Simplicity Solutions LLC Sells 469 Shares of Devon Energy Co. (NYSE:DVN)

Simplicity Solutions LLC trimmed its holdings in shares of Devon Energy Co. (NYSE:DVN) by 3.9% during the fourth quarter, Holdings Channel.com reports. The fund owned 11,605 shares of the energy company’s stock after selling 469 shares during the quarter. Simplicity Solutions LLC’s holdings in Devon Energy were worth $526,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Canada Pension Plan Investment Board bought a new position in Devon Energy during the first quarter worth about $26,000. Fortis Capital Advisors LLC acquired a new stake in Devon Energy during the fourth quarter worth about $31,000. KB Financial Partners LLC acquired a new stake in Devon Energy during the first quarter worth about $26,000. Coppell Advisory Solutions LLC acquired a new stake in Devon Energy during the second quarter worth about $25,000. Finally, Annis Gardner Whiting Capital Advisors LLC acquired a new stake in Devon Energy during the third quarter worth about $27,000. 69.72% of the stock is owned by institutional investors.

Devon Energy Stock Down 0.5 %

NYSE:DVN opened at $51.43 on Friday. The firm’s 50 day simple moving average is $47.69 and its 200 day simple moving average is $45.86. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.07 and a quick ratio of 0.99. Devon Energy Co. has a one year low of $40.47 and a one year high of $55.09. The company has a market cap of $32.66 billion, a PE ratio of 8.82 and a beta of 2.19.

Devon Energy (NYSE:DVN) last posted its earnings results on Tuesday, February 27th. The energy company reported $1.41 EPS for the quarter, topping the consensus estimate of $1.39 by $0.02. Devon Energy had a net margin of 24.56% and a return on equity of 31.72%. The business had revenue of $4.15 billion for the quarter, compared to the consensus estimate of $3.88 billion. During the same period last year, the company earned $1.66 EPS. The firm’s revenue was down 3.6% compared to the same quarter last year. On average, research analysts anticipate that Devon Energy Co. will post 5.14 earnings per share for the current year.

Devon Energy Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were issued a dividend of $0.44 per share. The ex-dividend date was Thursday, March 14th. This represents a $1.76 annualized dividend and a yield of 3.42%. Devon Energy’s payout ratio is 15.09%.

Wall Street Analysts Forecast Growth

DVN has been the topic of a number of analyst reports. Wells Fargo & Company upgraded shares of Devon Energy from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $46.00 to $59.00 in a research note on Monday, April 1st. Stifel Nicolaus reduced their price objective on shares of Devon Energy from $75.00 to $65.00 and set a “buy” rating on the stock in a research note on Friday, March 22nd. Morgan Stanley increased their price objective on shares of Devon Energy from $49.00 to $50.00 and gave the stock an “overweight” rating in a research note on Monday. Raymond James reduced their price target on shares of Devon Energy from $53.00 to $52.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 24th. Finally, Scotiabank raised their price target on shares of Devon Energy from $53.00 to $67.00 and gave the company a “sector outperform” rating in a research note on Thursday, April 11th. Five investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $57.89.

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.