Devon Energy Co. (NYSE:DVN) Shares Sold by RPG Investment Advisory LLC

RPG Investment Advisory LLC lessened its stake in Devon Energy Co. (NYSE:DVN) by 2.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 248,758 shares of the energy company’s stock after selling 6,321 shares during the period. RPG Investment Advisory LLC’s holdings in Devon Energy were worth $8,142,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in DVN. Capital Performance Advisors LLP acquired a new stake in Devon Energy in the 3rd quarter valued at approximately $35,000. Cromwell Holdings LLC increased its holdings in Devon Energy by 98.0% in the 4th quarter. Cromwell Holdings LLC now owns 1,208 shares of the energy company’s stock valued at $40,000 after purchasing an additional 598 shares during the last quarter. Sierra Ocean LLC acquired a new position in shares of Devon Energy in the fourth quarter worth $43,000. True Wealth Design LLC grew its stake in shares of Devon Energy by 3,889.3% in the third quarter. True Wealth Design LLC now owns 1,117 shares of the energy company’s stock worth $44,000 after acquiring an additional 1,089 shares in the last quarter. Finally, Hazlett Burt & Watson Inc. grew its stake 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 worth $49,000 after acquiring an additional 290 shares in the last quarter. Institutional investors and hedge funds own 69.72% of the company’s stock.

Devon Energy Price Performance

Shares of DVN opened at $37.49 on Monday. Devon Energy Co. has a 1-year low of $30.39 and a 1-year high of $55.09. The stock has a market cap of $24.33 billion, a PE ratio of 8.22, a price-to-earnings-growth ratio of 1.20 and a beta of 1.98. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 1.01. The firm has a fifty day moving average price of $34.47 and a 200 day moving average price of $38.31.

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

Devon Energy Increases Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Friday, March 14th. This is a positive change from Devon Energy’s previous quarterly dividend of $0.22. This represents a $0.96 dividend on an annualized basis and a yield of 2.56%. Devon Energy’s payout ratio is currently 19.30%.

Analysts Set New Price Targets

Several research firms have commented on DVN. Barclays boosted their price target 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. StockNews.com upgraded shares of Devon Energy from a “sell” rating to a “hold” rating in a research note on Friday, January 3rd. Citigroup dropped their price target on shares of Devon Energy from $55.00 to $48.00 and set a “buy” rating for the company in a research note on Tuesday, November 26th. Royal Bank of Canada restated a “sector perform” rating and issued a $50.00 price target on shares of Devon Energy in a research note on Friday, January 10th. Finally, Raymond James boosted their price target on shares of Devon Energy from $53.00 to $54.00 and gave the stock an “outperform” rating in a research note on Thursday, January 23rd. Ten analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $48.83.

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.