Dynamic Advisor Solutions LLC Has $401,000 Stock Position in Devon Energy Co. (NYSE:DVN)

Dynamic Advisor Solutions LLC lowered its stake in Devon Energy Co. (NYSE:DVN - Free Report) by 41.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 12,255 shares of the energy company's stock after selling 8,627 shares during the period. Dynamic Advisor Solutions LLC's holdings in Devon Energy were worth $401,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of DVN. Marshall Wace LLP raised its position in shares of Devon Energy by 368.6% during the 2nd quarter. Marshall Wace LLP now owns 202,740 shares of the energy company's stock valued at $9,610,000 after acquiring an additional 159,473 shares in the last quarter. AXA S.A. grew its position in shares of Devon Energy by 61.9% during the second quarter. AXA S.A. now owns 105,201 shares of the energy company's stock worth $4,987,000 after acquiring an additional 40,232 shares during the last quarter. AQR Capital Management LLC grew its position in Devon Energy by 227.4% in the 2nd quarter. AQR Capital Management LLC now owns 746,040 shares of the energy company's stock worth $35,258,000 after purchasing an additional 518,189 shares during the last quarter. Algert Global LLC boosted its position in Devon Energy by 17.8% during the 2nd quarter. Algert Global LLC now owns 9,719 shares of the energy company's stock worth $461,000 after acquiring an additional 1,466 shares during the period. Finally, Magnolia Capital Advisors LLC increased its stake in Devon Energy by 204.8% during the 2nd quarter. Magnolia Capital Advisors LLC now owns 71,058 shares of the energy company's stock valued at $3,368,000 after buying an additional 47,742 shares during the period. Institutional investors and hedge funds own 69.72% of the company's stock.

Analyst Upgrades and Downgrades

DVN has been the topic of several research analyst reports. Scotiabank lowered their price target on Devon Energy from $60.00 to $48.00 and set a "sector outperform" rating on the stock in a research report on Thursday, October 10th. Raymond James boosted their target price on shares of Devon Energy from $53.00 to $54.00 and gave the stock an "outperform" rating in a report on Thursday, January 23rd. BMO Capital Markets decreased their price target on shares of Devon Energy from $52.00 to $48.00 and set an "outperform" rating on the stock in a research report on Friday, October 4th. Jefferies Financial Group assumed coverage on Devon Energy in a research report on Thursday, October 3rd. They set a "hold" rating and a $45.00 price objective for the company. Finally, Wolfe Research raised Devon Energy from a "peer perform" rating to an "outperform" rating and set a $45.00 target price on the stock in a research report on Friday, January 3rd. Nine analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $49.41.

Devon Energy Price Performance

Shares of NYSE:DVN traded down $0.67 during midday trading on Tuesday, reaching $34.67. 3,597,064 shares of the company's stock were exchanged, compared to its average volume of 10,038,236. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.11. The company's 50 day simple moving average is $35.20 and its two-hundred day simple moving average is $39.78. Devon Energy Co. has a 12 month low of $30.39 and a 12 month high of $55.09. The firm has a market capitalization of $22.77 billion, a PE ratio of 6.43, a price-to-earnings-growth ratio of 1.21 and a beta of 2.00.

Devon Energy (NYSE:DVN - Get Free Report) last announced its quarterly earnings results on Tuesday, November 5th. The energy company reported $1.10 EPS for the quarter, topping analysts' consensus estimates of $1.09 by $0.01. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%. The firm had revenue of $4.02 billion during the quarter, compared to analysts' expectations of $3.72 billion. During the same quarter last year, the company earned $1.65 earnings per share. The company's revenue for the quarter was up 4.9% compared to the same quarter last year. Equities research analysts expect that Devon Energy Co. will post 4.7 earnings per share for the current fiscal year.

Devon Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Friday, December 13th were paid a dividend of $0.22 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.88 annualized dividend and a yield of 2.54%. Devon Energy's dividend payout ratio is currently 16.33%.

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.