Devon Energy Co. (NYSE:DVN) Shares Sold by Bleakley Financial Group LLC

Bleakley Financial Group LLC decreased its position in shares of Devon Energy Co. (NYSE:DVN) by 3.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,605 shares of the energy company’s stock after selling 469 shares during the period. Bleakley Financial Group LLC’s holdings in Devon Energy were worth $526,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in DVN. Pacer Advisors Inc. increased its stake in Devon Energy by 1,279.7% during the 4th quarter. Pacer Advisors Inc. now owns 6,145,605 shares of the energy company’s stock worth $278,396,000 after buying an additional 5,700,167 shares during the period. T. Rowe Price Investment Management Inc. increased its stake in Devon Energy by 96.4% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 5,608,577 shares of the energy company’s stock worth $344,984,000 after buying an additional 2,752,752 shares during the period. J.P. Morgan Private Wealth Advisors LLC purchased a new stake in Devon Energy during the 3rd quarter worth approximately $113,793,000. Morgan Stanley increased its stake in Devon Energy by 23.6% during the 3rd quarter. Morgan Stanley now owns 11,647,104 shares of the energy company’s stock worth $555,567,000 after buying an additional 2,220,194 shares during the period. Finally, International Assets Investment Management LLC increased its stake in Devon Energy by 3,885.4% during the 4th quarter. International Assets Investment Management LLC now owns 1,695,206 shares of the energy company’s stock worth $76,793,000 after buying an additional 1,652,671 shares during the period. Institutional investors and hedge funds own 69.72% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on DVN. Morgan Stanley upped their target price on shares of Devon Energy from $48.00 to $49.00 and gave the stock an “overweight” rating in a research note on Thursday, March 28th. Citigroup increased their price objective on shares of Devon Energy from $55.00 to $62.00 and gave the company a “buy” rating in a research report on Thursday. Wells Fargo & Company raised shares of Devon Energy from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $46.00 to $59.00 in a research report on Monday, April 1st. Truist Financial dropped their price objective on shares of Devon Energy from $69.00 to $66.00 and set a “buy” rating on the stock in a research report on Friday, April 5th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Devon Energy from $57.00 to $62.00 and gave the company an “overweight” rating in a research report on Monday, April 8th. Five equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $57.83.

Devon Energy Trading Down 0.9 %

Shares of Devon Energy stock opened at $53.42 on Friday. The company has a fifty day simple moving average of $46.84 and a 200-day simple moving average of $45.74. Devon Energy Co. has a 12-month low of $40.47 and a 12-month high of $56.19. The company has a current ratio of 1.07, a quick ratio of 0.99 and a debt-to-equity ratio of 0.46. The stock has a market cap of $33.92 billion, a price-to-earnings ratio of 9.16 and a beta of 2.19.

Devon Energy (NYSE:DVN) last issued its earnings results on Tuesday, February 27th. The energy company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.02. The business had revenue of $4.15 billion during the quarter, compared to analysts’ expectations of $3.88 billion. Devon Energy had a net margin of 24.56% and a return on equity of 31.72%. The company’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.66 EPS. On average, equities analysts forecast that Devon Energy Co. will post 5.01 EPS for the current fiscal year.

Devon Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date was Thursday, March 14th. Devon Energy’s dividend payout ratio is currently 15.09%.

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.