Aptus Capital Advisors LLC Sells 168,771 Shares of Devon Energy Co. (NYSE:DVN)

Aptus Capital Advisors LLC lowered its position in Devon Energy Co. (NYSE:DVN) by 90.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,132 shares of the energy company’s stock after selling 168,771 shares during the period. Aptus Capital Advisors LLC’s holdings in Devon Energy were worth $670,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its holdings 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 worth $3,836,615,000 after acquiring an additional 2,559,039 shares during the last quarter. International Assets Investment Management LLC boosted its position in Devon Energy by 4,125.7% in the 3rd quarter. International Assets Investment Management LLC now owns 2,280,961 shares of the energy company’s stock valued at $89,231,000 after buying an additional 2,226,983 shares during the last quarter. Pacer Advisors Inc. increased its stake in shares of Devon Energy by 16.8% in the 2nd 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. Los Angeles Capital Management LLC raised its position in shares of Devon Energy by 7,165.6% during the second quarter. Los Angeles Capital Management LLC now owns 1,376,253 shares of the energy company’s stock worth $65,234,000 after acquiring an additional 1,357,311 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of 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. 69.72% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently commented on DVN shares. Jefferies Financial Group initiated coverage on Devon Energy in a research report on Thursday, October 3rd. They issued a “hold” rating and a $45.00 price objective for the company. Piper Sandler dropped their price objective on Devon Energy from $57.00 to $56.00 and set an “overweight” rating for the company in a report on Tuesday, October 15th. Scotiabank cut their target price on Devon Energy from $60.00 to $48.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Wolfe Research began coverage on Devon Energy in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. Finally, BMO Capital Markets cut their price target on shares of Devon Energy from $52.00 to $48.00 and set an “outperform” rating on the stock in a research report on Friday, October 4th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, Devon Energy currently has an average rating of “Hold” and an average price target of $51.80.

Devon Energy Price Performance

Shares of DVN opened at $39.36 on Friday. The company has a 50 day moving average of $40.15 and a 200-day moving average of $44.52. The company has a quick ratio of 1.01, a current ratio of 1.11 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $25.86 billion, a P/E ratio of 7.30, a P/E/G ratio of 1.19 and a beta of 2.03. Devon Energy Co. has a twelve month low of $37.76 and a twelve month high of $55.09.

Devon Energy (NYSE:DVN) last issued its quarterly earnings results on Tuesday, November 5th. The energy company reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.01. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%. The firm had revenue of $4.02 billion for the quarter, compared to analyst estimates of $3.72 billion. During the same period in the previous year, the business earned $1.65 EPS. The company’s revenue was up 4.9% compared to the same quarter last year. As a group, equities research analysts forecast that Devon Energy Co. will post 4.86 EPS for the current fiscal year.

Devon Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.88 annualized dividend and a yield of 2.24%. Devon Energy’s dividend payout ratio (DPR) is presently 16.33%.

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.