EagleClaw Capital Managment LLC Cuts Stock Holdings in Devon Energy Co. (NYSE:DVN)

EagleClaw Capital Managment LLC reduced its stake in Devon Energy Co. (NYSE:DVN) by 1.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 102,190 shares of the energy company’s stock after selling 1,085 shares during the quarter. EagleClaw Capital Managment LLC’s holdings in Devon Energy were worth $3,998,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Triad Wealth Partners LLC purchased a new stake in Devon Energy during the second quarter valued at about $27,000. 1620 Investment Advisors Inc. bought a new stake in shares of Devon Energy in the second quarter worth approximately $34,000. Capital Performance Advisors LLP purchased a new stake in Devon Energy during the third quarter valued at $35,000. PSI Advisors LLC increased its holdings in Devon Energy by 66.7% during the second quarter. PSI Advisors LLC now owns 750 shares of the energy company’s stock valued at $36,000 after buying an additional 300 shares during the last quarter. Finally, LRI Investments LLC purchased a new stake in Devon Energy in the first quarter worth about $39,000. 69.72% of the stock is currently owned by institutional investors.

Devon Energy Price Performance

DVN traded up $0.40 during midday trading on Wednesday, reaching $38.31. 375,630 shares of the company’s stock were exchanged, compared to its average volume of 7,400,081. The business’s 50-day moving average price is $39.99 and its 200 day moving average price is $44.15. The stock has a market capitalization of $25.17 billion, a PE ratio of 7.03, a P/E/G ratio of 1.20 and a beta of 2.03. Devon Energy Co. has a 1-year low of $37.76 and a 1-year high of $55.09. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.11 and a quick ratio of 1.01.

Devon Energy (NYSE:DVN) last released its quarterly earnings results on Tuesday, November 5th. The energy company reported $1.10 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.01. The company had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $3.72 billion. Devon Energy had a return on equity of 24.73% and a net margin of 21.71%. Devon Energy’s revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.65 earnings per share. As a group, equities analysts anticipate that Devon Energy Co. will post 4.84 EPS for the current fiscal year.

Devon Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.88 dividend on an annualized basis and a yield of 2.30%. Devon Energy’s dividend payout ratio (DPR) is currently 16.33%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on DVN. Truist Financial lowered Devon Energy from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $49.00 to $43.00 in a research note on Thursday, November 7th. UBS Group cut their price target on shares of Devon Energy from $53.00 to $47.00 and set a “neutral” rating on the stock in a report on Wednesday, September 18th. Raymond James decreased their target price on Devon Energy from $58.00 to $51.00 in a research report on Tuesday, November 5th. TD Cowen decreased their price target on shares of Devon Energy from $54.00 to $46.00 and set a “hold” rating for the company in a research note on Tuesday, November 5th. Finally, Benchmark reaffirmed a “hold” rating on shares of Devon Energy in a research note on Tuesday, October 15th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $51.85.

Devon Energy Profile

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.