Brave Asset Management Inc. Has $334,000 Stock Position in Devon Energy Co. (NYSE:DVN)

Brave Asset Management Inc. lowered its position in Devon Energy Co. (NYSE:DVN) by 3.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,200 shares of the energy company’s stock after selling 400 shares during the quarter. Brave Asset Management Inc.’s holdings in Devon Energy were worth $334,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of DVN. Envestnet Asset Management Inc. grew its stake in Devon Energy by 0.5% in the 2nd quarter. Envestnet Asset Management Inc. now owns 315,446 shares of the energy company’s stock valued at $14,952,000 after buying an additional 1,591 shares during the last quarter. Citizens Financial Group Inc. RI boosted its position in shares of Devon Energy by 13.4% in the second quarter. Citizens Financial Group Inc. RI now owns 10,752 shares of the energy company’s stock valued at $510,000 after acquiring an additional 1,272 shares during the period. Lmcg Investments LLC increased its position in Devon Energy by 13.0% during the second quarter. Lmcg Investments LLC now owns 51,993 shares of the energy company’s stock worth $2,464,000 after acquiring an additional 5,973 shares during the period. Edgestream Partners L.P. acquired a new position in Devon Energy during the 2nd quarter valued at $342,000. Finally, Axxcess Wealth Management LLC increased its position in shares of Devon Energy by 116.7% during the second quarter. Axxcess Wealth Management LLC now owns 14,737 shares of the energy company’s stock valued at $699,000 after purchasing an additional 7,937 shares during the period. 69.72% of the stock is owned by institutional investors and hedge funds.

Devon Energy Trading Up 3.4 %

NYSE DVN opened at $38.45 on Thursday. The firm has a market cap of $25.26 billion, a P/E ratio of 7.13, a P/E/G ratio of 1.07 and a beta of 2.00. Devon Energy Co. has a one year low of $30.39 and a one year high of $55.09. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.11 and a quick ratio of 1.01. The stock’s 50-day moving average is $35.54 and its 200-day moving average is $40.42.

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. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%. The business had revenue of $4.02 billion for the quarter, compared to analysts’ expectations of $3.72 billion. During the same period in the previous year, the firm posted $1.65 EPS. The firm’s revenue was up 4.9% compared to the same quarter last year. Sell-side analysts anticipate that Devon Energy Co. will post 4.79 earnings per share for the current fiscal year.

Devon Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Friday, December 13th were issued a dividend of $0.22 per share. The ex-dividend date was Friday, December 13th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.29%. Devon Energy’s payout ratio is presently 16.33%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. UBS Group lowered their target price on shares of Devon Energy from $53.00 to $47.00 and set a “neutral” rating on the stock in a report on Wednesday, September 18th. BMO Capital Markets dropped their price objective on shares of Devon Energy from $52.00 to $48.00 and set an “outperform” rating for the company in a report on Friday, October 4th. Citigroup reduced their target price on Devon Energy from $55.00 to $48.00 and set a “buy” rating on the stock in a report on Tuesday, November 26th. Jefferies Financial Group began coverage on Devon Energy in a report on Thursday, October 3rd. They set a “hold” rating and a $45.00 price target for the company. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $50.00 price objective on shares of Devon Energy in a research note on Friday, January 10th. Nine equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $49.27.

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.