Orion Portfolio Solutions LLC Sells 9,185 Shares of Devon Energy Co. (NYSE:DVN)

Orion Portfolio Solutions LLC trimmed its position in shares of Devon Energy Co. (NYSE:DVN - Free Report) by 13.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 57,202 shares of the energy company's stock after selling 9,185 shares during the period. Orion Portfolio Solutions LLC's holdings in Devon Energy were worth $1,872,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Cromwell Holdings LLC grew its stake in shares of Devon Energy by 98.0% during the fourth quarter. Cromwell Holdings LLC now owns 1,208 shares of the energy company's stock valued at $40,000 after buying an additional 598 shares during the last quarter. Sierra Ocean LLC bought a new position in Devon Energy during the 4th quarter worth approximately $43,000. Endeavor Private Wealth Inc. purchased a new position in Devon Energy in the 4th quarter worth approximately $52,000. Thompson Investment Management Inc. lifted its position in Devon Energy by 60.0% in the fourth quarter. Thompson Investment Management Inc. now owns 1,600 shares of the energy company's stock valued at $52,000 after purchasing an additional 600 shares during the last quarter. Finally, Asset Planning Inc purchased a new stake in shares of Devon Energy during the fourth quarter valued at approximately $54,000. Institutional investors own 69.72% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on DVN shares. Williams Trading set a $50.00 price target on shares of Devon Energy in a report on Wednesday, March 5th. Mizuho dropped their target price on shares of Devon Energy from $51.00 to $47.00 and set an "outperform" rating for the company in a report on Monday, December 16th. Royal Bank of Canada restated a "sector perform" rating and set a $50.00 price target on shares of Devon Energy in a report on Friday, January 10th. Sanford C. Bernstein upgraded Devon Energy from a "market perform" rating to an "outperform" rating and set a $45.00 price objective for the company in a report on Wednesday, January 15th. Finally, Truist Financial boosted their target price on Devon Energy from $42.00 to $44.00 and gave the company a "hold" rating in a research note on Thursday, February 20th. Ten investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $48.17.

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Devon Energy Stock Down 11.7 %

DVN stock traded down $3.87 on Friday, reaching $29.30. 23,066,739 shares of the company traded hands, compared to its average volume of 8,198,942. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 1.01. The firm has a fifty day simple moving average of $35.22 and a 200-day simple moving average of $36.67. Devon Energy Co. has a one year low of $29.06 and a one year high of $55.09. The company has a market cap of $19.01 billion, a P/E ratio of 6.42, a price-to-earnings-growth ratio of 1.20 and a beta of 1.50.

Devon Energy (NYSE:DVN - Get Free Report) last posted its quarterly earnings results on Tuesday, February 18th. The energy company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.16. Devon Energy had a return on equity of 22.52% and a net margin of 18.14%. The firm had revenue of $4.40 billion during the quarter, compared to analyst estimates of $4.25 billion. Research analysts anticipate that Devon Energy Co. will post 4.85 earnings per share for the current year.

Devon Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were issued a dividend of $0.24 per share. This is a boost from Devon Energy's previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.28%. Devon Energy's dividend payout ratio is presently 21.05%.

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.