Jaffetilchin Investment Partners LLC decreased its holdings in shares of Devon Energy Co. (NYSE:DVN - Free Report) by 64.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,179 shares of the energy company's stock after selling 11,273 shares during the quarter. Jaffetilchin Investment Partners LLC's holdings in Devon Energy were worth $202,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently made changes to their positions in DVN. Hurley Capital LLC bought a new stake in Devon Energy during the 4th quarter worth approximately $26,000. Cromwell Holdings LLC lifted its holdings in shares of Devon Energy by 98.0% during the fourth quarter. Cromwell Holdings LLC now owns 1,208 shares of the energy company's stock worth $40,000 after purchasing an additional 598 shares during the period. Sierra Ocean LLC bought a new stake in shares of Devon Energy in the fourth quarter worth $43,000. Endeavor Private Wealth Inc. acquired a new stake in Devon Energy in the fourth quarter valued at $52,000. Finally, Thompson Investment Management Inc. raised its position in Devon Energy by 60.0% during the 4th quarter. Thompson Investment Management Inc. now owns 1,600 shares of the energy company's stock worth $52,000 after purchasing an additional 600 shares during the last quarter. Institutional investors own 69.72% of the company's stock.
Devon Energy Stock Down 0.8 %
Shares of DVN traded down $0.23 on Tuesday, reaching $28.51. The company's stock had a trading volume of 12,106,461 shares, compared to its average volume of 8,412,600. The stock has a market capitalization of $18.50 billion, a PE ratio of 6.25, a PEG ratio of 1.20 and a beta of 1.50. The company has a current ratio of 1.04, a quick ratio of 1.01 and a debt-to-equity ratio of 0.57. Devon Energy Co. has a twelve month low of $25.89 and a twelve month high of $53.20. The firm has a fifty day moving average of $34.17 and a 200-day moving average of $36.00.
Devon Energy (NYSE:DVN - Get Free Report) last posted its earnings results on Tuesday, February 18th. The energy company reported $1.16 earnings per share for the quarter, beating analysts' consensus estimates of $1.00 by $0.16. Devon Energy had a return on equity of 22.52% and a net margin of 18.14%. The company had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.25 billion. Equities analysts predict that Devon Energy Co. will post 4.85 EPS for the current year.
Devon Energy Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 3.37%. This is an increase from Devon Energy's previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Friday, March 14th. Devon Energy's payout ratio is currently 21.05%.
Wall Street Analysts Forecast Growth
DVN has been the subject of several recent research reports. Royal Bank of Canada decreased their price target on Devon Energy from $49.00 to $40.00 and set a "sector perform" rating for the company in a research note on Monday. StockNews.com upgraded shares of Devon Energy from a "sell" rating to a "hold" rating in a report on Friday, January 3rd. Mizuho dropped their price target on shares of Devon Energy from $49.00 to $46.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 9th. Barclays increased their price objective on shares of Devon Energy from $43.00 to $44.00 and gave the stock an "equal weight" rating in a research report on Thursday, February 20th. Finally, Citigroup dropped their target price on shares of Devon Energy from $46.00 to $43.00 and set a "buy" rating on the stock in a report on Friday, April 4th. Ten equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, Devon Energy currently has a consensus rating of "Moderate Buy" and a consensus target price of $46.71.
View Our Latest Report on DVN
About Devon Energy
(
Free Report)
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.
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