Devon Energy Corporation $DVN Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. lessened its position in Devon Energy Corporation (NYSE:DVN) by 1.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 81,961,560 shares of the energy company’s stock after selling 819,178 shares during the period. Vanguard Group Inc. owned about 0.13% of Devon Energy worth $2,607,197,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. SVB Wealth LLC grew its stake in Devon Energy by 4.1% in the 1st quarter. SVB Wealth LLC now owns 8,131 shares of the energy company’s stock worth $304,000 after acquiring an additional 321 shares during the period. Yousif Capital Management LLC boosted its holdings in shares of Devon Energy by 0.4% during the second quarter. Yousif Capital Management LLC now owns 87,272 shares of the energy company’s stock worth $2,776,000 after purchasing an additional 321 shares during the last quarter. MAS Advisors LLC grew its position in shares of Devon Energy by 4.3% in the second quarter. MAS Advisors LLC now owns 7,951 shares of the energy company’s stock valued at $253,000 after purchasing an additional 327 shares during the period. Callan Family Office LLC increased its stake in Devon Energy by 3.7% in the first quarter. Callan Family Office LLC now owns 10,581 shares of the energy company’s stock valued at $396,000 after purchasing an additional 377 shares during the last quarter. Finally, Argent Trust Co increased its stake in Devon Energy by 1.7% in the first quarter. Argent Trust Co now owns 23,229 shares of the energy company’s stock valued at $869,000 after purchasing an additional 391 shares during the last quarter. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Devon Energy Trading Down 0.3%

DVN opened at $35.18 on Friday. The firm has a market capitalization of $22.07 billion, a P/E ratio of 7.89, a P/E/G ratio of 2.49 and a beta of 1.01. The firm’s 50 day moving average is $33.95 and its 200-day moving average is $33.49. 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 Corporation has a 52-week low of $25.89 and a 52-week high of $39.65.

Devon Energy (NYSE:DVN) last released its quarterly earnings results on Wednesday, November 5th. The energy company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.11. Devon Energy had a net margin of 16.57% and a return on equity of 18.59%. The firm had revenue of $0.00 million for the quarter, compared to the consensus estimate of $4.10 billion. During the same quarter in the previous year, the firm posted $1.10 EPS. Analysts expect that Devon Energy Corporation will post 4.85 EPS for the current fiscal year.

Devon Energy Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research firms have commented on DVN. Siebert Williams Shank lowered their price target on Devon Energy from $52.00 to $46.00 and set a “buy” rating for the company in a report on Monday, October 13th. Morgan Stanley dropped their price target on shares of Devon Energy from $49.00 to $47.00 and set an “overweight” rating for the company in a research report on Tuesday, October 14th. The Goldman Sachs Group increased their price target on shares of Devon Energy from $40.00 to $42.00 and gave the stock a “buy” rating in a research note on Thursday, November 13th. Barclays lowered their price objective on shares of Devon Energy from $42.00 to $40.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 7th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Devon Energy in a research report on Thursday, October 9th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $43.79.

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.