J.W. Cole Advisors Inc. Sells 19,770 Shares of Devon Energy Co. (NYSE:DVN)

J.W. Cole Advisors Inc. decreased its holdings in shares of Devon Energy Co. (NYSE:DVN - Free Report) by 16.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 101,030 shares of the energy company's stock after selling 19,770 shares during the quarter. J.W. Cole Advisors Inc.'s holdings in Devon Energy were worth $3,307,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of DVN. Capital Performance Advisors LLP acquired a new stake in shares of Devon Energy in the third quarter valued at approximately $35,000. True Wealth Design LLC increased its stake in shares of Devon Energy by 3,889.3% in the third quarter. True Wealth Design LLC now owns 1,117 shares of the energy company's stock valued at $44,000 after purchasing an additional 1,089 shares during the period. Hazlett Burt & Watson Inc. increased its stake in shares of Devon Energy by 29.8% in the third quarter. Hazlett Burt & Watson Inc. now owns 1,263 shares of the energy company's stock valued at $49,000 after purchasing an additional 290 shares during the period. Activest Wealth Management increased its stake in shares of Devon Energy by 60.4% in the third quarter. Activest Wealth Management now owns 1,275 shares of the energy company's stock valued at $50,000 after purchasing an additional 480 shares during the period. Finally, Endeavor Private Wealth Inc. acquired a new stake in shares of Devon Energy in the fourth quarter valued at approximately $52,000. Institutional investors and hedge funds own 69.72% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Truist Financial raised their price target on shares of Devon Energy from $42.00 to $44.00 and gave the company a "hold" rating in a research note on Thursday. Benchmark reiterated a "buy" rating and set a $44.00 price objective on shares of Devon Energy in a research note on Thursday. Royal Bank of Canada reiterated a "sector perform" rating and set a $50.00 price objective on shares of Devon Energy in a research note on Friday, January 10th. Piper Sandler raised their price objective on shares of Devon Energy from $53.00 to $54.00 and gave the company an "overweight" rating in a research note on Wednesday, January 29th. Finally, Wolfe Research upgraded shares of Devon Energy from a "peer perform" rating to an "outperform" rating and set a $45.00 price objective on the stock in a research note on Friday, January 3rd. Ten equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to data from MarketBeat, Devon Energy presently has a consensus rating of "Moderate Buy" and an average target price of $48.83.

Devon Energy Trading Up 2.7 %

Devon Energy stock traded up $1.03 during midday trading on Thursday, reaching $38.60. The stock had a trading volume of 11,377,043 shares, compared to its average volume of 9,743,851. The firm's fifty day simple moving average is $34.31 and its two-hundred day simple moving average is $38.40. The firm has a market cap of $25.35 billion, a price-to-earnings ratio of 8.46, a PEG ratio of 1.09 and a beta of 1.98. Devon Energy Co. has a twelve month low of $30.39 and a twelve month high of $55.09. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.11 and a quick ratio of 1.01.

Devon Energy (NYSE:DVN - Get Free Report) last issued its earnings results on Tuesday, February 18th. The energy company reported $1.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.00 by $0.16. The company had revenue of $4.40 billion during the quarter, compared to analyst estimates of $4.25 billion. Devon Energy had a net margin of 18.14% and a return on equity of 23.17%. Equities analysts anticipate that Devon Energy Co. will post 4.85 EPS for the current fiscal year.

Devon Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.49%. This is a positive change from Devon Energy's previous quarterly dividend of $0.22. Devon Energy's dividend payout ratio (DPR) is 19.30%.

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.