Accurate Wealth Management LLC Sells 1,710 Shares of Devon Energy Co. (NYSE:DVN)

Accurate Wealth Management LLC lowered its stake in shares of Devon Energy Co. (NYSE:DVN) by 5.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 31,235 shares of the energy company’s stock after selling 1,710 shares during the quarter. Accurate Wealth Management LLC’s holdings in Devon Energy were worth $1,124,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of DVN. Capital Performance Advisors LLP bought a new position in Devon Energy during the third quarter valued at $35,000. Future Financial Wealth Managment LLC purchased a new position in shares of Devon Energy during the 3rd quarter worth about $39,000. True Wealth Design LLC grew its holdings in Devon Energy by 3,889.3% during the 3rd quarter. True Wealth Design LLC now owns 1,117 shares of the energy company’s stock valued at $44,000 after purchasing an additional 1,089 shares during the last quarter. Hazlett Burt & Watson Inc. grew its holdings in Devon Energy by 29.8% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 1,263 shares of the energy company’s stock valued at $49,000 after purchasing an additional 290 shares during the last quarter. Finally, Activest Wealth Management lifted its stake in Devon Energy by 60.4% in the third quarter. Activest Wealth Management now owns 1,275 shares of the energy company’s stock worth $50,000 after purchasing an additional 480 shares during the last quarter. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Devon Energy Trading Up 1.2 %

Shares of NYSE DVN opened at $37.22 on Wednesday. Devon Energy Co. has a 1-year low of $30.39 and a 1-year high of $55.09. The business has a fifty day moving average price of $35.58 and a 200 day moving average price of $40.49. The stock has a market capitalization of $24.45 billion, a P/E ratio of 6.91, a price-to-earnings-growth ratio of 1.07 and a beta of 2.00. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.11 and a quick ratio of 1.01.

Devon Energy (NYSE:DVN) last released its quarterly earnings results 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 during the quarter, compared to analyst estimates of $3.72 billion. During the same period in the prior year, the firm posted $1.65 earnings per share. The company’s quarterly revenue was up 4.9% on a year-over-year basis. Equities research analysts expect that Devon Energy Co. will post 4.79 EPS for the current fiscal year.

Devon Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Friday, December 13th were paid a dividend of $0.22 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.88 annualized dividend and a yield of 2.36%. Devon Energy’s dividend payout ratio (DPR) is 16.33%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on DVN shares. Scotiabank cut their target price on Devon Energy from $60.00 to $48.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Citigroup cut their price objective on Devon Energy from $55.00 to $48.00 and set a “buy” rating on the stock in a research report on Tuesday, November 26th. Truist Financial decreased their target price on Devon Energy from $43.00 to $42.00 and set a “hold” rating for the company in a research report on Monday. Wells Fargo & Company lowered their target price on shares of Devon Energy from $49.00 to $43.00 and set an “overweight” rating for the company in a research note on Tuesday, December 17th. Finally, TD Cowen reduced their price target on shares of Devon Energy from $54.00 to $46.00 and set a “hold” rating on the stock in a research note on Tuesday, November 5th. Ten analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $49.18.

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.