Devon Energy Co. (NYSE:DVN) Shares Sold by Stock Yards Bank & Trust Co.

Stock Yards Bank & Trust Co. decreased its holdings in shares of Devon Energy Co. (NYSE:DVN) by 22.2% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 5,709 shares of the energy company’s stock after selling 1,627 shares during the period. Stock Yards Bank & Trust Co.’s holdings in Devon Energy were worth $259,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in DVN. Annis Gardner Whiting Capital Advisors LLC purchased a new position in shares of Devon Energy during the 3rd quarter valued at approximately $27,000. Sound Income Strategies LLC lifted its position in shares of Devon Energy by 60.7% during the 4th quarter. Sound Income Strategies LLC now owns 675 shares of the energy company’s stock valued at $31,000 after buying an additional 255 shares in the last quarter. Rise Advisors LLC lifted its position in shares of Devon Energy by 1,365.3% during the 4th quarter. Rise Advisors LLC now owns 718 shares of the energy company’s stock valued at $33,000 after buying an additional 669 shares in the last quarter. PFS Partners LLC purchased a new position in shares of Devon Energy during the 4th quarter valued at approximately $36,000. Finally, Naples Money Management LLC purchased a new position in shares of Devon Energy during the 4th quarter valued at approximately $40,000. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Devon Energy Stock Down 0.9 %

NYSE DVN opened at $52.09 on Thursday. Devon Energy Co. has a 52 week low of $40.47 and a 52 week high of $55.09. The company has a quick ratio of 0.99, a current ratio of 1.07 and a debt-to-equity ratio of 0.46. The business’s fifty day simple moving average is $48.51 and its 200-day simple moving average is $46.09. The firm has a market cap of $33.08 billion, a PE ratio of 8.93 and a beta of 2.19.

Devon Energy (NYSE:DVN) last posted its quarterly earnings results on Tuesday, February 27th. The energy company reported $1.41 EPS for the quarter, topping the consensus estimate of $1.39 by $0.02. Devon Energy had a return on equity of 31.72% and a net margin of 24.56%. The business had revenue of $4.15 billion for the quarter, compared to analyst estimates of $3.88 billion. During the same quarter in the previous year, the firm earned $1.66 EPS. The company’s quarterly revenue was down 3.6% compared to the same quarter last year. As a group, equities analysts anticipate that Devon Energy Co. will post 5.22 earnings per share for the current year.

Devon Energy Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date was Thursday, March 14th. Devon Energy’s payout ratio is 15.09%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Stifel Nicolaus increased their target price on Devon Energy from $65.00 to $66.00 and gave the company a “buy” rating in a research report on Tuesday. Truist Financial raised their price objective on Devon Energy from $66.00 to $69.00 and gave the company a “buy” rating in a report on Monday. Morgan Stanley raised their price objective on Devon Energy from $49.00 to $50.00 and gave the company an “overweight” rating in a report on Monday, April 15th. Wells Fargo & Company upgraded Devon Energy from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $46.00 to $59.00 in a report on Monday, April 1st. Finally, Scotiabank raised their price objective on Devon Energy from $53.00 to $67.00 and gave the company a “sector outperform” rating in a report on Thursday, April 11th. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, Devon Energy currently has a consensus rating of “Moderate Buy” and an average target price of $58.33.

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.