Devon Energy Co. (NYSE:DVN) Shares Sold by Independent Advisor Alliance

Independent Advisor Alliance decreased its stake in Devon Energy Co. (NYSE:DVN) by 4.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,400 shares of the energy company’s stock after selling 1,090 shares during the period. Independent Advisor Alliance’s holdings in Devon Energy were worth $864,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of DVN. EnCap Energy Capital Fund XI L.P. purchased a new stake in shares of Devon Energy during the third quarter valued at approximately $461,857,000. EnCap Partners GP LLC acquired a new position in Devon Energy in the 3rd quarter worth $408,653,000. EnCap Energy Capital Fund X L.P. purchased a new position in Devon Energy in the 3rd quarter valued at about $230,928,000. Raymond James Financial Inc. acquired a new stake in shares of Devon Energy during the fourth quarter valued at about $154,170,000. Finally, Pacer Advisors Inc. increased its position in shares of Devon Energy by 16.9% during the third quarter. Pacer Advisors Inc. now owns 11,591,168 shares of the energy company’s stock worth $453,446,000 after acquiring an additional 1,677,652 shares during the last quarter. 69.72% of the stock is currently owned by hedge funds and other institutional investors.

Devon Energy Stock Performance

Shares of DVN stock opened at $34.50 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 1.01. Devon Energy Co. has a 12-month low of $30.39 and a 12-month high of $55.09. The business has a 50 day simple moving average of $35.38 and a 200 day simple moving average of $37.32. The firm has a market capitalization of $22.39 billion, a price-to-earnings ratio of 7.56, a price-to-earnings-growth ratio of 1.20 and a beta of 1.91.

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, beating the consensus estimate of $1.00 by $0.16. Devon Energy had a net margin of 18.14% and a return on equity of 22.52%. The business had revenue of $4.40 billion during the quarter, compared to analysts’ expectations of $4.25 billion. On average, equities research analysts anticipate that Devon Energy Co. will post 4.85 EPS for the current year.

Devon Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 2.78%. This is an increase from Devon Energy’s previous quarterly dividend of $0.22. The ex-dividend date is Friday, March 14th. Devon Energy’s dividend payout ratio is presently 21.05%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on DVN shares. Cowen lowered Devon Energy to a “hold” rating and lowered their price objective for the company from $46.00 to $45.00 in a research note on Tuesday, February 18th. Williams Trading set a $50.00 price target on shares of Devon Energy in a research report on Wednesday, March 5th. Raymond James reduced their price objective on shares of Devon Energy from $54.00 to $46.00 and set an “outperform” rating on the stock in a research note on Monday, March 10th. Benchmark restated a “buy” rating and issued a $44.00 target price on shares of Devon Energy in a research note on Thursday, February 20th. Finally, Barclays increased 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 report on Thursday, February 20th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Devon Energy currently has an average rating of “Moderate Buy” and a consensus target price of $48.54.

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.