D.A. Davidson & CO. Cuts Stock Holdings in Devon Energy Co. (NYSE:DVN)

D.A. Davidson & CO. reduced its stake in Devon Energy Co. (NYSE:DVN - Free Report) by 45.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 200,102 shares of the energy company's stock after selling 164,151 shares during the quarter. D.A. Davidson & CO.'s holdings in Devon Energy were worth $6,549,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Capital Performance Advisors LLP purchased a new position in shares of Devon Energy in the third quarter valued at approximately $35,000. Sierra Ocean LLC acquired a new stake in Devon Energy during the 4th quarter worth approximately $43,000. True Wealth Design LLC boosted its position in Devon Energy by 3,889.3% in 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 during the period. Hazlett Burt & Watson Inc. grew its stake in shares of Devon Energy by 29.8% in the third quarter. Hazlett Burt & Watson Inc. now owns 1,263 shares of the energy company's stock worth $49,000 after acquiring an additional 290 shares in the last quarter. Finally, Activest Wealth Management increased its position in shares of Devon Energy by 60.4% during the third 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. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Devon Energy Stock Performance

NYSE DVN traded down $1.09 during trading hours on Friday, hitting $37.46. The company had a trading volume of 6,225,711 shares, compared to its average volume of 9,626,323. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.01 and a current ratio of 1.04. Devon Energy Co. has a 1-year low of $30.39 and a 1-year high of $55.09. The company has a market cap of $24.61 billion, a PE ratio of 8.21, a price-to-earnings-growth ratio of 1.17 and a beta of 1.98. The business has a 50 day moving average of $34.40 and a 200-day moving average of $38.40.

Devon Energy (NYSE:DVN - Get Free Report) last issued its quarterly earnings results on Tuesday, February 18th. The energy company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.16. Devon Energy had a return on equity of 22.52% and a net margin of 18.14%. The firm had revenue of $4.40 billion for the quarter, compared to analysts' expectations of $4.25 billion. As a group, equities research analysts expect that Devon Energy Co. will post 4.85 EPS for the current year.

Devon Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, March 14th. This is an increase from Devon Energy's previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a dividend yield of 2.56%. Devon Energy's dividend payout ratio (DPR) is currently 21.05%.

Wall Street Analysts Forecast Growth

DVN has been the subject of a number of recent research reports. Royal Bank of Canada reiterated a "sector perform" rating and issued a $50.00 target price on shares of Devon Energy in a report on Friday, January 10th. Cowen downgraded Devon Energy to a "hold" rating and lowered their price objective for the stock from $46.00 to $45.00 in a research report on Tuesday. StockNews.com upgraded shares of Devon Energy from a "sell" rating to a "hold" rating in a research note on Friday, January 3rd. Wolfe Research upgraded shares of Devon Energy from a "peer perform" rating to an "outperform" rating and set a $45.00 price target for the company in a research note on Friday, January 3rd. Finally, Piper Sandler increased their price objective on shares of Devon Energy from $53.00 to $54.00 and gave the company an "overweight" rating in a research report on Wednesday, January 29th. Ten analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $48.83.

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.