Larson Financial Group LLC Sells 849 Shares of Devon Energy Corporation (NYSE:DVN)

Larson Financial Group LLC lessened its stake in shares of Devon Energy Corporation (NYSE:DVN) by 1.4% in the 1st quarter, HoldingsChannel.com reports. The fund owned 60,846 shares of the energy company’s stock after selling 849 shares during the period. Larson Financial Group LLC’s holdings in Devon Energy were worth $2,276,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Devon Energy by 7.3% during the 4th quarter. Vanguard Group Inc. now owns 80,682,170 shares of the energy company’s stock worth $2,640,727,000 after purchasing an additional 5,465,692 shares during the period. Fuller & Thaler Asset Management Inc. increased its stake in shares of Devon Energy by 42.8% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 10,395,225 shares of the energy company’s stock valued at $340,236,000 after buying an additional 3,114,656 shares during the period. Marshall Wace LLP increased its stake in shares of Devon Energy by 135.5% during the fourth quarter. Marshall Wace LLP now owns 5,371,518 shares of the energy company’s stock valued at $175,810,000 after buying an additional 3,090,585 shares during the period. Invesco Ltd. raised its holdings in shares of Devon Energy by 32.8% in the fourth quarter. Invesco Ltd. now owns 9,461,719 shares of the energy company’s stock valued at $309,682,000 after acquiring an additional 2,335,473 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in Devon Energy by 530.3% in the first quarter. Assenagon Asset Management S.A. now owns 2,067,465 shares of the energy company’s stock worth $77,323,000 after acquiring an additional 1,739,436 shares during the period. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Analyst Ratings Changes

DVN has been the topic of several recent research reports. Susquehanna dropped their target price on shares of Devon Energy from $52.00 to $41.00 and set a “positive” rating on the stock in a report on Tuesday, April 22nd. Mizuho dropped their price objective on shares of Devon Energy from $46.00 to $43.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 13th. Barclays lifted their price objective on shares of Devon Energy from $38.00 to $40.00 and gave the company an “equal weight” rating in a report on Wednesday, May 7th. Scotiabank restated an “outperform” rating on shares of Devon Energy in a report on Friday. Finally, Tudor, Pickering, Holt & Co. lifted their price target on Devon Energy from $42.00 to $44.00 in a report on Thursday, July 3rd. Eleven investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $43.48.

Devon Energy Price Performance

Shares of DVN stock opened at $32.24 on Wednesday. Devon Energy Corporation has a fifty-two week low of $25.89 and a fifty-two week high of $49.35. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.99 and a current ratio of 1.08. The firm has a market capitalization of $20.70 billion, a price-to-earnings ratio of 7.34, a PEG ratio of 2.50 and a beta of 1.02. The stock’s 50-day simple moving average is $32.77 and its 200-day simple moving average is $33.55.

Devon Energy (NYSE:DVN) last released its earnings results on Tuesday, May 6th. The energy company reported $1.21 EPS for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.06). Devon Energy had a return on equity of 21.90% and a net margin of 16.60%. The company had revenue of $4.45 billion during the quarter, compared to analyst estimates of $4.31 billion. During the same quarter last year, the business earned $1.16 earnings per share. The firm’s revenue for the quarter was up 23.8% on a year-over-year basis. As a group, equities analysts forecast that Devon Energy Corporation will post 4.85 earnings per share for the current fiscal year.

Devon Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $0.96 annualized dividend and a dividend yield of 2.98%. Devon Energy’s payout ratio is currently 21.87%.

Devon Energy 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.