Level Four Advisory Services LLC Sells 376 Shares of Devon Energy Co. (NYSE:DVN)

Level Four Advisory Services LLC reduced its position in Devon Energy Co. (NYSE:DVN) by 4.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,047 shares of the energy company’s stock after selling 376 shares during the period. Level Four Advisory Services LLC’s holdings in Devon Energy were worth $296,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of DVN. Cromwell Holdings LLC lifted its stake in shares of Devon Energy by 98.0% in the fourth quarter. Cromwell Holdings LLC now owns 1,208 shares of the energy company’s stock valued at $40,000 after buying an additional 598 shares in the last quarter. Sierra Ocean LLC bought a new position in Devon Energy in the 4th quarter valued at about $43,000. Endeavor Private Wealth Inc. acquired a new position in Devon Energy during the 4th quarter valued at about $52,000. Thompson Investment Management Inc. boosted its stake in Devon Energy by 60.0% during the 4th quarter. Thompson Investment Management Inc. now owns 1,600 shares of the energy company’s stock valued at $52,000 after purchasing an additional 600 shares during the last quarter. Finally, Asset Planning Inc bought a new stake in Devon Energy during the 4th quarter worth approximately $54,000. Institutional investors and hedge funds own 69.72% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on DVN shares. Susquehanna lifted their target price on Devon Energy from $50.00 to $52.00 and gave the company a “positive” rating in a research report on Thursday, February 20th. Cowen downgraded shares of Devon Energy to a “hold” rating and cut their price objective for the stock from $46.00 to $45.00 in a report on Tuesday, February 18th. Mizuho lowered their target price on shares of Devon Energy from $51.00 to $47.00 and set an “outperform” rating for the company in a report on Monday, December 16th. Morgan Stanley set a $47.00 price target on shares of Devon Energy and gave the stock an “overweight” rating in a report on Wednesday, March 26th. Finally, Wells Fargo & Company reduced their price objective on shares of Devon Energy from $49.00 to $43.00 and set an “overweight” rating for the company in a research report on Tuesday, December 17th. Ten investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $48.29.

Devon Energy Stock Up 0.4 %

DVN opened at $37.56 on Wednesday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 1.01. Devon Energy Co. has a one year low of $30.39 and a one year high of $55.09. The firm has a market capitalization of $24.37 billion, a P/E ratio of 8.24, a price-to-earnings-growth ratio of 1.20 and a beta of 1.91. The company has a fifty day moving average price of $35.39 and a 200-day moving average price of $36.81.

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

Devon Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were given a dividend of $0.24 per share. The ex-dividend date was Friday, March 14th. This is a positive change from Devon Energy’s previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a yield of 2.56%. Devon Energy’s payout ratio is presently 21.05%.

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.