Saxon Interests Inc. Sells 795 Shares of Devon Energy Co. (NYSE:DVN)

Saxon Interests Inc. trimmed its holdings in shares of Devon Energy Co. (NYSE:DVN) by 3.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 19,818 shares of the energy company’s stock after selling 795 shares during the quarter. Saxon Interests Inc.’s holdings in Devon Energy were worth $994,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of DVN. Manchester Capital Management LLC acquired a new position in shares of Devon Energy during the 4th quarter valued at about $28,000. Sound Income Strategies LLC grew its holdings in Devon Energy by 60.7% during the fourth quarter. Sound Income Strategies LLC now owns 675 shares of the energy company’s stock valued at $31,000 after purchasing an additional 255 shares during the last quarter. Rise Advisors LLC grew its holdings in Devon Energy by 1,365.3% during the fourth quarter. Rise Advisors LLC now owns 718 shares of the energy company’s stock valued at $33,000 after purchasing an additional 669 shares during the last quarter. Jones Financial Companies Lllp lifted its stake in shares of Devon Energy by 104.8% in the fourth quarter. Jones Financial Companies Lllp now owns 731 shares of the energy company’s stock worth $33,000 after buying an additional 374 shares during the last quarter. Finally, PFS Partners LLC bought a new stake in shares of Devon Energy during the 4th quarter worth $36,000. 69.72% of the stock is currently owned by institutional investors.

Insider Transactions at Devon Energy

In other news, EVP Tana K. Cashion sold 20,000 shares of Devon Energy stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $51.04, for a total value of $1,020,800.00. Following the completion of the transaction, the executive vice president now owns 104,182 shares in the company, valued at $5,317,449.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.73% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

DVN has been the topic of several recent analyst reports. Royal Bank of Canada lifted their target price on shares of Devon Energy from $55.00 to $57.00 and gave the stock a “sector perform” rating in a report on Thursday, May 9th. JPMorgan Chase & Co. boosted their price objective on Devon Energy from $57.00 to $62.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Mizuho raised their target price on Devon Energy from $57.00 to $61.00 and gave the company a “buy” rating in a report on Monday, May 13th. Barclays began coverage on Devon Energy in a report on Wednesday, April 10th. They set an “equal weight” rating and a $59.00 price target for the company. Finally, Stifel Nicolaus raised their price objective on shares of Devon Energy from $65.00 to $66.00 and gave the stock a “buy” rating in a research note on Tuesday, April 23rd. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $59.24.

Devon Energy Price Performance

NYSE:DVN traded up $0.04 during mid-day trading on Tuesday, hitting $47.77. The company’s stock had a trading volume of 4,781,235 shares, compared to its average volume of 7,326,062. The company has a market capitalization of $30.19 billion, a price-to-earnings ratio of 9.12, a P/E/G ratio of 1.25 and a beta of 2.07. The company has a current ratio of 1.04, a quick ratio of 0.97 and a debt-to-equity ratio of 0.46. Devon Energy Co. has a fifty-two week low of $40.47 and a fifty-two week high of $55.09. The stock has a fifty day moving average of $48.55 and a 200-day moving average of $46.97.

Devon Energy (NYSE:DVN) last issued its earnings results on Wednesday, May 1st. The energy company reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.06. The business had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.64 billion. Devon Energy had a return on equity of 29.02% and a net margin of 22.27%. Devon Energy’s quarterly revenue was down 5.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.46 EPS. As a group, equities analysts forecast that Devon Energy Co. will post 5.25 EPS for the current fiscal year.

Devon Energy Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were paid a $0.22 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $0.88 annualized dividend and a dividend yield of 1.84%. Devon Energy’s dividend payout ratio is presently 16.79%.

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.