Key Client Fiduciary Advisors LLC Sells 903 Shares of Devon Energy Co. (NYSE:DVN)

Key Client Fiduciary Advisors LLC decreased its holdings in Devon Energy Co. (NYSE:DVN) by 12.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,209 shares of the energy company’s stock after selling 903 shares during the period. Key Client Fiduciary Advisors LLC’s holdings in Devon Energy were worth $203,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of DVN. EnCap Energy Capital Fund XI L.P. purchased a new position in Devon Energy in the 3rd quarter valued at approximately $461,857,000. EnCap Partners GP LLC purchased a new position in shares of Devon Energy in the third quarter valued at $408,653,000. EnCap Energy Capital Fund X L.P. purchased a new position in shares of Devon Energy in the third quarter valued at $230,928,000. International Assets Investment Management LLC raised its stake in shares of Devon Energy by 4,125.7% during the 3rd quarter. International Assets Investment Management LLC now owns 2,280,961 shares of the energy company’s stock valued at $89,231,000 after purchasing an additional 2,226,983 shares during the period. Finally, Pacer Advisors Inc. lifted its holdings in Devon Energy by 16.9% during the 3rd quarter. Pacer Advisors Inc. now owns 11,591,168 shares of the energy company’s stock worth $453,446,000 after purchasing an additional 1,677,652 shares in the last quarter. Institutional investors own 69.72% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on DVN. Raymond James upped their price target on Devon Energy from $53.00 to $54.00 and gave the company an “outperform” rating in a research report on Thursday. BMO Capital Markets decreased their target price on shares of Devon Energy from $52.00 to $48.00 and set an “outperform” rating on the stock in a report on Friday, October 4th. Scotiabank cut their price target on shares of Devon Energy from $60.00 to $48.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. JPMorgan Chase & Co. cut shares of Devon Energy from an “overweight” rating to a “neutral” rating and set a $43.00 price target on the stock. in a report on Thursday, December 5th. Finally, Evercore ISI dropped 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. Nine research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $49.41.

Devon Energy Stock Performance

Devon Energy stock opened at $36.43 on Friday. The firm has a fifty day simple moving average of $35.31 and a two-hundred day simple moving average of $40.02. Devon Energy Co. has a twelve month low of $30.39 and a twelve month high of $55.09. The company has a market capitalization of $23.93 billion, a PE ratio of 6.76, a P/E/G ratio of 1.22 and a beta of 2.00. The company has a quick ratio of 1.01, a current ratio of 1.11 and a debt-to-equity ratio of 0.61.

Devon Energy (NYSE:DVN) last issued its earnings results on Tuesday, November 5th. The energy company reported $1.10 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.01. Devon Energy had a return on equity of 24.73% and a net margin of 21.71%. The company had revenue of $4.02 billion during the quarter, compared to analysts’ expectations of $3.72 billion. During the same period in the prior year, the business posted $1.65 EPS. Devon Energy’s quarterly revenue was up 4.9% compared to the same quarter last year. Research analysts expect that Devon Energy Co. will post 4.68 EPS for the current year.

Devon Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Friday, December 13th were paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.42%. The ex-dividend date of this dividend was Friday, December 13th. Devon Energy’s payout ratio is 16.33%.

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.