Amalgamated Bank Sells 38,900 Shares of Devon Energy Co. (NYSE:DVN)

Amalgamated Bank decreased its holdings in Devon Energy Co. (NYSE:DVN - Free Report) by 24.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 123,207 shares of the energy company's stock after selling 38,900 shares during the period. Amalgamated Bank's holdings in Devon Energy were worth $4,820,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Triad Wealth Partners LLC bought a new stake in shares of Devon Energy in the 2nd quarter worth $27,000. 1620 Investment Advisors Inc. bought a new stake in shares of Devon Energy in the 2nd quarter worth $34,000. PSI Advisors LLC increased its holdings in shares of Devon Energy by 66.7% in the 2nd quarter. PSI Advisors LLC now owns 750 shares of the energy company's stock worth $36,000 after purchasing an additional 300 shares in the last quarter. LRI Investments LLC bought a new stake in shares of Devon Energy in the 1st quarter worth $39,000. Finally, Manchester Capital Management LLC grew its holdings in shares of Devon Energy by 40.9% in the first quarter. Manchester Capital Management LLC now owns 861 shares of the energy company's stock worth $43,000 after acquiring an additional 250 shares during the period. Institutional investors own 69.72% of the company's stock.

Analyst Ratings Changes

Several analysts recently commented on DVN shares. JPMorgan Chase & Co. cut their price objective on Devon Energy from $64.00 to $51.00 and set an "overweight" rating for the company in a report on Thursday, September 12th. Raymond James cut their price objective on Devon Energy from $58.00 to $51.00 in a report on Tuesday. Benchmark reaffirmed a "hold" rating on shares of Devon Energy in a report on Tuesday, October 15th. BMO Capital Markets cut their price objective on Devon Energy from $52.00 to $48.00 and set an "outperform" rating for the company in a report on Friday, October 4th. Finally, Jefferies Financial Group initiated coverage on Devon Energy in a report on Thursday, October 3rd. They issued a "hold" rating and a $45.00 price objective for the company. One equities research 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's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $51.80.

Devon Energy Trading Down 0.1 %

NYSE DVN traded down $0.02 during trading hours on Friday, hitting $38.87. 8,621,570 shares of the company were exchanged, compared to its average volume of 7,433,912. The stock has a market cap of $24.34 billion, a PE ratio of 7.06, a price-to-earnings-growth ratio of 1.20 and a beta of 2.03. The stock has a 50-day moving average price of $40.60 and a 200 day moving average price of $44.99. Devon Energy Co. has a 52 week low of $37.76 and a 52 week high of $55.09. The company has a quick ratio of 1.03, a current ratio of 1.11 and a debt-to-equity ratio of 0.45.

Devon Energy (NYSE:DVN - Get Free Report) last released its earnings results on Tuesday, November 5th. The energy company reported $1.10 EPS for the quarter, beating analysts' consensus estimates of $1.09 by $0.01. The firm had revenue of $4.02 billion for the quarter, compared to analysts' expectations of $3.72 billion. Devon Energy had a return on equity of 29.14% and a net margin of 22.60%. The company's quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.65 earnings per share. Analysts forecast that Devon Energy Co. will post 4.93 earnings per share for the current fiscal year.

Devon Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.26%. Devon Energy's dividend payout ratio is 15.97%.

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.