Devon Energy Co. (NYSE:DVN) Shares Sold by Natixis Advisors LLC

Natixis Advisors LLC lessened its stake in shares of Devon Energy Co. (NYSE:DVN) by 26.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 246,639 shares of the energy company’s stock after selling 88,243 shares during the quarter. Natixis Advisors LLC’s holdings in Devon Energy were worth $9,649,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Victory Capital Management Inc. boosted its holdings in Devon Energy by 3.8% during the third quarter. Victory Capital Management Inc. now owns 9,971,343 shares of the energy company’s stock worth $390,079,000 after buying an additional 361,968 shares in the last quarter. Pacer Advisors Inc. raised its stake in Devon Energy by 16.8% during the 2nd quarter. Pacer Advisors Inc. now owns 9,913,516 shares of the energy company’s stock valued at $469,901,000 after purchasing an additional 1,428,776 shares during the period. Raymond James & Associates lifted its holdings in shares of Devon Energy by 1.5% in the second quarter. Raymond James & Associates now owns 9,183,778 shares of the energy company’s stock valued at $435,311,000 after purchasing an additional 138,919 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Devon Energy by 16.7% during the second quarter. Dimensional Fund Advisors LP now owns 8,793,217 shares of the energy company’s stock valued at $416,779,000 after buying an additional 1,255,543 shares in the last quarter. Finally, Thrivent Financial for Lutherans raised its position in Devon Energy by 15.9% during the second quarter. Thrivent Financial for Lutherans now owns 5,094,017 shares of the energy company’s stock valued at $241,456,000 after buying an additional 699,743 shares during the period. Institutional investors own 69.72% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on DVN. Wells Fargo & Company dropped their price target on shares of Devon Energy from $50.00 to $49.00 and set an “overweight” rating on the stock in a research note on Thursday, November 7th. Scotiabank decreased their target price 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. Jefferies Financial Group initiated coverage on shares of Devon Energy in a report on Thursday, October 3rd. They set a “hold” rating and a $45.00 price target on the stock. Evercore ISI lowered their target price on shares of 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. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $57.00 price target on shares of Devon Energy in a research note on Tuesday, September 3rd. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $51.85.

Devon Energy Stock Performance

Devon Energy stock opened at $38.77 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.11 and a quick ratio of 1.01. The company’s 50-day moving average is $39.94 and its 200 day moving average is $44.08. Devon Energy Co. has a 1-year low of $37.76 and a 1-year high of $55.09. The firm has a market capitalization of $25.47 billion, a P/E ratio of 7.19, a price-to-earnings-growth ratio of 1.20 and a beta of 2.03.

Devon Energy (NYSE:DVN) last released its quarterly earnings results on Tuesday, November 5th. The energy company reported $1.10 EPS for the quarter, beating the consensus estimate of $1.09 by $0.01. The business had revenue of $4.02 billion during the quarter, compared to analyst estimates of $3.72 billion. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%. The company’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.65 earnings per share. Research analysts forecast that Devon Energy Co. will post 4.81 EPS for the current year.

Devon Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 2.27%. The ex-dividend date of this dividend is Friday, December 13th. Devon Energy’s payout ratio is 16.33%.

About Devon Energy

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.