Prudential Financial Inc. Trims Position in Devon Energy Co. (NYSE:DVN)

Prudential Financial Inc. trimmed its position in Devon Energy Co. (NYSE:DVN) by 64.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 521,012 shares of the energy company’s stock after selling 924,679 shares during the period. Prudential Financial Inc. owned about 0.08% of Devon Energy worth $17,053,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Cromwell Holdings LLC boosted its holdings in shares of Devon Energy by 98.0% in the fourth quarter. Cromwell Holdings LLC now owns 1,208 shares of the energy company’s stock worth $40,000 after buying an additional 598 shares during the last quarter. Sierra Ocean LLC bought a new stake in shares of Devon Energy during the 4th quarter valued at $43,000. True Wealth Design LLC increased its stake in shares of 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. Endeavor Private Wealth Inc. bought a new position in Devon Energy in the 4th quarter worth $52,000. Finally, Thompson Investment Management Inc. lifted its position in Devon Energy by 60.0% during the fourth quarter. Thompson Investment Management Inc. now owns 1,600 shares of the energy company’s stock valued at $52,000 after purchasing an additional 600 shares in the last quarter. 69.72% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

DVN has been the subject of a number of analyst reports. Citigroup reduced their price target on Devon Energy from $48.00 to $46.00 and set a “buy” rating for the company in a research report on Monday, March 17th. StockNews.com raised shares of Devon Energy from a “sell” rating to a “hold” rating in a report on Friday, January 3rd. Susquehanna lifted their price target on shares of Devon Energy from $50.00 to $52.00 and gave the company a “positive” rating in a report on Thursday, February 20th. Barclays increased their price objective on shares of Devon Energy from $43.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 20th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $50.00 price objective on shares of Devon Energy in a research report on Friday, January 10th. Ten investment 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 $48.29.

Devon Energy Trading Down 1.4 %

DVN stock opened at $36.95 on Friday. The stock has a market capitalization of $23.98 billion, a price-to-earnings ratio of 8.10, a price-to-earnings-growth ratio of 1.20 and a beta of 1.91. Devon Energy Co. has a twelve month low of $30.39 and a twelve month high of $55.09. The firm’s fifty day simple moving average is $35.41 and its two-hundred day simple moving average is $36.92. The company has a quick ratio of 1.01, a current ratio of 1.04 and a debt-to-equity ratio of 0.57.

Devon Energy (NYSE:DVN) last announced its earnings results on Tuesday, February 18th. The energy company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.16. Devon Energy had a return on equity of 22.52% and a net margin of 18.14%. The business had revenue of $4.40 billion during the quarter, compared to analyst estimates of $4.25 billion. As a group, analysts anticipate that Devon Energy Co. will post 4.85 earnings per share for the current year.

Devon Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a $0.24 dividend. This is a positive change from Devon Energy’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.96 dividend on an annualized basis and a yield of 2.60%. Devon Energy’s dividend payout ratio (DPR) is presently 21.05%.

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.