Sanctuary Advisors LLC Sells 60,569 Shares of Devon Energy Co. (NYSE:DVN)

Sanctuary Advisors LLC trimmed its holdings in shares of Devon Energy Co. (NYSE:DVN - Free Report) by 16.0% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 317,772 shares of the energy company's stock after selling 60,569 shares during the period. Sanctuary Advisors LLC's holdings in Devon Energy were worth $11,138,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Principal Financial Group Inc. lifted its holdings in Devon Energy by 2.0% during the 4th quarter. Principal Financial Group Inc. now owns 746,374 shares of the energy company's stock valued at $24,429,000 after purchasing an additional 14,396 shares during the last quarter. Philip James Wealth Mangement LLC lifted its holdings in Devon Energy by 56.1% during the 4th quarter. Philip James Wealth Mangement LLC now owns 28,619 shares of the energy company's stock valued at $937,000 after purchasing an additional 10,291 shares during the last quarter. Sierra Ocean LLC bought a new position in Devon Energy during the 4th quarter valued at about $43,000. Valmark Advisers Inc. lifted its holdings in Devon Energy by 96.3% during the 4th quarter. Valmark Advisers Inc. now owns 10,553 shares of the energy company's stock valued at $345,000 after purchasing an additional 5,177 shares during the last quarter. Finally, MOKAN Wealth Management Inc. bought a new position in Devon Energy during the 4th quarter valued at about $1,098,000. 69.72% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on DVN. Piper Sandler lifted their price target on shares of Devon Energy from $53.00 to $54.00 and gave the company an "overweight" rating in a report on Wednesday, January 29th. Truist Financial boosted their target price on shares of Devon Energy from $42.00 to $44.00 and gave the stock a "hold" rating in a research note on Thursday. Benchmark reaffirmed a "buy" rating and issued a $44.00 target price on shares of Devon Energy in a research note on Thursday. Sanford C. Bernstein raised shares of Devon Energy from a "market perform" rating to an "outperform" rating and set a $45.00 target price for the company in a research note on Wednesday, January 15th. Finally, Raymond James boosted their target price on shares of Devon Energy from $53.00 to $54.00 and gave the stock an "outperform" rating in a research note on Thursday, January 23rd. Ten research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $48.83.

Devon Energy Price Performance

DVN stock traded down $1.07 during mid-day trading on Friday, hitting $37.49. The stock had a trading volume of 11,529,242 shares, compared to its average volume of 9,796,612. The company has a current ratio of 1.04, a quick ratio of 1.01 and a debt-to-equity ratio of 0.57. Devon Energy Co. has a 52 week low of $30.39 and a 52 week high of $55.09. The firm has a market capitalization of $24.62 billion, a P/E ratio of 8.22, a P/E/G ratio of 1.17 and a beta of 1.98. The firm has a fifty day simple moving average of $34.40 and a 200 day simple moving average of $38.40.

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

Devon Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 2.56%. This is a boost from Devon Energy's previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Friday, March 14th. Devon Energy's dividend payout ratio is currently 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.