Full Sail Capital LLC Lowers Holdings in Devon Energy Co. (NYSE:DVN)

Full Sail Capital LLC reduced its stake in shares of Devon Energy Co. (NYSE:DVN) by 19.3% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 27,632 shares of the energy company’s stock after selling 6,610 shares during the period. Full Sail Capital LLC’s holdings in Devon Energy were worth $904,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of DVN. Hurley Capital LLC bought a new stake in Devon Energy in the 4th quarter worth approximately $26,000. Accredited Wealth Management LLC bought a new stake in Devon Energy in the fourth quarter worth $28,000. Cromwell Holdings LLC raised its stake in Devon Energy by 98.0% during the fourth quarter. Cromwell Holdings LLC now owns 1,208 shares of the energy company’s stock valued at $40,000 after purchasing an additional 598 shares in the last quarter. Sierra Ocean LLC bought a new position in Devon Energy during the fourth quarter valued at $43,000. Finally, Endeavor Private Wealth Inc. purchased a new position in shares of Devon Energy in the 4th quarter worth $52,000. Institutional investors own 69.72% of the company’s stock.

Analysts Set New Price Targets

DVN has been the subject of several recent research reports. Scotiabank dropped their price target on Devon Energy from $45.00 to $35.00 and set a “sector outperform” rating for the company in a research report on Friday, April 11th. JPMorgan Chase & Co. cut their target price on Devon Energy from $48.00 to $42.00 and set a “neutral” rating on the stock in a research report on Thursday, March 13th. Sanford C. Bernstein upgraded Devon Energy from a “market perform” rating to an “outperform” rating and set a $45.00 price target for the company in a research report on Wednesday, January 15th. Barclays boosted their price objective on shares of Devon Energy from $38.00 to $40.00 and gave the company an “equal weight” rating in a research report on Wednesday. Finally, Truist Financial raised 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. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, Devon Energy has a consensus rating of “Moderate Buy” and a consensus price target of $43.96.

Devon Energy Trading Up 2.1 %

DVN opened at $32.60 on Friday. The stock has a fifty day moving average price of $32.55 and a 200-day moving average price of $34.75. Devon Energy Co. has a 12 month low of $25.89 and a 12 month high of $51.20. The company has a current ratio of 1.04, a quick ratio of 1.01 and a debt-to-equity ratio of 0.57. The firm has a market cap of $20.97 billion, a price-to-earnings ratio of 7.15, a PEG ratio of 1.20 and a beta of 1.00.

Devon Energy (NYSE:DVN) last posted its quarterly earnings data on Tuesday, May 6th. The energy company reported $1.21 EPS for the quarter, missing the consensus estimate of $1.27 by ($0.06). Devon Energy had a return on equity of 22.52% and a net margin of 18.14%. The firm had revenue of $4.45 billion for the quarter, compared to the consensus estimate of $4.31 billion. During the same quarter last year, the firm earned $1.16 EPS. The company’s revenue was up 23.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Devon Energy Co. will post 4.85 earnings per share for the current fiscal year.

Devon Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.94%. The ex-dividend date of this dividend is Friday, June 13th. Devon Energy’s dividend payout ratio is currently 21.87%.

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.