Devon Energy Co. (NYSE:DVN) Shares Sold by Field & Main Bank

Field & Main Bank reduced its position in shares of Devon Energy Co. (NYSE:DVN) by 42.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,190 shares of the energy company’s stock after selling 4,640 shares during the period. Field & Main Bank’s holdings in Devon Energy were worth $203,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of DVN. Capital Performance Advisors LLP bought a new stake in shares of Devon Energy during the 3rd quarter worth $35,000. Future Financial Wealth Managment LLC acquired a new position in shares of Devon Energy in the 3rd quarter valued at $39,000. True Wealth Design LLC increased its stake in Devon Energy by 3,889.3% in the 3rd quarter. True Wealth Design LLC now owns 1,117 shares of the energy company’s stock worth $44,000 after purchasing an additional 1,089 shares in the last quarter. Hazlett Burt & Watson Inc. raised its holdings in Devon Energy by 29.8% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 1,263 shares of the energy company’s stock worth $49,000 after buying an additional 290 shares during the period. Finally, Activest Wealth Management lifted its stake in Devon Energy by 60.4% during the third quarter. Activest Wealth Management now owns 1,275 shares of the energy company’s stock valued at $50,000 after buying an additional 480 shares in the last quarter. 69.72% of the stock is currently owned by institutional investors.

Devon Energy Trading Down 0.3 %

Shares of NYSE:DVN opened at $34.76 on Wednesday. Devon Energy Co. has a 52-week low of $30.39 and a 52-week high of $55.09. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.11. The company has a market cap of $22.83 billion, a P/E ratio of 6.43, a P/E/G ratio of 1.21 and a beta of 2.00. The stock’s 50-day moving average is $35.14 and its 200-day moving average is $39.70.

Devon Energy (NYSE:DVN) last issued its quarterly earnings results on Tuesday, November 5th. The energy company reported $1.10 EPS for the quarter, topping the consensus estimate of $1.09 by $0.01. Devon Energy had a return on equity of 24.73% and a net margin of 21.71%. The company had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $3.72 billion. During the same period in the previous year, the business posted $1.65 EPS. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. Equities research analysts predict that Devon Energy Co. will post 4.7 earnings per share for the current year.

Devon Energy Dividend Announcement

The business also recently declared 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 2.53%. The ex-dividend date was Friday, December 13th. Devon Energy’s dividend payout ratio (DPR) is presently 16.33%.

Analyst Ratings Changes

Several brokerages recently commented on DVN. Jefferies Financial Group assumed coverage on shares of Devon Energy in a research report on Thursday, October 3rd. They issued a “hold” rating and a $45.00 price target for the company. Susquehanna reduced their target price on Devon Energy from $63.00 to $62.00 and set a “positive” rating for the company in a report on Friday, October 18th. Raymond James lifted their price target on Devon Energy from $53.00 to $54.00 and gave the company an “outperform” rating in a report on Thursday, January 23rd. StockNews.com upgraded shares of Devon Energy from a “sell” rating to a “hold” rating in a research report on Friday, January 3rd. Finally, Mizuho lowered their price target on shares of Devon Energy from $51.00 to $47.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. Nine investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, Devon Energy currently has an average rating of “Moderate Buy” and an average price target of $49.45.

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.