Devon Energy Co. (NYSE:DVN) Shares Sold by Stonebrook Private Inc.

Stonebrook Private Inc. trimmed its holdings in shares of Devon Energy Co. (NYSE:DVN) by 80.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,576 shares of the energy company’s stock after selling 42,856 shares during the period. Stonebrook Private Inc.’s holdings in Devon Energy were worth $346,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Klein Pavlis & Peasley Financial Inc. acquired a new stake in Devon Energy during the 4th quarter valued at approximately $782,000. Resona Asset Management Co. Ltd. acquired a new position in shares of Devon Energy in the 4th quarter valued at $5,967,000. New York State Teachers Retirement System lifted its stake in shares of Devon Energy by 4.5% in the 4th quarter. New York State Teachers Retirement System now owns 736,351 shares of the energy company’s stock valued at $24,101,000 after purchasing an additional 31,520 shares during the period. First Dallas Securities Inc. lifted its stake in shares of Devon Energy by 31.9% in the 4th quarter. First Dallas Securities Inc. now owns 52,715 shares of the energy company’s stock valued at $1,725,000 after purchasing an additional 12,760 shares during the period. Finally, Aviva PLC lifted its stake in shares of Devon Energy by 767.3% in the 4th quarter. Aviva PLC now owns 376,999 shares of the energy company’s stock valued at $12,339,000 after purchasing an additional 333,530 shares during the period. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Cowen cut shares of Devon Energy to a “hold” rating and decreased their target price for the company from $46.00 to $45.00 in a research note on Tuesday, February 18th. Raymond James set a $40.00 target price on shares of Devon Energy in a research note on Monday, April 21st. UBS Group decreased their target price on shares of Devon Energy from $41.00 to $35.00 and set a “neutral” rating for the company in a research note on Monday, April 7th. StockNews.com raised shares of Devon Energy from a “sell” rating to a “hold” rating in a report on Thursday. Finally, Scotiabank cut their price target on shares of Devon Energy from $45.00 to $35.00 and set a “sector outperform” rating for the company in a report on Friday, April 11th. Ten analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $43.83.

Devon Energy Stock Down 0.4%

DVN stock opened at $33.26 on Friday. The company’s 50 day moving average price is $32.50 and its 200 day moving average price is $34.54. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.01 and a current ratio of 1.04. Devon Energy Co. has a fifty-two week low of $25.89 and a fifty-two week high of $50.24. The firm has a market capitalization of $21.35 billion, a price-to-earnings ratio of 7.29, a PEG ratio of 1.20 and a beta of 1.00.

Devon Energy (NYSE:DVN) last announced its quarterly earnings results on Tuesday, May 6th. The energy company reported $1.21 EPS for the quarter, missing the consensus estimate of $1.27 by ($0.06). The company had revenue of $4.45 billion during the quarter, compared to analysts’ expectations of $4.31 billion. Devon Energy had a net margin of 18.14% and a return on equity of 22.52%. The business’s revenue for the quarter was up 23.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.16 earnings per share. On average, equities research analysts anticipate that Devon Energy Co. will post 4.85 EPS for the current fiscal year.

Devon Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.96 annualized dividend and a yield of 2.89%. Devon Energy’s dividend payout ratio is currently 21.87%.

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.