Raymond James Financial Services Advisors Inc. reduced its stake in Devon Energy Corp (NYSE:DVN) by 45.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 33,057 shares of the energy company’s stock after selling 27,264 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Devon Energy were worth $745,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. Winslow Evans & Crocker Inc. purchased a new stake in Devon Energy in the 4th quarter valued at about $26,000. Lindbrook Capital LLC acquired a new position in Devon Energy in the 4th quarter valued at about $26,000. Duncker Streett & Co. Inc. grew its position in Devon Energy by 40.5% in the 4th quarter. Duncker Streett & Co. Inc. now owns 1,600 shares of the energy company’s stock valued at $36,000 after acquiring an additional 461 shares in the last quarter. Quattro Financial Advisors LLC acquired a new position in Devon Energy in the 4th quarter valued at about $65,000. Finally, Rational Advisors LLC grew its position in Devon Energy by 616.2% in the 4th quarter. Rational Advisors LLC now owns 3,001 shares of the energy company’s stock valued at $68,000 after acquiring an additional 2,582 shares in the last quarter. Hedge funds and other institutional investors own 86.96% of the company’s stock.
Shares of Devon Energy stock opened at $30.34 on Monday. Devon Energy Corp has a one year low of $20.37 and a one year high of $46.54. The stock has a market cap of $13.30 billion, a PE ratio of 23.52, a P/E/G ratio of 1.68 and a beta of 2.25. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.99 and a quick ratio of 1.99.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 1.19%. This is an increase from Devon Energy’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Thursday, June 13th. Devon Energy’s dividend payout ratio is 24.81%.
DVN has been the subject of several research reports. Stifel Nicolaus reaffirmed a “buy” rating and issued a $50.00 target price on shares of Devon Energy in a research report on Tuesday, November 27th. Mizuho set a $31.00 target price on Devon Energy and gave the company a “hold” rating in a research report on Wednesday, November 28th. Cowen initiated coverage on Devon Energy in a research report on Thursday, November 29th. They issued a “market perform” rating for the company. MKM Partners initiated coverage on Devon Energy in a research report on Wednesday, December 5th. They issued a “buy” rating and a $38.00 target price for the company. Finally, Stephens assumed coverage on Devon Energy in a research report on Thursday, December 6th. They issued an “overweight” rating and a $50.00 target price for the company. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and fifteen have assigned a buy rating to the stock. Devon Energy currently has a consensus rating of “Hold” and an average price target of $45.48.
In other Devon Energy news, Director Robert H. Henry purchased 11,651 shares of the stock in a transaction that occurred on Wednesday, February 27th. The stock was purchased at an average cost of $30.01 per share, with a total value of $349,646.51. Following the completion of the acquisition, the director now directly owns 21,355 shares of the company’s stock, valued at approximately $640,863.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.55% of the company’s stock.
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Devon Energy Company Profile
Devon Energy Corporation, an independent energy company, primarily engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States and Canada. It operates approximately 12,900 gross wells. The company was founded in 1971 and is headquartered in Oklahoma City, Oklahoma.
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