Commonwealth Equity Services LLC Sells 193,334 Shares of Devon Energy Corporation $DVN

Commonwealth Equity Services LLC lessened its stake in Devon Energy Corporation (NYSE:DVN) by 46.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 224,317 shares of the energy company’s stock after selling 193,334 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Devon Energy were worth $7,865,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. PFS Partners LLC acquired a new position in shares of Devon Energy in the 3rd quarter valued at approximately $25,000. Opal Wealth Advisors LLC acquired a new position in Devon Energy during the second quarter valued at approximately $25,000. Caldwell Trust Co bought a new stake in Devon Energy during the second quarter worth $25,000. Trust Co. of Vermont lifted its stake in Devon Energy by 241.3% during the second quarter. Trust Co. of Vermont now owns 942 shares of the energy company’s stock worth $30,000 after purchasing an additional 666 shares during the last quarter. Finally, American National Bank & Trust boosted its holdings in shares of Devon Energy by 2,638.9% in the 3rd quarter. American National Bank & Trust now owns 986 shares of the energy company’s stock valued at $35,000 after purchasing an additional 950 shares in the last quarter. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently commented on DVN. Susquehanna boosted their price target on Devon Energy from $40.00 to $42.00 and gave the stock a “positive” rating in a report on Wednesday, November 12th. UBS Group raised Devon Energy from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $40.00 to $46.00 in a research note on Friday, December 12th. Johnson Rice dropped their target price on shares of Devon Energy from $70.00 to $62.00 and set a “buy” rating for the company in a report on Friday, December 5th. Piper Sandler decreased their price target on shares of Devon Energy from $57.00 to $55.00 and set an “overweight” rating on the stock in a report on Tuesday, November 18th. Finally, Wells Fargo & Company dropped their price objective on shares of Devon Energy from $43.00 to $37.00 and set an “overweight” rating for the company in a research note on Friday, October 17th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Devon Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $44.62.

Devon Energy Stock Performance

Shares of DVN stock opened at $36.80 on Wednesday. The firm has a market capitalization of $23.09 billion, a price-to-earnings ratio of 8.66, a PEG ratio of 2.94 and a beta of 0.60. The company has a current ratio of 0.96, a quick ratio of 0.87 and a debt-to-equity ratio of 0.48. The business’s 50-day moving average price is $36.10 and its 200-day moving average price is $34.60. Devon Energy Corporation has a 12 month low of $25.89 and a 12 month high of $38.88.

Devon Energy (NYSE:DVN) last issued its quarterly earnings data on Wednesday, November 5th. The energy company reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.11. Devon Energy had a net margin of 15.56% and a return on equity of 18.14%. The business had revenue of $0.00 million during the quarter, compared to analyst estimates of $4.10 billion. During the same quarter last year, the business earned $1.10 EPS. Equities research analysts forecast that Devon Energy Corporation will post 4.85 EPS for the current year.

Devon Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 30th. Stockholders of record on Monday, December 15th were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date was Monday, December 15th. Devon Energy’s payout ratio is 22.59%.

About Devon Energy

Devon Energy Corporation (NYSE: DVN) is an independent oil and gas exploration and production company headquartered in Oklahoma City, Oklahoma. The company focuses on the exploration, development, production and marketing of hydrocarbons, including crude oil, natural gas liquids (NGLs) and natural gas. Devon operates as an upstream energy company that acquires, evaluates and develops onshore resource plays using a combination of drilling, completion and production optimization techniques.

Core business activities include identifying and developing energy reserves, operating well programs and managing reservoir performance to generate production and cash flow.