Oppenheimer & Co. Inc. Sells 47,556 Shares of Devon Energy Co. (NYSE:DVN)

Oppenheimer & Co. Inc. cut its holdings in Devon Energy Co. (NYSE:DVN) by 33.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 93,597 shares of the energy company’s stock after selling 47,556 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Devon Energy were worth $3,063,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Integrated Advisors Network LLC lifted its position in shares of Devon Energy by 6.0% during the third quarter. Integrated Advisors Network LLC now owns 7,875 shares of the energy company’s stock worth $308,000 after purchasing an additional 446 shares in the last quarter. JFS Wealth Advisors LLC raised its position in Devon Energy by 93.2% in the 3rd quarter. JFS Wealth Advisors LLC now owns 1,669 shares of the energy company’s stock worth $65,000 after purchasing an additional 805 shares during the last quarter. Financial Advocates Investment Management lifted its holdings in Devon Energy by 10.0% during the 3rd quarter. Financial Advocates Investment Management now owns 11,069 shares of the energy company’s stock worth $433,000 after buying an additional 1,007 shares in the last quarter. US Bancorp DE boosted its position in Devon Energy by 1.6% in the 3rd quarter. US Bancorp DE now owns 127,840 shares of the energy company’s stock valued at $5,001,000 after buying an additional 2,026 shares during the last quarter. Finally, Stephens Inc. AR boosted its position in Devon Energy by 4.3% in the 3rd quarter. Stephens Inc. AR now owns 22,095 shares of the energy company’s stock valued at $864,000 after buying an additional 905 shares during the last quarter. 69.72% of the stock is owned by institutional investors.

Devon Energy Price Performance

DVN stock opened at $36.24 on Friday. The stock has a 50-day moving average price of $34.94 and a two-hundred day moving average price of $38.05. 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 $23.52 billion, a PE ratio of 7.95, a price-to-earnings-growth ratio of 1.20 and a beta of 1.98. The company has a current ratio of 1.04, a quick ratio of 1.01 and a debt-to-equity ratio of 0.57.

Devon Energy (NYSE:DVN) last posted its quarterly earnings data on Tuesday, February 18th. The energy company reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.16. The business had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.25 billion. Devon Energy had a return on equity of 22.52% and a net margin of 18.14%. Equities analysts forecast that Devon Energy Co. will post 4.85 EPS for the current fiscal year.

Devon Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a dividend of $0.24 per share. This is a boost from Devon Energy’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.96 annualized dividend and a yield of 2.65%. Devon Energy’s dividend payout ratio is presently 21.05%.

Wall Street Analyst Weigh In

DVN has been the topic of several research reports. JPMorgan Chase & Co. lowered Devon Energy from an “overweight” rating to a “neutral” rating and set a $43.00 price target on the stock. in a research note on Thursday, December 5th. Mizuho cut their target price on shares of Devon Energy from $51.00 to $47.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. StockNews.com upgraded shares of Devon Energy from a “sell” rating to a “hold” rating in a research report on Friday, January 3rd. Cowen lowered shares of Devon Energy to a “hold” rating and cut their price objective for the company from $46.00 to $45.00 in a report on Tuesday, February 18th. Finally, Truist Financial lifted their target price on shares of Devon Energy from $42.00 to $44.00 and gave the stock a “hold” rating in a report on Thursday, February 20th. Ten equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.87.

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.