Devon Energy Corporation $DVN Shares Sold by Rothschild Investment LLC

Rothschild Investment LLC cut its stake in Devon Energy Corporation (NYSE:DVN) by 7.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 78,881 shares of the energy company’s stock after selling 6,146 shares during the period. Rothschild Investment LLC’s holdings in Devon Energy were worth $2,509,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in DVN. Opal Wealth Advisors LLC acquired a new stake in shares of Devon Energy during the second quarter worth about $25,000. Banque Cantonale Vaudoise purchased a new position in Devon Energy during the 1st quarter worth approximately $26,000. Trust Co. of Vermont grew its stake in Devon Energy by 241.3% during the 2nd 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 acquired a new position in Devon Energy during the second quarter worth approximately $34,000. Finally, SouthState Corp lifted its stake in 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 last quarter. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Devon Energy Stock Down 2.0%

Shares of Devon Energy stock opened at $35.12 on Tuesday. Devon Energy Corporation has a one year low of $25.89 and a one year high of $39.65. The company has a market cap of $22.03 billion, a P/E ratio of 7.88, a PEG ratio of 2.49 and a beta of 1.01. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.13 and a current ratio of 1.22. The firm has a fifty day moving average of $33.93 and a two-hundred day moving average of $33.43.

Devon Energy (NYSE:DVN) last issued its quarterly earnings results on Wednesday, November 5th. The energy company reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.11. The business had revenue of $0.00 million for 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 in the previous year, the business posted $1.10 earnings per share. On average, analysts forecast that Devon Energy Corporation will post 4.85 earnings per share for the current year.

Devon Energy Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Raymond James Financial reissued an “outperform” rating and issued a $45.00 price objective (up from $40.00) on shares of Devon Energy in a report on Tuesday, July 22nd. Roth Capital initiated coverage on shares of Devon Energy in a research note on Monday, October 13th. They set a “buy” rating and a $42.00 price target for the company. Piper Sandler dropped their price objective on shares of Devon Energy from $58.00 to $57.00 and set an “overweight” rating on the stock in a research note on Thursday, August 14th. Wells Fargo & Company reduced their target price on shares of Devon Energy from $43.00 to $37.00 and set an “overweight” rating for the company in a report on Friday, October 17th. Finally, The Goldman Sachs Group raised their price target on Devon Energy from $40.00 to $42.00 and gave the stock a “buy” rating in a report on Thursday, November 13th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $43.86.

About Devon Energy

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.