota Wealth Management’s holdings in Devon Energy were worth $209,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. William B. Walkup & Associates Inc. acquired a new stake in Devon Energy during the 2nd quarter worth approximately $1,026,000. Tradewinds Capital Management LLC bought a new position in Devon Energy during the 1st quarter worth $30,000. Gordian Capital Singapore Pte Ltd acquired a new stake in shares of Devon Energy during the second quarter worth $711,000. CWM LLC boosted its position in shares of Devon Energy by 73.4% in the third quarter. CWM LLC now owns 38,969 shares of the energy company’s stock valued at $1,524,000 after acquiring an additional 16,490 shares during the period. Finally, Ritholtz Wealth Management grew its stake in shares of Devon Energy by 212.7% in the third quarter. Ritholtz Wealth Management now owns 32,226 shares of the energy company’s stock valued at $1,261,000 after acquiring an additional 21,920 shares in the last quarter. Institutional investors and hedge funds own 69.72% of the company’s stock.

Devon Energy Stock Performance

NYSE DVN opened at $38.58 on Tuesday. The firm’s fifty day moving average price is $41.49 and its two-hundred day moving average price is $45.64. The stock has a market cap of $24.16 billion, a PE ratio of 7.00, a PEG ratio of 1.22 and a beta of 2.02. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.03 and a current ratio of 1.11. Devon Energy Co. has a fifty-two week low of $37.76 and a fifty-two week high of $55.09.

Devon Energy (NYSE:DVN) last issued its quarterly earnings data on Tuesday, August 6th. The energy company reported $1.41 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.15. The business had revenue of $3.92 billion for the quarter, compared to analyst estimates of $3.90 billion. Devon Energy had a return on equity of 29.14% and a net margin of 22.60%. Devon Energy’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.18 EPS. On average, equities analysts expect that Devon Energy Co. will post 4.98 EPS for the current fiscal year.

Devon Energy Dividend Announcement

The company 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. This represents a $0.88 annualized dividend and a dividend yield of 2.28%. The ex-dividend date was Friday, September 13th. Devon Energy’s dividend payout ratio is currently 15.97%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on DVN. Evercore ISI dropped their price objective on shares of Devon Energy from $55.00 to $50.00 and set an “in-line” rating for the company in a research note on Monday, September 30th. Sanford C. Bernstein cut their price target on Devon Energy from $48.00 to $43.00 and set a “market perform” rating for the company in a research note on Wednesday, July 17th. Barclays lowered their price objective on Devon Energy from $55.00 to $46.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 3rd. Susquehanna cut their target price on Devon Energy from $63.00 to $62.00 and set a “positive” rating for the company in a research report on Friday, October 18th. Finally, Benchmark restated a “hold” rating on shares of Devon Energy in a research report on Tuesday, October 15th. Nine analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $52.53.

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.