Devon Energy Co. (NYSE:DVN) Shares Sold by Sigma Planning Corp

Sigma Planning Corp reduced its stake in shares of Devon Energy Co. (NYSE:DVN) by 60.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 18,845 shares of the energy company’s stock after selling 28,992 shares during the quarter. Sigma Planning Corp’s holdings in Devon Energy were worth $854,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in DVN. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of Devon Energy in the third quarter valued at approximately $27,000. Sound Income Strategies LLC grew its position in shares of Devon Energy by 60.7% in the fourth quarter. Sound Income Strategies LLC now owns 675 shares of the energy company’s stock valued at $31,000 after purchasing an additional 255 shares during the last quarter. Rise Advisors LLC grew its position in shares of Devon Energy by 1,365.3% in the fourth quarter. Rise Advisors LLC now owns 718 shares of the energy company’s stock valued at $33,000 after purchasing an additional 669 shares during the last quarter. PFS Partners LLC acquired a new stake in shares of Devon Energy in the fourth quarter valued at approximately $36,000. Finally, Naples Money Management LLC acquired a new stake in shares of Devon Energy in the fourth quarter valued at approximately $40,000. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

DVN has been the topic of several research reports. Barclays initiated coverage on shares of Devon Energy in a research report on Wednesday, April 10th. They issued an “equal weight” rating and a $59.00 price target on the stock. UBS Group raised their target price on shares of Devon Energy from $48.00 to $57.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 10th. Truist Financial increased their price target on shares of Devon Energy from $66.00 to $69.00 and gave the stock a “buy” rating in a research note on Monday. Citigroup increased their price target on shares of Devon Energy from $55.00 to $62.00 and gave the stock a “buy” rating in a research note on Thursday, April 11th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $55.00 price target on shares of Devon Energy in a research note on Thursday, March 7th. Five equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $58.33.

Devon Energy Stock Performance

Devon Energy stock opened at $52.57 on Wednesday. Devon Energy Co. has a 12-month low of $40.47 and a 12-month high of $55.09. The company has a market capitalization of $33.38 billion, a price-to-earnings ratio of 9.02 and a beta of 2.19. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.07 and a quick ratio of 0.99. The firm’s fifty day moving average price is $48.30 and its 200 day moving average price is $46.05.

Devon Energy (NYSE:DVN) last released its quarterly earnings results on Tuesday, February 27th. The energy company reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.02. Devon Energy had a net margin of 24.56% and a return on equity of 31.72%. The firm had revenue of $4.15 billion for the quarter, compared to the consensus estimate of $3.88 billion. During the same quarter in the previous year, the firm posted $1.66 EPS. The firm’s quarterly revenue was down 3.6% on a year-over-year basis. On average, research analysts forecast that Devon Energy Co. will post 5.2 EPS for the current fiscal year.

Devon Energy Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 3.35%. The ex-dividend date was Thursday, March 14th. Devon Energy’s dividend payout ratio (DPR) is 15.09%.

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.