Devon Energy Co. (NYSE:DVN) Shares Sold by Bernzott Capital Advisors

Bernzott Capital Advisors decreased its holdings in Devon Energy Co. (NYSE:DVN - Free Report) by 11.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 117,157 shares of the energy company's stock after selling 14,775 shares during the period. Bernzott Capital Advisors' holdings in Devon Energy were worth $3,835,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of DVN. EnCap Energy Capital Fund XI L.P. purchased a new position in Devon Energy in the 3rd quarter worth about $461,857,000. EnCap Partners GP LLC purchased a new position in shares of Devon Energy in the 3rd quarter worth approximately $408,653,000. EnCap Energy Capital Fund X L.P. purchased a new stake in Devon Energy in the third quarter valued at about $230,928,000. International Assets Investment Management LLC grew its position in Devon Energy by 4,125.7% during the 3rd quarter. International Assets Investment Management LLC now owns 2,280,961 shares of the energy company's stock worth $89,231,000 after purchasing an additional 2,226,983 shares during the last quarter. Finally, Pacer Advisors Inc. raised its stake in Devon Energy by 16.9% in the 3rd quarter. Pacer Advisors Inc. now owns 11,591,168 shares of the energy company's stock worth $453,446,000 after acquiring an additional 1,677,652 shares during the last quarter. 69.72% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Jefferies Financial Group assumed coverage on shares of Devon Energy in a research report on Thursday, October 3rd. They set a "hold" rating and a $45.00 target price for the company. Truist Financial decreased their price target on shares of Devon Energy from $43.00 to $42.00 and set a "hold" rating on the stock in a research note on Monday. Mizuho decreased their price target on shares of Devon Energy from $51.00 to $47.00 and set an "outperform" rating on the stock in a research note on Monday, December 16th. StockNews.com raised Devon Energy from a "sell" rating to a "hold" rating in a research note on Friday, January 3rd. Finally, JPMorgan Chase & Co. cut Devon Energy from an "overweight" rating to a "neutral" rating and set a $43.00 target price for the company. in a research note on Thursday, December 5th. Nine research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to data from MarketBeat, Devon Energy has an average rating of "Moderate Buy" and a consensus target price of $49.27.

Devon Energy Stock Down 1.2 %

Shares of DVN traded down $0.44 during midday trading on Friday, hitting $37.98. The company had a trading volume of 9,342,292 shares, compared to its average volume of 11,142,604. The stock has a market cap of $24.95 billion, a price-to-earnings ratio of 7.05, a PEG ratio of 1.14 and a beta of 2.00. The company's 50 day moving average price is $35.50 and its 200 day moving average price is $40.39. The company has a quick ratio of 1.01, a current ratio of 1.11 and a debt-to-equity ratio of 0.61. Devon Energy Co. has a 52 week low of $30.39 and a 52 week high of $55.09.

Devon Energy (NYSE:DVN - Get Free Report) last announced its quarterly earnings data on Tuesday, November 5th. The energy company reported $1.10 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.01. The firm had revenue of $4.02 billion during the quarter, compared to analyst estimates of $3.72 billion. Devon Energy had a return on equity of 24.73% and a net margin of 21.71%. Devon Energy's quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.65 earnings per share. On average, equities research analysts predict that Devon Energy Co. will post 4.72 EPS for the current year.

Devon Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Friday, December 13th were issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date was Friday, December 13th. Devon Energy's dividend payout ratio is presently 16.33%.

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.