Forte Capital LLC ADV Has $848,000 Stock Holdings in Devon Energy Co. (NYSE:DVN)

Forte Capital LLC ADV lowered its stake in Devon Energy Co. (NYSE:DVN - Free Report) by 39.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 25,914 shares of the energy company's stock after selling 16,785 shares during the period. Forte Capital LLC ADV's holdings in Devon Energy were worth $848,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. EnCap Energy Capital Fund XI L.P. acquired a new position in shares of Devon Energy in the 3rd quarter valued at about $461,857,000. EnCap Partners GP LLC acquired a new position in shares of Devon Energy in the 3rd quarter valued at about $408,653,000. EnCap Energy Capital Fund X L.P. acquired a new position in shares of Devon Energy in the 3rd quarter valued at about $230,928,000. International Assets Investment Management LLC boosted its holdings in shares of Devon Energy by 4,125.7% in the 3rd quarter. International Assets Investment Management LLC now owns 2,280,961 shares of the energy company's stock valued at $89,231,000 after buying an additional 2,226,983 shares during the period. Finally, Pacer Advisors Inc. boosted its stake in Devon Energy by 16.9% during the 3rd quarter. Pacer Advisors Inc. now owns 11,591,168 shares of the energy company's stock valued at $453,446,000 after purchasing an additional 1,677,652 shares during the period. Institutional investors own 69.72% of the company's stock.

Devon Energy Trading Down 2.8 %

Shares of DVN stock traded down $1.07 during trading hours on Friday, reaching $37.49. 11,529,242 shares of the stock traded hands, compared to its average volume of 9,796,612. Devon Energy Co. has a 1-year low of $30.39 and a 1-year high of $55.09. The business has a fifty day moving average price of $34.47 and a 200 day moving average price of $38.37. The company has a quick ratio of 1.01, a current ratio of 1.04 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $24.62 billion, a PE ratio of 8.22, a PEG ratio of 1.17 and a beta of 1.98.

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. The firm had revenue of $4.40 billion for the quarter, compared to the consensus estimate of $4.25 billion. Devon Energy had a net margin of 18.14% and a return on equity of 22.52%. On average, equities research analysts forecast that Devon Energy Co. will post 4.85 EPS for the current year.

Devon Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.56%. This is an increase from Devon Energy's previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Friday, March 14th. Devon Energy's payout ratio is currently 21.05%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. JPMorgan Chase & Co. lowered shares of 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. Raymond James boosted their target price on shares of Devon Energy from $53.00 to $54.00 and gave the company an "outperform" rating in a research note on Thursday, January 23rd. Citigroup reduced their target price on shares of Devon Energy from $55.00 to $48.00 and set a "buy" rating for the company in a research note on Tuesday, November 26th. Royal Bank of Canada reissued a "sector perform" rating and set a $50.00 target price on shares of Devon Energy in a research note on Friday, January 10th. Finally, Truist Financial upped their price target on shares of Devon Energy from $42.00 to $44.00 and gave the stock a "hold" rating in a research note on Thursday. Ten equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, Devon Energy has an average rating of "Moderate Buy" and a consensus price target of $48.83.

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.