Hilltop National Bank Sells 500 Shares of Devon Energy Co. (NYSE:DVN)

Hilltop National Bank cut its stake in Devon Energy Co. (NYSE:DVN) by 3.9% in the fourth quarter, HoldingsChannel reports. The fund owned 12,399 shares of the energy company’s stock after selling 500 shares during the period. Hilltop National Bank’s holdings in Devon Energy were worth $406,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of DVN. EnCap Energy Capital Fund XI L.P. bought a new stake in shares of Devon Energy during the third quarter worth approximately $461,857,000. EnCap Partners GP LLC acquired a new position in Devon Energy during the third quarter valued at approximately $408,653,000. EnCap Energy Capital Fund X L.P. acquired a new position in Devon Energy during the third quarter valued at approximately $230,928,000. International Assets Investment Management LLC grew its holdings in Devon Energy by 4,125.7% during the third quarter. International Assets Investment Management LLC now owns 2,280,961 shares of the energy company’s stock valued at $89,231,000 after purchasing an additional 2,226,983 shares during the period. Finally, Pacer Advisors Inc. boosted its holdings in shares of Devon Energy by 16.9% in the third quarter. Pacer Advisors Inc. now owns 11,591,168 shares of the energy company’s stock valued at $453,446,000 after buying an additional 1,677,652 shares during the period. 69.72% of the stock is owned by institutional investors.

Devon Energy Stock Performance

NYSE DVN opened at $36.10 on Friday. The firm has a 50-day moving average of $35.67 and a 200-day moving average of $40.73. 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 stock has a market cap of $23.71 billion, a PE ratio of 6.70, a P/E/G ratio of 1.07 and a beta of 1.99. Devon Energy Co. has a 52-week low of $30.39 and a 52-week high of $55.09.

Devon Energy (NYSE:DVN) last posted its earnings results on Tuesday, November 5th. The energy company reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.01. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%. The company had revenue of $4.02 billion during the quarter, compared to analysts’ expectations of $3.72 billion. During the same quarter last year, the company posted $1.65 EPS. Devon Energy’s quarterly revenue was up 4.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Devon Energy Co. will post 4.79 EPS for the current year.

Devon Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Friday, December 13th were paid a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 2.44%. The ex-dividend date was Friday, December 13th. Devon Energy’s dividend payout ratio (DPR) is 16.33%.

Wall Street Analysts Forecast Growth

DVN has been the subject of several research analyst reports. Raymond James reduced their price target on shares of Devon Energy from $58.00 to $51.00 in a report on Tuesday, November 5th. JPMorgan Chase & Co. cut shares of Devon Energy from an “overweight” rating to a “neutral” rating and set a $43.00 price target for the company. in a report on Thursday, December 5th. Mizuho reduced their price target on shares of Devon Energy from $51.00 to $47.00 and set an “outperform” rating for the company in a report on Monday, December 16th. TD Cowen reduced their price target on shares of Devon Energy from $54.00 to $46.00 and set a “hold” rating for the company in a report on Tuesday, November 5th. Finally, Evercore ISI reduced their target price on shares of Devon Energy from $55.00 to $50.00 and set an “in-line” rating for the company in a report on Monday, September 30th. Eleven research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $49.48.

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.