Devon Energy Corporation $DVN Shares Sold by Fortem Financial Group LLC

Fortem Financial Group LLC reduced its holdings in shares of Devon Energy Corporation (NYSE:DVN) by 73.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,658 shares of the energy company’s stock after selling 34,988 shares during the quarter. Fortem Financial Group LLC’s holdings in Devon Energy were worth $444,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in DVN. Woodline Partners LP raised its position in shares of Devon Energy by 98.8% in the 1st quarter. Woodline Partners LP now owns 115,780 shares of the energy company’s stock valued at $4,330,000 after purchasing an additional 57,555 shares in the last quarter. Sivia Capital Partners LLC acquired a new position in shares of Devon Energy during the second quarter valued at $403,000. Trust Co. of Vermont raised its stake in shares of Devon Energy by 241.3% in the 2nd quarter. Trust Co. of Vermont now owns 942 shares of the energy company’s stock worth $30,000 after buying an additional 666 shares in the last quarter. Hilltop National Bank acquired a new stake in Devon Energy during the second quarter valued at approximately $445,000. Finally, Ameritas Advisory Services LLC purchased a new stake in shares of Devon Energy during the second quarter valued at $65,000. 69.72% of the stock is owned by institutional investors and hedge funds.

Devon Energy Trading Up 0.5%

NYSE:DVN opened at $40.14 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.96 and a quick ratio of 0.87. The stock has a market capitalization of $25.18 billion, a PE ratio of 9.44, a price-to-earnings-growth ratio of 3.64 and a beta of 0.60. Devon Energy Corporation has a fifty-two week low of $25.89 and a fifty-two week high of $41.31. The business’s 50-day simple moving average is $36.99 and its 200-day simple moving average is $35.02.

Devon Energy (NYSE:DVN) last released its quarterly earnings results on Wednesday, November 5th. The energy company reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.11. The firm had revenue of $0.00 million during the quarter, compared to the consensus estimate of $4.10 billion. Devon Energy had a return on equity of 18.14% and a net margin of 15.56%.During the same quarter in the prior year, the firm posted $1.10 EPS. Sell-side analysts expect that Devon Energy Corporation will post 4.85 earnings per share for the current fiscal year.

Devon Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 30th. Stockholders of record on Monday, December 15th were given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Monday, December 15th. Devon Energy’s payout ratio is presently 22.59%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Argus upgraded shares of Devon Energy to a “strong-buy” rating in a report on Wednesday, November 26th. Siebert Williams Shank raised their price target on shares of Devon Energy from $46.00 to $50.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. Sanford C. Bernstein lowered their target price on shares of Devon Energy from $48.00 to $42.00 and set an “outperform” rating on the stock in a research note on Monday, January 5th. Raymond James Financial upped their price objective on shares of Devon Energy from $42.00 to $44.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 3rd. Finally, Johnson Rice lowered their target price on Devon Energy from $70.00 to $62.00 and set a “buy” rating for the company in a research note on Friday, December 5th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $44.76.

Devon Energy Profile

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.