Atria Investments Inc Reduces Stock Position in Devon Energy Co. (NYSE:DVN)

Atria Investments Inc reduced its holdings in shares of Devon Energy Co. (NYSE:DVN - Free Report) by 57.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,257 shares of the energy company's stock after selling 48,733 shares during the quarter. Atria Investments Inc's holdings in Devon Energy were worth $1,187,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of DVN. Cromwell Holdings LLC lifted its stake in shares of Devon Energy by 98.0% during the 4th 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 purchased a new stake in shares of Devon Energy during the 4th quarter valued at approximately $43,000. True Wealth Design LLC lifted its stake in shares of Devon Energy by 3,889.3% during 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 in the last quarter. Activest Wealth Management increased its holdings in Devon Energy by 60.4% during the 3rd quarter. Activest Wealth Management now owns 1,275 shares of the energy company's stock worth $50,000 after acquiring an additional 480 shares during the period. Finally, Endeavor Private Wealth Inc. bought a new stake in Devon Energy during the 4th quarter worth approximately $52,000. 69.72% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on DVN. Mizuho decreased their target price on shares of Devon Energy from $51.00 to $47.00 and set an "outperform" rating on the stock in a report on Monday, December 16th. Wolfe Research raised shares of Devon Energy from a "peer perform" rating to an "outperform" rating and set a $45.00 target price on the stock in a report on Friday, January 3rd. Cowen lowered shares of Devon Energy to a "hold" rating and decreased their target price for the stock from $46.00 to $45.00 in a report on Tuesday, February 18th. JPMorgan Chase & Co. lowered shares of Devon Energy from an "overweight" rating to a "neutral" rating and set a $43.00 target price on the stock. in a report on Thursday, December 5th. Finally, Citigroup lowered shares of Devon Energy from a "buy" rating to a "reduce" rating in a report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $48.58.

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Devon Energy Trading Up 0.5 %

NYSE DVN opened at $34.40 on Wednesday. Devon Energy Co. has a 1-year low of $30.39 and a 1-year high of $55.09. The company has a current ratio of 1.04, a quick ratio of 1.01 and a debt-to-equity ratio of 0.57. The stock has a 50-day moving average of $35.32 and a 200-day moving average of $37.49. The firm has a market cap of $22.32 billion, a PE ratio of 7.54, a price-to-earnings-growth ratio of 1.20 and a beta of 1.91.

Devon Energy (NYSE:DVN - Get Free Report) last released its earnings results on Tuesday, February 18th. The energy company reported $1.16 earnings per share for the quarter, beating 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 company had revenue of $4.40 billion during the quarter, compared to analyst estimates of $4.25 billion. As a group, sell-side analysts forecast that Devon Energy Co. will post 4.85 EPS for the current year.

Devon Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a dividend of $0.24 per share. This is a positive change from Devon Energy's previous quarterly dividend of $0.22. The ex-dividend date is Friday, March 14th. This represents a $0.96 dividend on an annualized basis and a yield of 2.79%. Devon Energy's dividend 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.

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