Devon Energy Co. (NYSE:DVN) Shares Sold by Wellington Shields & Co. LLC

Wellington Shields & Co. LLC reduced its stake in Devon Energy Co. (NYSE:DVN) by 14.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 21,743 shares of the energy company’s stock after selling 3,763 shares during the quarter. Wellington Shields & Co. LLC’s holdings in Devon Energy were worth $712,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Cromwell Holdings LLC lifted its holdings in Devon Energy by 98.0% during the 4th quarter. Cromwell Holdings LLC now owns 1,208 shares of the energy company’s stock worth $40,000 after buying an additional 598 shares in the last quarter. Sierra Ocean LLC purchased a new position in shares of Devon Energy in the 4th quarter valued at $43,000. True Wealth Design LLC grew its position in shares of Devon Energy by 3,889.3% in the 3rd quarter. True Wealth Design LLC now owns 1,117 shares of the energy company’s stock valued at $44,000 after buying an additional 1,089 shares during the last quarter. Activest Wealth Management grew its position in shares of Devon Energy by 60.4% in the 3rd quarter. Activest Wealth Management now owns 1,275 shares of the energy company’s stock valued at $50,000 after buying an additional 480 shares during the last quarter. Finally, Endeavor Private Wealth Inc. acquired a new stake in Devon Energy during the 4th quarter worth $52,000. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Devon Energy Trading Up 2.1 %

Shares of DVN stock opened at $34.50 on Friday. The firm’s 50 day moving average price is $35.38 and its two-hundred day moving average price is $37.37. Devon Energy Co. has a fifty-two week low of $30.39 and a fifty-two week high of $55.09. The company has a quick ratio of 1.01, a current ratio of 1.04 and a debt-to-equity ratio of 0.57. The stock has a market cap of $22.39 billion, a price-to-earnings ratio of 7.56, a price-to-earnings-growth ratio of 1.20 and a beta of 1.91.

Devon Energy (NYSE:DVN) last posted its earnings results on Tuesday, February 18th. The energy company reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.16. Devon Energy had a net margin of 18.14% and a return on equity of 22.52%. The business had revenue of $4.40 billion for the quarter, compared to analysts’ expectations of $4.25 billion. On average, analysts anticipate that Devon Energy Co. will post 4.85 EPS for the current year.

Devon Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.78%. The ex-dividend date is Friday, March 14th. This is a positive change from Devon Energy’s previous quarterly dividend of $0.22. Devon Energy’s payout ratio is 21.05%.

Analyst Ratings Changes

DVN has been the subject of a number of recent research reports. Wolfe Research upgraded shares of Devon Energy from a “peer perform” rating to an “outperform” rating and set a $45.00 price target for the company in a research note on Friday, January 3rd. StockNews.com upgraded shares of Devon Energy from a “sell” rating to a “hold” rating in a research note on Friday, January 3rd. Sanford C. Bernstein upgraded shares of Devon Energy from a “market perform” rating to an “outperform” rating and set a $45.00 price objective for the company in a research note on Wednesday, January 15th. Piper Sandler raised their target price on shares of Devon Energy from $54.00 to $55.00 and gave the company an “overweight” rating in a report on Monday, February 24th. Finally, Citigroup downgraded shares of Devon Energy from a “buy” rating to a “reduce” rating in a report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, Devon Energy has a consensus rating of “Moderate Buy” and a consensus target price of $48.54.

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.