Devon Energy Co. (NYSE:DVN) Shares Sold by Fulton Bank N.A.

Fulton Bank N.A. trimmed its stake in shares of Devon Energy Co. (NYSE:DVN – Get Rating) by 14.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 10,285 shares of the energy company’s stock after selling 1,791 shares during the quarter. Fulton Bank N.A.’s holdings in Devon Energy were worth $633,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in DVN. Canada Pension Plan Investment Board acquired a new stake in shares of Devon Energy during the 1st quarter worth approximately $26,000. SJS Investment Consulting Inc. acquired a new stake in shares of Devon Energy during the 3rd quarter worth approximately $29,000. Financial Enhancement Group LLC acquired a new stake in shares of Devon Energy during the 3rd quarter worth approximately $29,000. Optimum Investment Advisors acquired a new stake in Devon Energy in the 3rd quarter valued at approximately $30,000. Finally, Clearstead Advisors LLC increased its position in Devon Energy by 1,738.7% in the 3rd quarter. Clearstead Advisors LLC now owns 570 shares of the energy company’s stock valued at $34,000 after acquiring an additional 539 shares during the period. 78.08% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Devon Energy

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

Analysts Set New Price Targets

Several research firms recently commented on DVN. Morgan Stanley lowered their target price on Devon Energy from $67.00 to $61.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 24th. Wells Fargo & Company decreased their price target on Devon Energy from $70.00 to $59.00 and set an “equal weight” rating for the company in a research note on Friday, February 17th. Susquehanna decreased their price target on Devon Energy from $79.00 to $72.00 and set a “positive” rating for the company in a research note on Thursday, February 16th. Citigroup decreased their price target on Devon Energy from $77.00 to $66.00 and set a “buy” rating for the company in a research note on Thursday, February 23rd. Finally, StockNews.com started coverage on Devon Energy in a research note on Thursday. They set a “hold” rating for the company. Eight investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $72.42.

Devon Energy Trading Down 0.3 %

Shares of NYSE:DVN opened at $46.15 on Friday. The company has a market cap of $30.18 billion, a P/E ratio of 5.06, a P/E/G ratio of 0.14 and a beta of 2.33. The stock’s 50-day moving average is $58.77 and its 200-day moving average is $64.30. Devon Energy Co. has a 52-week low of $44.03 and a 52-week high of $79.40. 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 (NYSE:DVN – Get Rating) last issued its quarterly earnings results on Wednesday, February 15th. The energy company reported $1.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.75 by ($0.09). The business had revenue of $4.30 billion during the quarter, compared to analyst estimates of $4.29 billion. Devon Energy had a net margin of 31.38% and a return on equity of 52.20%. The company’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.39 earnings per share. Equities research analysts predict that Devon Energy Co. will post 6.97 earnings per share for the current year.

Devon Energy Increases Dividend

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

Devon Energy Company Profile

(Get Rating)

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.