Jaffetilchin Investment Partners LLC decreased its position in shares of Devon Energy Co. (NYSE:DVN - Free Report) by 52.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,452 shares of the energy company's stock after selling 19,622 shares during the period. Jaffetilchin Investment Partners LLC's holdings in Devon Energy were worth $683,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. William B. Walkup & Associates Inc. purchased a new stake in Devon Energy during the 2nd quarter valued at about $1,026,000. Gordian Capital Singapore Pte Ltd acquired a new position in shares of Devon Energy during the second quarter worth about $711,000. New York State Teachers Retirement System grew its position in shares of Devon Energy by 14.2% during the third quarter. New York State Teachers Retirement System now owns 704,831 shares of the energy company's stock worth $27,573,000 after buying an additional 87,462 shares in the last quarter. CWM LLC boosted its holdings in Devon Energy by 73.4% in the third quarter. CWM LLC now owns 38,969 shares of the energy company's stock valued at $1,524,000 after purchasing an additional 16,490 shares in the last quarter. Finally, J.W. Cole Advisors Inc. boosted its holdings in Devon Energy by 11.9% in the third quarter. J.W. Cole Advisors Inc. now owns 120,800 shares of the energy company's stock valued at $4,726,000 after purchasing an additional 12,882 shares in the last quarter. Hedge funds and other institutional investors own 69.72% of the company's stock.
Devon Energy Stock Performance
DVN traded down $0.62 during trading hours on Tuesday, hitting $38.34. 8,043,061 shares of the stock were exchanged, compared to its average volume of 7,441,273. The stock has a 50-day simple moving average of $40.36 and a 200-day simple moving average of $44.69. Devon Energy Co. has a 12 month low of $37.76 and a 12 month high of $55.09. The stock has a market cap of $25.19 billion, a price-to-earnings ratio of 7.23, a price-to-earnings-growth ratio of 1.21 and a beta of 2.03. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.11 and a quick ratio of 1.03.
Devon Energy (NYSE:DVN - Get Free Report) last issued its quarterly earnings results on Tuesday, November 5th. The energy company reported $1.10 EPS for the quarter, beating analysts' consensus estimates of $1.09 by $0.01. Devon Energy had a return on equity of 24.73% and a net margin of 21.71%. The company had revenue of $4.02 billion for the quarter, compared to analyst estimates of $3.72 billion. During the same period last year, the company earned $1.65 earnings per share. The company's quarterly revenue was up 4.9% compared to the same quarter last year. Analysts anticipate that Devon Energy Co. will post 4.89 earnings per share for the current year.
Devon Energy Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date is Friday, December 13th. Devon Energy's dividend payout ratio is currently 16.33%.
Analyst Upgrades and Downgrades
DVN has been the subject of a number of research analyst reports. Scotiabank dropped their price target on Devon Energy from $60.00 to $48.00 and set a "sector outperform" rating for the company in a research report on Thursday, October 10th. Susquehanna dropped their price objective on Devon Energy from $63.00 to $62.00 and set a "positive" rating on the stock in a report on Friday, October 18th. JPMorgan Chase & Co. dropped their price objective on Devon Energy from $64.00 to $51.00 and set an "overweight" rating on the stock in a report on Thursday, September 12th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $57.00 target price on shares of Devon Energy in a research report on Tuesday, September 3rd. Finally, Morgan Stanley reduced 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. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat.com, Devon Energy has a consensus rating of "Hold" and an average target price of $51.80.
Check Out Our Latest Analysis on Devon Energy
Devon Energy Company Profile
(
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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