Wealth Alliance Advisory Group LLC Lowers Stock Position in Devon Energy Co. (NYSE:DVN)

Wealth Alliance Advisory Group LLC trimmed its position in Devon Energy Co. (NYSE:DVN) by 34.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,186 shares of the energy company’s stock after selling 9,064 shares during the quarter. Wealth Alliance Advisory Group LLC’s holdings in Devon Energy were worth $562,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on DVN shares. Raymond James cut their price target on Devon Energy from $58.00 to $51.00 in a report on Tuesday, November 5th. JPMorgan Chase & Co. lowered shares of Devon Energy from an “overweight” rating to a “neutral” rating and set a $43.00 target price for the company. in a report on Thursday, December 5th. Mizuho decreased their price target on shares of Devon Energy from $51.00 to $47.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. Wells Fargo & Company dropped their price objective 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, StockNews.com upgraded shares of Devon Energy from a “sell” rating to a “hold” rating in a report on Friday, January 3rd. Nine investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, Devon Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.27.

Devon Energy Trading Down 1.2 %

DVN stock opened at $37.98 on Friday. The company has a market cap of $24.95 billion, a price-to-earnings ratio of 7.05, a PEG ratio of 1.14 and a beta of 2.00. The company has a quick ratio of 1.01, a current ratio of 1.11 and a debt-to-equity ratio of 0.61. Devon Energy Co. has a 52 week low of $30.39 and a 52 week high of $55.09. The business has a fifty day simple moving average of $35.48 and a 200-day simple moving average of $40.27.

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 analysts’ consensus estimates of $1.09 by $0.01. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%. The firm had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $3.72 billion. During the same period in the prior year, the firm posted $1.65 EPS. The firm’s revenue was up 4.9% compared to the same quarter last year. On average, equities research analysts expect that Devon Energy Co. will post 4.72 EPS for the current year.

Devon Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Friday, December 13th were paid a $0.22 dividend. The ex-dividend date was Friday, December 13th. This represents a $0.88 annualized dividend and a dividend yield of 2.32%. Devon Energy’s payout ratio is 16.33%.

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.