Devon Energy Co. (NYSE:DVN) Shares Sold by Stifel Financial Corp

Stifel Financial Corp lessened its holdings in shares of Devon Energy Co. (NYSE:DVN) by 7.7% during the 4th quarter, Holdings Channel reports. The firm owned 915,906 shares of the energy company’s stock after selling 76,370 shares during the period. Stifel Financial Corp’s holdings in Devon Energy were worth $29,978,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Hurley Capital LLC purchased a new position in Devon Energy in the 4th quarter valued at approximately $26,000. Cromwell Holdings LLC boosted its stake in shares of Devon Energy by 98.0% in the 4th quarter. Cromwell Holdings LLC now owns 1,208 shares of the energy company’s stock valued at $40,000 after buying an additional 598 shares during the period. Sierra Ocean LLC acquired a new position in Devon Energy during the 4th quarter worth approximately $43,000. Endeavor Private Wealth Inc. acquired a new stake in shares of Devon Energy in the 4th quarter valued at $52,000. Finally, Thompson Investment Management Inc. lifted its position in shares of Devon Energy by 60.0% during the 4th quarter. Thompson Investment Management Inc. now owns 1,600 shares of the energy company’s stock worth $52,000 after purchasing an additional 600 shares during the last quarter. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Barclays decreased their price target on Devon Energy from $44.00 to $38.00 and set an “equal weight” rating for the company in a report on Wednesday. Scotiabank lowered their price target on Devon Energy from $45.00 to $35.00 and set a “sector outperform” rating for the company in a report on Friday, April 11th. Susquehanna cut their price objective on shares of Devon Energy from $52.00 to $41.00 and set a “positive” rating on the stock in a report on Tuesday. Sanford C. Bernstein raised shares of Devon Energy from a “market perform” rating to an “outperform” rating and set a $45.00 target price on the stock in a research report on Wednesday, January 15th. Finally, Raymond James set a $40.00 price objective on Devon Energy in a report on Monday. Ten analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $44.83.

Devon Energy Trading Up 1.3 %

NYSE DVN opened at $31.47 on Friday. Devon Energy Co. has a 52-week low of $25.89 and a 52-week high of $53.20. The firm has a 50-day moving average price of $33.63 and a 200 day moving average price of $35.53. The stock has a market capitalization of $20.42 billion, a P/E ratio of 6.90, a P/E/G ratio of 1.20 and a beta of 1.50. The company has a quick ratio of 1.01, a current ratio of 1.04 and a debt-to-equity ratio of 0.57.

Devon Energy (NYSE:DVN) last posted its quarterly earnings results on Tuesday, February 18th. The energy company reported $1.16 EPS for the quarter, beating the consensus estimate of $1.00 by $0.16. The business had revenue of $4.40 billion during the quarter, compared to analysts’ expectations of $4.25 billion. Devon Energy had a return on equity of 22.52% and a net margin of 18.14%. Equities research analysts expect that Devon Energy Co. will post 4.85 EPS for the current year.

Devon Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.05%. The ex-dividend date of this dividend was Friday, March 14th. This is an increase from Devon Energy’s previous quarterly dividend of $0.22. Devon Energy’s dividend payout ratio (DPR) is currently 21.05%.

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.