Martin Capital Partners LLC Sells 29,833 Shares of Devon Energy Co. (NYSE:DVN)

Martin Capital Partners LLC decreased its stake in shares of Devon Energy Co. (NYSE:DVN - Free Report) by 62.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,625 shares of the energy company's stock after selling 29,833 shares during the period. Martin Capital Partners LLC's holdings in Devon Energy were worth $577,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in DVN. EnCap Energy Capital Fund XI L.P. acquired a new position in shares of Devon Energy in the third quarter worth about $461,857,000. EnCap Partners GP LLC purchased a new stake in shares of Devon Energy in the 3rd quarter valued at approximately $408,653,000. EnCap Energy Capital Fund X L.P. acquired a new position in Devon Energy in the 3rd quarter worth approximately $230,928,000. International Assets Investment Management LLC boosted its stake in Devon Energy by 4,125.7% in the 3rd quarter. International Assets Investment Management LLC now owns 2,280,961 shares of the energy company's stock worth $89,231,000 after purchasing an additional 2,226,983 shares during the period. Finally, Pacer Advisors Inc. grew its position in Devon Energy by 16.9% during the 3rd quarter. Pacer Advisors Inc. now owns 11,591,168 shares of the energy company's stock worth $453,446,000 after purchasing an additional 1,677,652 shares in the last quarter. 69.72% of the stock is currently owned by institutional investors.

Devon Energy Stock Performance

Devon Energy stock traded down $0.29 during trading hours on Wednesday, reaching $34.14. 7,591,442 shares of the company were exchanged, compared to its average volume of 9,578,988. Devon Energy Co. has a 12 month low of $30.39 and a 12 month high of $55.09. The firm has a market cap of $22.42 billion, a price-to-earnings ratio of 6.33, a PEG ratio of 1.07 and a beta of 1.98. The company has a current ratio of 1.11, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. The stock has a 50-day moving average of $34.73 and a 200 day moving average of $39.22.

Devon Energy (NYSE:DVN - Get Free Report) last posted its quarterly earnings data on Tuesday, November 5th. The energy company reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $0.01. The business had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $3.72 billion. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%. Devon Energy's quarterly revenue was up 4.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.65 EPS. As a group, research analysts anticipate that Devon Energy Co. will post 4.68 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have recently commented on the company. Raymond James raised their target price on Devon Energy from $53.00 to $54.00 and gave the stock an "outperform" rating in a research report on Thursday, January 23rd. Royal Bank of Canada restated a "sector perform" rating and set a $50.00 price objective on shares of Devon Energy in a research report on Friday, January 10th. Citigroup dropped their target price on Devon Energy from $55.00 to $48.00 and set a "buy" rating on the stock in a report on Tuesday, November 26th. Mizuho reduced their price target on shares of Devon Energy from $51.00 to $47.00 and set an "outperform" rating for the company in a research report on Monday, December 16th. Finally, Truist Financial lowered their price objective on shares of Devon Energy from $43.00 to $42.00 and set a "hold" rating on the stock in a research report on Monday, January 13th. Nine research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $49.45.

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.