Ascent Group LLC Sells 1,298 Shares of Devon Energy Co. (NYSE:DVN)

Ascent Group LLC lessened its stake in Devon Energy Co. (NYSE:DVN) by 15.7% in the 4th quarter, Holdings Channel reports. The institutional investor owned 6,962 shares of the energy company’s stock after selling 1,298 shares during the quarter. Ascent Group LLC’s holdings in Devon Energy were worth $228,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Exchange Traded Concepts LLC lifted its stake in Devon Energy by 21.4% in the 4th quarter. Exchange Traded Concepts LLC now owns 6,216 shares of the energy company’s stock valued at $203,000 after acquiring an additional 1,097 shares in the last quarter. Fifth Third Bancorp raised its holdings in shares of Devon Energy by 11.0% in the fourth quarter. Fifth Third Bancorp now owns 27,637 shares of the energy company’s stock valued at $905,000 after purchasing an additional 2,748 shares during the last quarter. Geneos Wealth Management Inc. lifted its position in shares of Devon Energy by 22.1% in the fourth quarter. Geneos Wealth Management Inc. now owns 9,466 shares of the energy company’s stock worth $310,000 after purchasing an additional 1,713 shares in the last quarter. PFG Investments LLC lifted its position in shares of Devon Energy by 8.4% in the fourth quarter. PFG Investments LLC now owns 30,403 shares of the energy company’s stock worth $995,000 after purchasing an additional 2,356 shares in the last quarter. Finally, Blue Trust Inc. boosted its holdings in Devon Energy by 16.1% during the fourth quarter. Blue Trust Inc. now owns 16,820 shares of the energy company’s stock worth $551,000 after purchasing an additional 2,334 shares during the last quarter. Institutional investors own 69.72% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on DVN. Wells Fargo & Company lifted their price target on shares of Devon Energy from $44.00 to $46.00 and gave the company an “overweight” rating in a research note on Wednesday, May 14th. Benchmark reaffirmed a “buy” rating and issued a $44.00 target price on shares of Devon Energy in a research report on Thursday, February 20th. UBS Group dropped their target price on Devon Energy from $41.00 to $35.00 and set a “neutral” rating on the stock in a report on Monday, April 7th. Raymond James set a $40.00 price target on Devon Energy in a research note on Monday, April 21st. Finally, Wall Street Zen upgraded Devon Energy from a “sell” rating to a “hold” rating in a research note on Thursday, May 15th. Ten investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $43.71.

Devon Energy Stock Down 1.4%

Devon Energy stock opened at $30.91 on Thursday. The company’s 50-day moving average price is $31.90 and its two-hundred day moving average price is $34.16. The company has a quick ratio of 1.01, a current ratio of 1.04 and a debt-to-equity ratio of 0.57. The stock has a market cap of $19.85 billion, a P/E ratio of 6.78, a P/E/G ratio of 1.20 and a beta of 1.00. Devon Energy Co. has a twelve month low of $25.89 and a twelve month high of $49.35.

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

Devon Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 3.11%. The ex-dividend date is Friday, June 13th. Devon Energy’s payout ratio is 21.87%.

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.