Cerity Partners LLC Sells 13,239 Shares of Devon Energy Co. (NYSE:DVN)

Cerity Partners LLC lowered its holdings in Devon Energy Co. (NYSE:DVN - Free Report) by 6.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 195,357 shares of the energy company's stock after selling 13,239 shares during the period. Cerity Partners LLC's holdings in Devon Energy were worth $6,660,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Hurley Capital LLC purchased a new stake in Devon Energy in the 4th quarter worth about $26,000. Cromwell Holdings LLC increased its holdings in shares of Devon Energy by 98.0% in the 4th quarter. Cromwell Holdings LLC now owns 1,208 shares of the energy company's stock valued at $40,000 after purchasing an additional 598 shares during the period. Sierra Ocean LLC purchased a new stake in shares of Devon Energy in the fourth quarter worth approximately $43,000. Endeavor Private Wealth Inc. acquired a new stake in shares of Devon Energy during the fourth quarter worth approximately $52,000. Finally, Thompson Investment Management Inc. grew its position in Devon Energy by 60.0% during the fourth 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 in the last quarter. Institutional investors and hedge funds own 69.72% of the company's stock.

Devon Energy Stock Performance

DVN stock traded down $0.19 on Tuesday, reaching $28.54. 5,364,657 shares of the company were exchanged, compared to its average volume of 8,384,757. 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 12 month low of $25.89 and a 12 month high of $54.04. The stock's fifty day moving average price is $34.27 and its 200 day moving average price is $36.06. The firm has a market capitalization of $18.52 billion, a PE ratio of 6.26, a PEG ratio of 1.20 and a beta of 1.50.

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Devon Energy (NYSE:DVN - Get Free Report) last announced its quarterly earnings data on Tuesday, February 18th. The energy company reported $1.16 EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $4.25 billion. On average, research analysts anticipate that Devon Energy Co. will post 4.85 EPS for the current fiscal year.

Devon Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were given a $0.24 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.36%. This is an increase from Devon Energy's previous quarterly dividend of $0.22. Devon Energy's dividend payout ratio (DPR) is currently 21.05%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on DVN shares. Piper Sandler increased their target price on shares of Devon Energy from $54.00 to $55.00 and gave the stock an "overweight" rating in a research report on Monday, February 24th. UBS Group cut their price objective on Devon Energy from $41.00 to $35.00 and set a "neutral" rating for the company in a report on Monday, April 7th. StockNews.com upgraded Devon Energy from a "sell" rating to a "hold" rating in a research note on Friday, January 3rd. Cowen lowered Devon Energy to a "hold" rating and dropped their target price for the stock from $46.00 to $45.00 in a research report on Tuesday, February 18th. Finally, Citigroup reduced their price target on Devon Energy from $46.00 to $43.00 and set a "buy" rating for the company in a report on Friday, April 4th. Ten equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $46.71.

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.