Devon Energy Co. (NYSE:DVN) Shares Sold by American Trust

American Trust lessened its stake in Devon Energy Co. (NYSE:DVN – Get Rating) by 29.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,104 shares of the energy company’s stock after selling 1,722 shares during the quarter. American Trust’s holdings in Devon Energy were worth $247,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. O Shaughnessy Asset Management LLC boosted its holdings in shares of Devon Energy by 11.1% in the 2nd quarter. O Shaughnessy Asset Management LLC now owns 114,108 shares of the energy company’s stock valued at $6,288,000 after purchasing an additional 11,381 shares during the last quarter. Trustcore Financial Services LLC boosted its holdings in shares of Devon Energy by 23.1% in the 3rd quarter. Trustcore Financial Services LLC now owns 1,600 shares of the energy company’s stock valued at $96,000 after purchasing an additional 300 shares during the last quarter. Voya Investment Management LLC boosted its holdings in shares of Devon Energy by 35.9% in the 2nd quarter. Voya Investment Management LLC now owns 332,753 shares of the energy company’s stock valued at $18,338,000 after purchasing an additional 87,870 shares during the last quarter. Rothschild Investment Corp IL boosted its holdings in shares of Devon Energy by 11.1% in the 3rd quarter. Rothschild Investment Corp IL now owns 19,627 shares of the energy company’s stock valued at $1,181,000 after purchasing an additional 1,955 shares during the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of Devon Energy by 194.4% during the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 573,342 shares of the energy company’s stock valued at $34,475,000 after acquiring an additional 378,590 shares in the last quarter. Institutional investors and hedge funds own 78.08% of the company’s stock.

Wall Street Analyst Weigh In

DVN has been the topic of several recent research reports. Piper Sandler reduced their target price on shares of Devon Energy from $89.00 to $85.00 and set an “overweight” rating on the stock in a report on Tuesday, March 7th. Morgan Stanley reduced their target price on shares of Devon Energy from $67.00 to $61.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 24th. StockNews.com initiated coverage on shares of Devon Energy in a report on Thursday. They set a “hold” rating on the stock. Sanford C. Bernstein reduced their target price on shares of Devon Energy from $84.00 to $71.00 and set an “outperform” rating on the stock in a report on Thursday, February 16th. Finally, Wells Fargo & Company reduced their target price on shares of Devon Energy from $70.00 to $59.00 and set an “equal weight” rating on the stock in a report on Friday, February 17th. Eight analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $72.42.

Insider Buying and Selling at Devon Energy

In other Devon Energy news, EVP Dennis C. Cameron sold 7,179 shares of the business’s stock in a transaction dated Friday, February 17th. The shares were sold at an average price of $54.77, for a total transaction of $393,193.83. Following the completion of the transaction, the executive vice president now directly owns 262,498 shares of the company’s stock, valued at approximately $14,377,015.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Dennis C. Cameron sold 7,179 shares of the company’s stock in a transaction that occurred on Friday, February 17th. The shares were sold at an average price of $54.77, for a total value of $393,193.83. Following the completion of the sale, the executive vice president now directly owns 262,498 shares of the company’s stock, valued at approximately $14,377,015.46. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Richard E. Muncrief purchased 10,000 shares of Devon Energy stock in a transaction dated Friday, February 17th. The stock was bought at an average cost of $53.28 per share, with a total value of $532,800.00. Following the completion of the purchase, the chief executive officer now owns 1,973,977 shares in the company, valued at approximately $105,173,494.56. The disclosure for this purchase can be found here. 0.80% of the stock is currently owned by company insiders.

Devon Energy Price Performance

DVN opened at $46.15 on Friday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.19 and a current ratio of 1.25. Devon Energy Co. has a 1-year low of $44.03 and a 1-year high of $79.40. The company has a 50-day moving average of $58.77 and a 200-day moving average of $64.30. The company has a market capitalization of $30.18 billion, a P/E ratio of 5.06, a PEG ratio of 0.14 and a beta of 2.33.

Devon Energy (NYSE:DVN – Get Rating) last announced its quarterly earnings data on Wednesday, February 15th. The energy company reported $1.66 earnings per share for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.09). Devon Energy had a net margin of 31.38% and a return on equity of 52.20%. The business had revenue of $4.30 billion for the quarter, compared to the consensus estimate of $4.29 billion. During the same period in the prior year, the company earned $1.39 EPS. Devon Energy’s quarterly revenue was up .6% on a year-over-year basis. Equities analysts expect that Devon Energy Co. will post 6.97 EPS for the current fiscal year.

Devon Energy Increases Dividend

The company also recently announced a None dividend, which will be paid on Friday, March 31st. Shareholders of record on Wednesday, March 15th will be paid a dividend of $0.89 per share. This represents a yield of 9.3%. This is a positive change from Devon Energy’s previous None dividend of $0.49. The ex-dividend date of this dividend is Tuesday, March 14th. Devon Energy’s payout ratio is presently 8.77%.

About Devon Energy

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Devon Energy Corp. engages in the exploration, development, and production of oil and natural gas properties. It develops and operates Delaware Basin, Eagle Ford, Heavy Oil, Barnett Shale, STACK, and Rockies Oil. The company was founded by J. Larry Nichols and John W. Nichols in 1971 and is headquartered in Oklahoma City, OK.