Fidelis Capital Partners LLC Cuts Position in Devon Energy Co. (NYSE:DVN)

Fidelis Capital Partners LLC lowered its position in shares of Devon Energy Co. (NYSE:DVN) by 16.4% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 5,297 shares of the energy company’s stock after selling 1,040 shares during the quarter. Fidelis Capital Partners LLC’s holdings in Devon Energy were worth $209,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of DVN. Whittier Trust Co. of Nevada Inc. increased its position in shares of Devon Energy by 7.4% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 3,046 shares of the energy company’s stock worth $153,000 after acquiring an additional 209 shares in the last quarter. Annex Advisory Services LLC boosted its position in Devon Energy by 0.8% during the 2nd quarter. Annex Advisory Services LLC now owns 27,651 shares of the energy company’s stock worth $1,311,000 after purchasing an additional 223 shares during the period. Versant Capital Management Inc increased its holdings in Devon Energy by 30.4% in the 2nd quarter. Versant Capital Management Inc now owns 970 shares of the energy company’s stock valued at $46,000 after purchasing an additional 226 shares in the last quarter. Magnolia Capital Advisors LLC raised its position in Devon Energy by 1.0% in the first quarter. Magnolia Capital Advisors LLC now owns 23,316 shares of the energy company’s stock valued at $1,208,000 after purchasing an additional 230 shares during the period. Finally, Archer Investment Corp lifted its stake in shares of Devon Energy by 2.8% during the second quarter. Archer Investment Corp now owns 8,535 shares of the energy company’s stock worth $405,000 after purchasing an additional 235 shares in the last quarter. Institutional investors and hedge funds own 69.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on DVN shares. Wells Fargo & Company restated a “sector outperform” rating on shares of Devon Energy in a report on Friday, October 18th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $57.00 target price on shares of Devon Energy in a research report on Tuesday, September 3rd. Sanford C. Bernstein lowered their price objective 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. Susquehanna cut their target price on Devon Energy from $63.00 to $62.00 and set a “positive” rating on the stock in a research report on Friday, October 18th. Finally, Scotiabank decreased their price target on shares of Devon Energy from $60.00 to $48.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Nine research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Devon Energy presently has an average rating of “Moderate Buy” and a consensus target price of $52.53.

Devon Energy Stock Up 0.9 %

Shares of DVN stock opened at $38.69 on Friday. The business’s fifty day moving average is $41.26 and its 200-day moving average is $45.48. The stock has a market cap of $24.23 billion, a PE ratio of 7.02, a price-to-earnings-growth ratio of 1.22 and a beta of 2.02. Devon Energy Co. has a 1 year low of $37.76 and a 1 year high of $55.09. 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 (NYSE:DVN) last announced its quarterly earnings data on Tuesday, August 6th. The energy company reported $1.41 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.15. The company had revenue of $3.92 billion during the quarter, compared to the consensus estimate of $3.90 billion. Devon Energy had a return on equity of 29.14% and a net margin of 22.60%. The company’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.18 EPS. Equities analysts expect that Devon Energy Co. will post 4.98 earnings per share for the current fiscal year.

Devon Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were given a $0.22 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.88 annualized dividend and a dividend yield of 2.27%. Devon Energy’s dividend payout ratio (DPR) is presently 15.97%.

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.