Devon Energy Co. (NYSE:DVN) Holdings Decreased by TrinityPoint Wealth LLC

TrinityPoint Wealth LLC decreased its holdings in shares of Devon Energy Co. (NYSE:DVN) by 39.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,740 shares of the energy company’s stock after selling 25,226 shares during the quarter. TrinityPoint Wealth LLC’s holdings in Devon Energy were worth $1,268,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of DVN. Assenagon Asset Management S.A. grew its holdings in shares of Devon Energy by 312.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 328,029 shares of the energy company’s stock valued at $10,736,000 after buying an additional 248,509 shares in the last quarter. Empirical Asset Management LLC purchased a new position in Devon Energy in the fourth quarter valued at about $763,000. Merit Financial Group LLC purchased a new position in Devon Energy in the fourth quarter valued at about $240,000. Brooklyn Investment Group grew its stake in Devon Energy by 76.6% in the fourth quarter. Brooklyn Investment Group now owns 8,042 shares of the energy company’s stock valued at $263,000 after purchasing an additional 3,487 shares in the last quarter. Finally, Arkadios Wealth Advisors grew its stake in Devon Energy by 9.0% in the fourth quarter. Arkadios Wealth Advisors now owns 52,362 shares of the energy company’s stock valued at $1,714,000 after purchasing an additional 4,338 shares in the last quarter. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Devon Energy Price Performance

NYSE DVN opened at $33.26 on Friday. Devon Energy Co. has a twelve month low of $25.89 and a twelve month high of $50.24. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.01 and a current ratio of 1.04. The stock has a market capitalization of $21.35 billion, a PE ratio of 7.29, a P/E/G ratio of 1.20 and a beta of 1.00. The stock has a 50-day simple moving average of $32.50 and a 200 day simple moving average of $34.54.

Devon Energy (NYSE:DVN) last posted its quarterly earnings data on Tuesday, May 6th. The energy company reported $1.21 earnings per share 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 business had revenue of $4.45 billion for the quarter, compared to analyst estimates of $4.31 billion. During the same period in the prior year, the firm posted $1.16 EPS. Devon Energy’s revenue for the quarter was up 23.8% on a year-over-year basis. Research analysts anticipate that Devon Energy Co. will post 4.85 EPS for the current year.

Devon Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be given a dividend of $0.24 per share. The ex-dividend date is Friday, June 13th. This represents a $0.96 annualized dividend and a dividend yield of 2.89%. Devon Energy’s dividend payout ratio is presently 21.87%.

Analysts Set New Price Targets

A number of research analysts have commented on the company. StockNews.com upgraded Devon Energy from a “sell” rating to a “hold” rating in a research note on Thursday. Wells Fargo & Company boosted their target price on Devon Energy from $44.00 to $46.00 and gave the company an “overweight” rating in a research note on Wednesday. Royal Bank of Canada lowered their target price on Devon Energy from $49.00 to $40.00 and set a “sector perform” rating on the stock in a research note on Monday, April 14th. Scotiabank lowered their target price on Devon Energy from $45.00 to $35.00 and set a “sector outperform” rating on the stock in a research note on Friday, April 11th. Finally, Mizuho lowered their target price on Devon Energy from $46.00 to $43.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 13th. Ten investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.83.

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.