Devon Energy Co. (NYSE:DVN) Shares Sold by Realta Investment Advisors

Realta Investment Advisors lowered its position in Devon Energy Co. (NYSE:DVN) by 16.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,607 shares of the energy company’s stock after selling 1,107 shares during the period. Realta Investment Advisors’ holdings in Devon Energy were worth $240,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Triad Wealth Partners LLC acquired a new position in Devon Energy in the 2nd quarter worth about $27,000. 1620 Investment Advisors Inc. acquired a new stake in Devon Energy in the 2nd quarter valued at $34,000. PSI Advisors LLC increased its holdings in Devon Energy by 66.7% in the 2nd quarter. PSI Advisors LLC now owns 750 shares of the energy company’s stock worth $36,000 after acquiring an additional 300 shares in the last quarter. LRI Investments LLC acquired a new position in Devon Energy during the first quarter worth $39,000. Finally, Manchester Capital Management LLC lifted its holdings in Devon Energy by 40.9% during the first quarter. Manchester Capital Management LLC now owns 861 shares of the energy company’s stock valued at $43,000 after purchasing an additional 250 shares in the last quarter. 69.72% of the stock is owned by hedge funds and other institutional investors.

Devon Energy Stock Down 0.9 %

Shares of NYSE DVN opened at $38.32 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.11 and a debt-to-equity ratio of 0.45. The business’s 50 day moving average is $41.04 and its two-hundred day moving average is $45.33. Devon Energy Co. has a 52-week low of $37.76 and a 52-week high of $55.09. The firm has a market cap of $24.00 billion, a price-to-earnings ratio of 6.95, a PEG ratio of 1.18 and a beta of 2.03.

Devon Energy (NYSE:DVN) last posted its earnings results on Tuesday, August 6th. The energy company reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.15. The firm had revenue of $3.92 billion for the quarter, compared to analyst estimates of $3.90 billion. Devon Energy had a return on equity of 29.14% and a net margin of 22.60%. Devon Energy’s revenue was up 13.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.18 EPS. Research analysts predict that Devon Energy Co. will post 4.93 EPS for the current year.

Devon Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.30%. The ex-dividend date was Friday, September 13th. Devon Energy’s payout ratio is currently 15.97%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Sanford C. Bernstein reduced their price target on shares of Devon Energy from $48.00 to $43.00 and set a “market perform” rating for the company in a research report on Wednesday, July 17th. Scotiabank reduced their target price on Devon Energy from $60.00 to $48.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. BMO Capital Markets lowered their price target on Devon Energy from $52.00 to $48.00 and set an “outperform” rating on the stock in a research note on Friday, October 4th. Evercore ISI reduced their price objective on Devon Energy from $55.00 to $50.00 and set an “in-line” rating for the company in a research note on Monday, September 30th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Devon Energy from $64.00 to $51.00 and set an “overweight” rating on the stock in a research note on Thursday, September 12th. Nine research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, Devon Energy has an average rating of “Moderate Buy” and an average target price of $52.53.

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.