Devon Energy Co. (NYSE:DVN) Shares Sold by Martin Capital Partners LLC

Martin Capital Partners LLC reduced its stake in shares of Devon Energy Co. (NYSE:DVN) by 62.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,625 shares of the energy company’s stock after selling 29,833 shares during the quarter. Martin Capital Partners LLC’s holdings in Devon Energy were worth $577,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Riversedge Advisors LLC boosted its holdings in Devon Energy by 3.6% in the third quarter. Riversedge Advisors LLC now owns 7,336 shares of the energy company’s stock valued at $287,000 after purchasing an additional 253 shares during the period. Modus Advisors LLC raised its position in Devon Energy by 2.4% in the 3rd quarter. Modus Advisors LLC now owns 11,439 shares of the energy company’s stock valued at $447,000 after purchasing an additional 272 shares in the last quarter. Hazlett Burt & Watson Inc. boosted its stake in shares of Devon Energy by 29.8% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 1,263 shares of the energy company’s stock valued at $49,000 after buying an additional 290 shares during the period. Sfmg LLC grew its position in shares of Devon Energy by 0.5% during the third quarter. Sfmg LLC now owns 64,871 shares of the energy company’s stock worth $2,538,000 after buying an additional 294 shares in the last quarter. Finally, Redwood Wealth Management Group LLC increased its stake in shares of Devon Energy by 3.9% during the fourth quarter. Redwood Wealth Management Group LLC now owns 8,141 shares of the energy company’s stock worth $266,000 after buying an additional 309 shares during the period. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Devon Energy Stock Up 2.1 %

Shares of Devon Energy stock opened at $34.46 on Wednesday. The company has a market cap of $22.63 billion, a P/E ratio of 6.39, a PEG ratio of 1.07 and a beta of 1.98. The firm has a fifty day moving average of $34.73 and a two-hundred day moving average of $39.22. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.11. Devon Energy Co. has a one year low of $30.39 and a one year high of $55.09.

Devon Energy (NYSE:DVN) last announced its quarterly earnings data on Tuesday, November 5th. The energy company reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.01. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%. The firm had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $3.72 billion. During the same quarter last year, the firm earned $1.65 earnings per share. The firm’s revenue was up 4.9% compared to the same quarter last year. On average, analysts forecast that Devon Energy Co. will post 4.68 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on DVN shares. Benchmark upgraded shares of Devon Energy from a “hold” rating to a “buy” rating and set a $44.00 price target for the company in a report on Tuesday, January 14th. Sanford C. Bernstein upgraded shares of Devon Energy from a “market perform” rating to an “outperform” rating and set a $45.00 target price for the company in a research note on Wednesday, January 15th. StockNews.com raised Devon Energy from a “sell” rating to a “hold” rating in a research report on Friday, January 3rd. Citigroup cut their target price on Devon Energy from $55.00 to $48.00 and set a “buy” rating on the stock in a research report on Tuesday, November 26th. Finally, Wolfe Research raised Devon Energy from a “peer perform” rating to an “outperform” rating and set a $45.00 price target for the company in a report on Friday, January 3rd. Nine equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $49.45.

Devon Energy Company 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.