Annex Advisory Services LLC Sells 957 Shares of Devon Energy Co. (NYSE:DVN)

Annex Advisory Services LLC cut its holdings in shares of Devon Energy Co. (NYSE:DVN) by 3.5% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 26,694 shares of the energy company’s stock after selling 957 shares during the period. Annex Advisory Services LLC’s holdings in Devon Energy were worth $1,044,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. William B. Walkup & Associates Inc. acquired a new position in Devon Energy during the second quarter worth $1,026,000. Wahed Invest LLC grew its position in shares of Devon Energy by 6.3% in the 4th quarter. Wahed Invest LLC now owns 10,944 shares of the energy company’s stock valued at $496,000 after acquiring an additional 648 shares during the period. Tradewinds Capital Management LLC acquired a new position in shares of Devon Energy during the 1st quarter worth about $30,000. Gordian Capital Singapore Pte Ltd bought a new stake in shares of Devon Energy in the 2nd quarter valued at about $711,000. Finally, MCF Advisors LLC grew its holdings in Devon Energy by 5.6% during the first quarter. MCF Advisors LLC now owns 4,023 shares of the energy company’s stock worth $202,000 after purchasing an additional 215 shares during the period. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have issued reports on DVN shares. StockNews.com lowered Devon Energy from a “buy” rating to a “hold” rating in a research note on Monday, September 2nd. Wells Fargo & Company cut their price target on Devon Energy from $55.00 to $50.00 and set an “overweight” rating for the company in a report on Tuesday, October 1st. Royal Bank of Canada reiterated a “sector perform” rating and issued a $57.00 price objective on shares of Devon Energy in a report on Tuesday, September 3rd. Jefferies Financial Group started coverage on shares of Devon Energy in a research note on Thursday, October 3rd. They set a “hold” rating and a $45.00 target price for the company. Finally, Scotiabank decreased their price target on shares of Devon Energy from $60.00 to $48.00 and set a “sector outperform” rating on the stock in a research note on Thursday. Eight investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $52.63.

Devon Energy Stock Performance

NYSE:DVN opened at $42.96 on Monday. The company has a market cap of $27.15 billion, a price-to-earnings ratio of 8.20, a PEG ratio of 1.27 and a beta of 2.02. Devon Energy Co. has a fifty-two week low of $37.76 and a fifty-two week high of $55.09. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.03 and a current ratio of 1.11. The stock has a fifty day moving average price of $42.37 and a 200-day moving average price of $46.58.

Devon Energy (NYSE:DVN) last posted its quarterly earnings data on Tuesday, August 6th. The energy company reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.15. Devon Energy had a net margin of 22.60% and a return on equity of 29.14%. The business had revenue of $3.92 billion during the quarter, compared to analysts’ expectations of $3.90 billion. During the same quarter in the prior year, the business posted $1.18 earnings per share. Devon Energy’s revenue was up 13.4% compared to the same quarter last year. As a group, equities analysts anticipate that Devon Energy Co. will post 5.01 EPS for the current fiscal year.

Devon Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.88 annualized dividend and a yield of 2.05%. Devon Energy’s dividend payout ratio is currently 16.79%.

About Devon Energy

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.