GSA Capital Partners LLP Reduces Stock Position in Devon Energy Co. (NYSE:DVN)

GSA Capital Partners LLP trimmed its holdings in shares of Devon Energy Co. (NYSE:DVN - Free Report) by 74.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,740 shares of the energy company's stock after selling 103,703 shares during the period. GSA Capital Partners LLP's holdings in Devon Energy were worth $1,359,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in DVN. Triad Wealth Partners LLC bought a new stake in shares of Devon Energy during the second quarter valued at about $27,000. 1620 Investment Advisors Inc. bought a new stake in shares of Devon Energy during the second quarter valued at about $34,000. Capital Performance Advisors LLP purchased a new position in shares of Devon Energy during the third quarter worth about $35,000. PSI Advisors LLC grew its holdings in shares of Devon Energy by 66.7% during the second quarter. PSI Advisors LLC now owns 750 shares of the energy company's stock worth $36,000 after purchasing an additional 300 shares in the last quarter. Finally, LRI Investments LLC purchased a new stake in Devon Energy in the first quarter worth approximately $39,000. 69.72% of the stock is currently owned by institutional investors.

Devon Energy Price Performance

NYSE DVN traded down $0.11 during trading on Thursday, hitting $39.00. 2,144,169 shares of the stock traded hands, compared to its average volume of 7,421,334. The company has a market capitalization of $25.62 billion, a P/E ratio of 7.28, a price-to-earnings-growth ratio of 1.19 and a beta of 2.03. The firm has a 50-day simple moving average of $40.20 and a 200-day simple moving average of $44.55. 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 12-month low of $37.76 and a 12-month high of $55.09.

Devon Energy (NYSE:DVN - Get Free Report) last released its quarterly earnings results 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 business had revenue of $4.02 billion during the quarter, compared to analysts' expectations of $3.72 billion. Devon Energy had a return on equity of 24.73% and a net margin of 21.71%. The firm's revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.65 EPS. As a group, analysts predict that Devon Energy Co. will post 4.86 EPS for the current year.

Devon Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date is Friday, December 13th. Devon Energy's dividend payout ratio (DPR) is 16.33%.

Analysts Set New Price Targets

Several analysts have weighed in on DVN shares. Jefferies Financial Group started coverage on Devon Energy in a research report on Thursday, October 3rd. They issued a "hold" rating and a $45.00 price objective for the company. Morgan Stanley lowered their price objective on Devon Energy from $55.00 to $51.00 and set an "overweight" rating for the company in a research report on Monday, September 16th. Susquehanna lowered their price objective on Devon Energy from $63.00 to $62.00 and set a "positive" rating for the company in a research report on Friday, October 18th. Barclays decreased their target price on Devon Energy from $55.00 to $46.00 and set an "equal weight" rating for the company in a report on Thursday, October 3rd. Finally, TD Cowen decreased their target price on Devon Energy from $54.00 to $46.00 and set a "hold" rating for the company in a report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $51.80.

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.