Compass Wealth Management LLC Trims Stake in Devon Energy Co. (NYSE:DVN)

Compass Wealth Management LLC cut its holdings in shares of Devon Energy Co. (NYSE:DVN) by 21.2% in the fourth quarter, HoldingsChannel.com reports. The firm owned 4,100 shares of the energy company’s stock after selling 1,100 shares during the quarter. Compass Wealth Management LLC’s holdings in Devon Energy were worth $134,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Riversedge Advisors LLC boosted its stake in Devon Energy by 3.6% during the third quarter. Riversedge Advisors LLC now owns 7,336 shares of the energy company’s stock worth $287,000 after buying an additional 253 shares during the period. Modus Advisors LLC lifted its holdings in shares of Devon Energy by 2.4% in the 3rd quarter. Modus Advisors LLC now owns 11,439 shares of the energy company’s stock worth $447,000 after acquiring an additional 272 shares during the last quarter. Lummis Asset Management LP boosted its position in shares of Devon Energy by 1.0% during the 2nd quarter. Lummis Asset Management LP now owns 30,055 shares of the energy company’s stock worth $1,425,000 after purchasing an additional 290 shares during the period. Hazlett Burt & Watson Inc. increased its holdings 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 valued at $49,000 after purchasing an additional 290 shares during the last quarter. Finally, Sfmg LLC raised its position in Devon Energy by 0.5% in the third quarter. Sfmg LLC now owns 64,871 shares of the energy company’s stock valued at $2,538,000 after purchasing an additional 294 shares during the period. 69.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

DVN has been the subject of several research analyst reports. Truist Financial lowered their price target on Devon Energy from $43.00 to $42.00 and set a “hold” rating for the company in a research report on Monday, January 13th. Jefferies Financial Group began coverage on Devon Energy in a report on Thursday, October 3rd. They set a “hold” rating and a $45.00 target price for the company. Susquehanna cut their price target on shares of Devon Energy from $63.00 to $62.00 and set a “positive” rating on the stock in a research note on Friday, October 18th. BMO Capital Markets lowered their price objective on shares of Devon Energy from $52.00 to $48.00 and set an “outperform” rating for the company in a research note on Friday, October 4th. Finally, 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 report on Tuesday, December 17th. Nine analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $49.41.

Devon Energy Stock Performance

Shares of DVN opened at $35.98 on Friday. The company has a market capitalization of $23.64 billion, a price-to-earnings ratio of 6.68, a price-to-earnings-growth ratio of 1.21 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 stock has a 50 day moving average price of $35.27 and a 200 day moving average price of $39.95.

Devon Energy (NYSE:DVN) last announced its quarterly earnings results on Tuesday, November 5th. The energy company reported $1.10 EPS for the quarter, topping 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 firm had revenue of $4.02 billion for the quarter, compared to analyst estimates of $3.72 billion. During the same period last year, the business earned $1.65 EPS. Devon Energy’s revenue for the quarter was up 4.9% compared to the same quarter last year. Research analysts predict that Devon Energy Co. will post 4.7 EPS for the current fiscal year.

Devon Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Friday, December 13th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.45%. The ex-dividend date was Friday, December 13th. Devon Energy’s payout ratio is currently 16.33%.

About Devon Energy

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.