Accel Wealth Management Decreases Stock Holdings in Devon Energy Co. (NYSE:DVN)

Accel Wealth Management lessened its stake in Devon Energy Co. (NYSE:DVN) by 5.5% in the 4th quarter, Holdings Channel.com reports. The fund owned 12,943 shares of the energy company’s stock after selling 756 shares during the quarter. Accel Wealth Management’s holdings in Devon Energy were worth $424,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in DVN. Riversedge Advisors LLC boosted its stake in shares of Devon Energy by 3.6% in the third quarter. Riversedge Advisors LLC now owns 7,336 shares of the energy company’s stock worth $287,000 after acquiring an additional 253 shares during the last quarter. Modus Advisors LLC boosted its stake in Devon Energy by 2.4% during the 3rd quarter. Modus Advisors LLC now owns 11,439 shares of the energy company’s stock worth $447,000 after purchasing an additional 272 shares during the last quarter. Lummis Asset Management LP grew its holdings in shares of Devon Energy by 1.0% during the second quarter. Lummis Asset Management LP now owns 30,055 shares of the energy company’s stock worth $1,425,000 after buying an additional 290 shares in the last quarter. Hazlett Burt & Watson Inc. raised its position in shares of Devon Energy by 29.8% in the third quarter. Hazlett Burt & Watson Inc. now owns 1,263 shares of the energy company’s stock valued at $49,000 after buying an additional 290 shares during the last quarter. Finally, Sfmg LLC lifted its stake in shares of Devon Energy by 0.5% in the third quarter. Sfmg LLC now owns 64,871 shares of the energy company’s stock worth $2,538,000 after buying an additional 294 shares in the last quarter. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. StockNews.com raised shares of Devon Energy from a “sell” rating to a “hold” rating in a research note on Friday, January 3rd. TD Cowen dropped their price target on Devon Energy from $54.00 to $46.00 and set a “hold” rating for the company in a research report on Tuesday, November 5th. JPMorgan Chase & Co. downgraded Devon Energy from an “overweight” rating to a “neutral” rating and set a $43.00 price objective on the stock. in a research report on Thursday, December 5th. Wolfe Research upgraded Devon Energy from a “peer perform” rating to an “outperform” rating and set a $45.00 target price for the company in a report on Friday, January 3rd. Finally, Mizuho cut their target price on Devon Energy from $51.00 to $47.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. Nine investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Devon Energy presently has an average rating of “Moderate Buy” and an average target price of $49.41.

Devon Energy Price Performance

DVN opened at $35.98 on Friday. The firm has a market cap of $23.64 billion, a price-to-earnings ratio of 6.68, a PEG ratio of 1.21 and a beta of 2.00. The company has a current ratio of 1.11, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. The stock’s 50-day moving average price is $35.27 and its 200 day moving average price is $39.95. Devon Energy Co. has a 12-month low of $30.39 and a 12-month high of $55.09.

Devon Energy (NYSE:DVN) last posted its quarterly earnings data 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 business’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.65 earnings per share. As a group, sell-side analysts expect that Devon Energy Co. will post 4.7 earnings per share for the current year.

Devon Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Friday, December 13th were paid a $0.22 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.88 annualized dividend and a dividend yield of 2.45%. Devon Energy’s dividend payout ratio (DPR) is 16.33%.

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.