Stifel Financial Corp Reduces Holdings in Devon Energy Co. (NYSE:DVN)

Stifel Financial Corp decreased its position in Devon Energy Co. (NYSE:DVN - Free Report) by 7.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 915,906 shares of the energy company's stock after selling 76,370 shares during the period. Stifel Financial Corp owned approximately 0.14% of Devon Energy worth $29,978,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of DVN. Hurley Capital LLC acquired a new stake in shares of Devon Energy in the 4th quarter valued at about $26,000. Cromwell Holdings LLC increased its holdings 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 acquiring an additional 598 shares in the last quarter. Sierra Ocean LLC bought a new position in shares of Devon Energy in the 4th quarter worth $43,000. Endeavor Private Wealth Inc. acquired a new stake in Devon Energy in the 4th quarter valued at $52,000. Finally, Thompson Investment Management Inc. raised its holdings in Devon Energy by 60.0% during the fourth quarter. Thompson Investment Management Inc. now owns 1,600 shares of the energy company's stock worth $52,000 after buying an additional 600 shares during the last quarter. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Devon Energy Price Performance

Shares of NYSE DVN traded down $0.10 during midday trading on Friday, hitting $31.37. 5,180,719 shares of the company's stock were exchanged, compared to its average volume of 8,524,603. The business's fifty day moving average price is $33.56 and its two-hundred day moving average price is $35.41. The company has a market cap of $20.36 billion, a price-to-earnings ratio of 6.88, a PEG ratio of 1.20 and a beta of 1.50. 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 12-month low of $25.89 and a 12-month high of $53.20.

Devon Energy (NYSE:DVN - Get Free Report) last posted its quarterly earnings data on Tuesday, February 18th. The energy company reported $1.16 earnings per share 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 analysts' expectations of $4.25 billion. As a group, research analysts forecast that Devon Energy Co. will post 4.85 EPS for the current fiscal year.

Devon Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were given a dividend of $0.24 per share. The ex-dividend date was Friday, March 14th. This is a positive change from Devon Energy's previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a dividend yield of 3.06%. Devon Energy's dividend payout ratio is 21.05%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on DVN shares. Citigroup lowered their target price on shares of Devon Energy from $46.00 to $43.00 and set a "buy" rating on the stock in a report on Friday, April 4th. Wolfe Research raised Devon Energy from a "peer perform" rating to an "outperform" rating and set a $45.00 target price on the stock in a research report on Friday, January 3rd. Susquehanna dropped their price objective on Devon Energy from $52.00 to $41.00 and set a "positive" rating on the stock in a research note on Tuesday, April 22nd. Cowen downgraded shares of Devon Energy to a "hold" rating and lowered their target price for the company from $46.00 to $45.00 in a report on Tuesday, February 18th. Finally, Royal Bank of Canada cut their price target on shares of Devon Energy from $49.00 to $40.00 and set a "sector perform" rating on the stock in a report on Monday, April 14th. Ten research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $44.83.

About Devon Energy

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.