Full Sail Capital LLC Trims Stock Holdings in Devon Energy Co. (NYSE:DVN)

Full Sail Capital LLC lessened its holdings in shares of Devon Energy Co. (NYSE:DVN) by 19.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,632 shares of the energy company’s stock after selling 6,610 shares during the period. Full Sail Capital LLC’s holdings in Devon Energy were worth $904,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of DVN. Hurley Capital LLC bought a new position in shares of Devon Energy during the fourth quarter valued at approximately $26,000. Accredited Wealth Management LLC bought a new position in Devon Energy during the 4th quarter valued at approximately $28,000. Cromwell Holdings LLC raised its stake in Devon Energy by 98.0% during the fourth quarter. Cromwell Holdings LLC now owns 1,208 shares of the energy company’s stock valued at $40,000 after buying an additional 598 shares during the last quarter. Sierra Ocean LLC bought a new stake in Devon Energy in the fourth quarter worth $43,000. Finally, Endeavor Private Wealth Inc. purchased a new stake in shares of Devon Energy in the fourth quarter worth $52,000. 69.72% of the stock is currently owned by institutional investors.

Devon Energy Stock Performance

NYSE:DVN opened at $32.60 on Friday. The stock has a 50-day simple moving average of $32.55 and a two-hundred day simple moving average of $34.75. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.01 and a current ratio of 1.04. Devon Energy Co. has a 52-week low of $25.89 and a 52-week high of $51.20. The firm has a market capitalization of $20.97 billion, a PE ratio of 7.15, a P/E/G ratio of 1.20 and a beta of 1.00.

Devon Energy (NYSE:DVN) last released its earnings results on Tuesday, May 6th. The energy company reported $1.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.27 by ($0.06). Devon Energy had a return on equity of 22.52% and a net margin of 18.14%. The firm had revenue of $4.45 billion during the quarter, compared to analysts’ expectations of $4.31 billion. During the same period in the prior year, the company posted $1.16 earnings per share. The company’s revenue was up 23.8% compared to the same quarter last year. Analysts forecast that Devon Energy Co. will post 4.85 EPS for the current year.

Devon Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.94%. The ex-dividend date of this dividend is Friday, June 13th. Devon Energy’s dividend payout ratio (DPR) is 21.87%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Sanford C. Bernstein raised Devon Energy from a “market perform” rating to an “outperform” rating and set a $45.00 price target for the company in a research report on Wednesday, January 15th. Barclays upped their target price on shares of Devon Energy from $38.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Benchmark reissued a “buy” rating and set a $44.00 price target on shares of Devon Energy in a research report on Thursday, February 20th. Bank of America lowered their price objective on Devon Energy from $52.00 to $42.00 and set a “buy” rating on the stock in a research report on Tuesday, April 29th. Finally, Wells Fargo & Company reduced their target price on Devon Energy from $46.00 to $44.00 and set an “overweight” rating for the company in a report on Monday, April 14th. One analyst has rated the stock with a sell rating, nine have given a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, Devon Energy presently has an average rating of “Moderate Buy” and a consensus target price of $43.96.

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.