CVA Family Office LLC Has $71,000 Stock Position in Devon Energy Co. (NYSE:DVN)

CVA Family Office LLC cut its holdings in shares of Devon Energy Co. (NYSE:DVN) by 46.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,811 shares of the energy company’s stock after selling 1,567 shares during the quarter. CVA Family Office LLC’s holdings in Devon Energy were worth $71,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Devon Energy by 3.5% during the 1st quarter. Vanguard Group Inc. now owns 76,457,056 shares of the energy company’s stock valued at $3,836,615,000 after purchasing an additional 2,559,039 shares during the last quarter. Pacer Advisors Inc. lifted its stake in shares of Devon Energy by 16.8% in the second quarter. Pacer Advisors Inc. now owns 9,913,516 shares of the energy company’s stock valued at $469,901,000 after buying an additional 1,428,776 shares during the period. Raymond James & Associates grew its position in Devon Energy by 1.5% during the second quarter. Raymond James & Associates now owns 9,183,778 shares of the energy company’s stock worth $435,311,000 after buying an additional 138,919 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in 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 acquiring an additional 1,255,543 shares during the period. Finally, Thrivent Financial for Lutherans raised its holdings in Devon Energy by 15.9% in the 2nd quarter. Thrivent Financial for Lutherans now owns 5,094,017 shares of the energy company’s stock valued at $241,456,000 after acquiring an additional 699,743 shares in the last quarter. 69.72% of the stock is owned by institutional investors.

Devon Energy Stock Up 0.2 %

Shares of NYSE DVN opened at $42.96 on Monday. Devon Energy Co. has a 12-month low of $37.76 and a 12-month high of $55.09. The firm’s 50-day simple moving average is $42.37 and its 200 day simple moving average is $46.58. The company has a quick ratio of 1.03, a current ratio of 1.11 and a debt-to-equity ratio of 0.45. The company has a market cap of $27.15 billion, a price-to-earnings ratio of 8.20, a price-to-earnings-growth ratio of 1.27 and a beta of 2.02.

Devon Energy (NYSE:DVN) last announced its earnings results on Tuesday, August 6th. The energy company reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.15. The company had revenue of $3.92 billion for the quarter, compared to analyst estimates of $3.90 billion. Devon Energy had a net margin of 22.60% and a return on equity of 29.14%. Devon Energy’s quarterly revenue was up 13.4% on a year-over-year basis. During the same period in the prior year, the business earned $1.18 earnings per share. On average, research analysts expect that Devon Energy Co. will post 5.01 earnings per share for the current fiscal year.

Devon Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were paid a $0.22 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.88 annualized dividend and a dividend yield of 2.05%. Devon Energy’s dividend payout ratio (DPR) is currently 16.79%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on DVN shares. Wells Fargo & Company lowered their price objective on Devon Energy from $55.00 to $50.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 1st. Morgan Stanley lowered their price target on shares of Devon Energy from $55.00 to $51.00 and set an “overweight” rating on the stock in a report on Monday, September 16th. BMO Capital Markets reduced their price objective on shares of Devon Energy from $52.00 to $48.00 and set an “outperform” rating for the company in a report on Friday, October 4th. StockNews.com cut shares of Devon Energy from a “buy” rating to a “hold” rating in a research note on Monday, September 2nd. Finally, Susquehanna dropped their price target on shares of Devon Energy from $65.00 to $63.00 and set a “positive” rating for the company in a research report on Wednesday, September 4th. Eight analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $52.63.

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.