Teamwork Financial Advisors LLC Decreases Stake in Devon Energy Co. (NYSE:DVN)

Teamwork Financial Advisors LLC trimmed its stake in Devon Energy Co. (NYSE:DVN - Free Report) by 64.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,233 shares of the energy company's stock after selling 23,954 shares during the period. Teamwork Financial Advisors LLC's holdings in Devon Energy were worth $518,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Salem Investment Counselors Inc. increased its position in shares of Devon Energy by 31.4% during the first quarter. Salem Investment Counselors Inc. now owns 832 shares of the energy company's stock worth $42,000 after buying an additional 199 shares during the period. Retirement Group LLC raised its position in shares of Devon Energy by 21.8% in the 1st quarter. Retirement Group LLC now owns 1,110 shares of the energy company's stock worth $56,000 after acquiring an additional 199 shares in the last quarter. Whittier Trust Co. of Nevada Inc. raised its position in shares of Devon Energy by 7.4% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 3,046 shares of the energy company's stock worth $153,000 after acquiring an additional 209 shares in the last quarter. MCF Advisors LLC lifted its stake in shares of Devon Energy by 5.6% in the 1st quarter. MCF Advisors LLC now owns 4,023 shares of the energy company's stock valued at $202,000 after purchasing an additional 215 shares during the period. Finally, Annex Advisory Services LLC boosted its position in shares of Devon Energy by 0.8% during the 2nd quarter. Annex Advisory Services LLC now owns 27,651 shares of the energy company's stock valued at $1,311,000 after purchasing an additional 223 shares in the last quarter. 69.72% of the stock is owned by institutional investors.

Devon Energy Stock Performance

Shares of DVN traded up $0.08 on Friday, reaching $40.66. 6,939,990 shares of the company's stock traded hands, compared to its average volume of 7,354,939. The stock's 50 day simple moving average is $42.15 and its two-hundred day simple moving average is $46.32. The company has a current ratio of 1.11, a quick ratio of 1.03 and a debt-to-equity ratio of 0.45. Devon Energy Co. has a 52-week low of $37.76 and a 52-week high of $55.09. The stock has a market cap of $25.70 billion, a PE ratio of 7.76, a PEG ratio of 1.27 and a beta of 2.02.

Devon Energy (NYSE:DVN - Get Free Report) last released its earnings results on Tuesday, August 6th. The energy company reported $1.41 EPS for the quarter, topping analysts' consensus estimates of $1.26 by $0.15. Devon Energy had a return on equity of 29.14% and a net margin of 22.60%. The company had revenue of $3.92 billion for the quarter, compared to analysts' expectations of $3.90 billion. During the same period in the previous year, the business posted $1.18 EPS. The business's revenue for the quarter was up 13.4% compared to the same quarter last year. On average, analysts forecast that Devon Energy Co. will post 5.01 earnings per share for the current fiscal year.

Devon Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were paid a dividend of $0.22 per share. The ex-dividend date was Friday, September 13th. This represents a $0.88 annualized dividend and a dividend yield of 2.16%. Devon Energy's payout ratio is currently 16.79%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on DVN shares. Scotiabank dropped their price target on Devon Energy from $60.00 to $48.00 and set a "sector outperform" rating on the stock in a research note on Thursday, October 10th. Mizuho cut their target price on shares of Devon Energy from $53.00 to $51.00 and set an "outperform" rating on the stock in a research note on Wednesday, October 9th. StockNews.com downgraded shares of Devon Energy from a "buy" rating to a "hold" rating in a research note on Monday, September 2nd. Wells Fargo & Company reissued a "sector outperform" rating on shares of Devon Energy in a research report on Friday. Finally, BMO Capital Markets reduced their target price on Devon Energy from $52.00 to $48.00 and set an "outperform" rating for the company in a research note on Friday, October 4th. Nine research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat, Devon Energy currently has a consensus rating of "Moderate Buy" and an average price target of $52.53.

Devon Energy 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.