Janney Montgomery Scott LLC Has $10.47 Million Stake in Devon Energy Co. (NYSE:DVN)

Janney Montgomery Scott LLC trimmed its stake in Devon Energy Co. (NYSE:DVN - Free Report) by 10.2% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 267,710 shares of the energy company's stock after selling 30,363 shares during the period. Janney Montgomery Scott LLC's holdings in Devon Energy were worth $10,473,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Triad Wealth Partners LLC purchased a new stake in Devon Energy in the 2nd quarter valued at about $27,000. 1620 Investment Advisors Inc. bought a new stake in Devon Energy during the 2nd quarter valued at approximately $34,000. PSI Advisors LLC boosted its holdings in Devon Energy by 66.7% during the second quarter. PSI Advisors LLC now owns 750 shares of the energy company's stock valued at $36,000 after purchasing an additional 300 shares in the last quarter. LRI Investments LLC bought a new position in Devon Energy in the 1st quarter worth approximately $39,000. Finally, Future Financial Wealth Managment LLC acquired a new position in shares of Devon Energy during the 3rd quarter worth about $39,000. 69.72% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Wolfe Research started coverage on Devon Energy in a research report on Thursday, July 18th. They issued a "peer perform" rating on the stock. Mizuho dropped their price objective on shares of Devon Energy from $53.00 to $51.00 and set an "outperform" rating for the company in a report on Wednesday, October 9th. Barclays lowered their price target on shares of Devon Energy from $55.00 to $46.00 and set an "equal weight" rating for the company in a research report on Thursday, October 3rd. Truist Financial cut Devon Energy from a "buy" rating to a "hold" rating and cut their price target for the company from $49.00 to $43.00 in a report on Thursday. Finally, Royal Bank of Canada restated a "sector perform" rating and issued a $57.00 target price on shares of Devon Energy in a research note on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $51.80.

Devon Energy Stock Performance

DVN stock traded down $0.08 during trading on Friday, hitting $38.81. The company had a trading volume of 4,242,947 shares, compared to its average volume of 7,413,774. The company has a quick ratio of 1.03, a current ratio of 1.11 and a debt-to-equity ratio of 0.45. The firm has a market cap of $24.30 billion, a PE ratio of 7.06, a price-to-earnings-growth ratio of 1.20 and a beta of 2.03. The firm has a 50-day moving average price of $40.60 and a 200-day moving average price of $44.99. Devon Energy Co. has a 1-year low of $37.76 and a 1-year high of $55.09.

Devon Energy (NYSE:DVN - Get Free Report) last posted its quarterly earnings data 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 net margin of 22.60% and a return on equity of 29.14%. The firm had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $3.72 billion. During the same period in the prior year, the firm posted $1.65 EPS. The firm's revenue was up 4.9% compared to the same quarter last year. On average, analysts expect that Devon Energy Co. will post 4.93 earnings per share for the current year.

Devon Energy Announces Dividend

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 2.27%. The ex-dividend date of this dividend is Friday, December 13th. Devon Energy's dividend payout ratio is currently 15.97%.

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.