Devon Energy Co. (NYSE:DVN) Shares Sold by Rowlandmiller & PARTNERS.ADV

Rowlandmiller & PARTNERS.ADV cut its stake in Devon Energy Co. (NYSE:DVN) by 1.0% during the first quarter, HoldingsChannel reports. The institutional investor owned 34,841 shares of the energy company’s stock after selling 350 shares during the quarter. Rowlandmiller & PARTNERS.ADV’s holdings in Devon Energy were worth $1,303,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Resona Asset Management Co. Ltd. purchased a new position in Devon Energy in the 4th quarter valued at about $5,967,000. New York State Teachers Retirement System lifted its stake in Devon Energy by 4.5% in the 4th quarter. New York State Teachers Retirement System now owns 736,351 shares of the energy company’s stock valued at $24,101,000 after buying an additional 31,520 shares in the last quarter. Aviva PLC lifted its stake in Devon Energy by 767.3% in the 4th quarter. Aviva PLC now owns 376,999 shares of the energy company’s stock valued at $12,339,000 after buying an additional 333,530 shares in the last quarter. Ninepoint Partners LP lifted its stake in Devon Energy by 12.5% in the 4th quarter. Ninepoint Partners LP now owns 450,000 shares of the energy company’s stock valued at $14,728,000 after buying an additional 50,000 shares in the last quarter. Finally, Amundi lifted its stake in Devon Energy by 2.3% in the 4th quarter. Amundi now owns 2,220,879 shares of the energy company’s stock valued at $78,064,000 after buying an additional 50,301 shares in the last quarter. 69.72% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on DVN shares. Royal Bank of Canada decreased their target price on shares of 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. The Goldman Sachs Group raised their target price on shares of Devon Energy from $38.00 to $43.00 and gave the stock a “buy” rating in a research note on Thursday, May 15th. Morgan Stanley raised their target price on shares of Devon Energy from $42.00 to $44.00 and gave the stock an “overweight” rating in a research note on Friday, May 23rd. Cowen lowered shares of Devon Energy to a “hold” rating and reduced their price target for the company from $46.00 to $45.00 in a research report on Tuesday, February 18th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Devon Energy from $48.00 to $42.00 and set a “neutral” rating on the stock in a research report on Thursday, March 13th. Ten investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $43.71.

Devon Energy Trading Up 2.5%

Shares of Devon Energy stock opened at $33.47 on Wednesday. Devon Energy Co. has a 12-month low of $25.89 and a 12-month high of $49.35. The company has a current ratio of 1.04, a quick ratio of 1.01 and a debt-to-equity ratio of 0.57. The stock has a market cap of $21.49 billion, a PE ratio of 7.34, a price-to-earnings-growth ratio of 1.20 and a beta of 1.02. The company has a 50-day moving average of $31.00 and a two-hundred day moving average of $33.69.

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

Devon Energy Dividend Announcement

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 given a dividend of $0.24 per share. The ex-dividend date is Friday, June 13th. This represents a $0.96 dividend on an annualized basis and a yield of 2.87%. Devon Energy’s dividend payout ratio (DPR) is currently 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.