EagleClaw Capital Managment LLC Cuts Stake in Devon Energy Corporation $DVN

EagleClaw Capital Managment LLC lessened its stake in shares of Devon Energy Corporation (NYSE:DVN) by 9.4% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 79,775 shares of the energy company’s stock after selling 8,250 shares during the period. EagleClaw Capital Managment LLC’s holdings in Devon Energy were worth $2,538,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Opal Wealth Advisors LLC purchased a new stake in shares of Devon Energy during the 2nd quarter worth approximately $25,000. Banque Cantonale Vaudoise bought a new position in Devon Energy during the first quarter valued at $26,000. Trust Co. of Vermont increased its position in Devon Energy by 241.3% in the second quarter. Trust Co. of Vermont now owns 942 shares of the energy company’s stock worth $30,000 after buying an additional 666 shares during the last quarter. FNY Investment Advisers LLC purchased a new stake in Devon Energy in the second quarter worth $34,000. Finally, SouthState Corp raised its stake in shares of Devon Energy by 350.5% in the first quarter. SouthState Corp now owns 991 shares of the energy company’s stock valued at $37,000 after buying an additional 771 shares during the period. 69.72% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on DVN. Weiss Ratings downgraded Devon Energy from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, November 7th. Morgan Stanley dropped their price objective on shares of Devon Energy from $49.00 to $47.00 and set an “overweight” rating on the stock in a report on Tuesday, October 14th. Evercore ISI increased their target price on shares of Devon Energy from $34.00 to $37.00 and gave the stock an “in-line” rating in a research report on Monday, October 6th. William Blair assumed coverage on shares of Devon Energy in a research report on Monday, August 25th. They issued an “outperform” rating on the stock. Finally, Siebert Williams Shank dropped their price target on shares of Devon Energy from $52.00 to $46.00 and set a “buy” rating on the stock in a research note on Monday, October 13th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Devon Energy has an average rating of “Moderate Buy” and a consensus target price of $43.07.

Devon Energy Trading Up 0.0%

Shares of DVN opened at $35.16 on Thursday. The business’s 50-day moving average price is $33.91 and its 200-day moving average price is $33.33. Devon Energy Corporation has a twelve month low of $25.89 and a twelve month high of $39.74. The stock has a market cap of $22.06 billion, a PE ratio of 7.88, a P/E/G ratio of 2.49 and a beta of 1.01. The company has a quick ratio of 1.13, a current ratio of 1.22 and a debt-to-equity ratio of 0.55.

Devon Energy (NYSE:DVN) last released its quarterly earnings data on Wednesday, November 5th. The energy company reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.11. The company had revenue of $0.00 million during the quarter, compared to analyst estimates of $4.10 billion. Devon Energy had a net margin of 16.57% and a return on equity of 18.59%. During the same period last year, the business earned $1.10 earnings per share. On average, equities analysts forecast that Devon Energy Corporation will post 4.85 EPS for the current fiscal year.

Devon Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Monday, December 15th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Monday, December 15th. This represents a $0.96 annualized dividend and a dividend yield of 2.7%. Devon Energy’s dividend payout ratio is presently 22.59%.

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.