Wellington Shields Capital Management LLC Has $46,000 Stake in Devon Energy Co. (NYSE:DVN)

Wellington Shields Capital Management LLC trimmed its position in shares of Devon Energy Co. (NYSE:DVN - Free Report) by 89.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,400 shares of the energy company's stock after selling 11,500 shares during the quarter. Wellington Shields Capital Management LLC's holdings in Devon Energy were worth $46,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in DVN. Blume Capital Management Inc. grew its stake in shares of Devon Energy by 51.5% during the fourth quarter. Blume Capital Management Inc. now owns 3,385 shares of the energy company's stock valued at $111,000 after purchasing an additional 1,150 shares during the last quarter. Commonwealth Equity Services LLC grew its stake in shares of Devon Energy by 23.1% during the fourth quarter. Commonwealth Equity Services LLC now owns 403,505 shares of the energy company's stock valued at $13,207,000 after purchasing an additional 75,851 shares during the last quarter. Avantax Advisory Services Inc. grew its stake in shares of Devon Energy by 13.0% during the fourth quarter. Avantax Advisory Services Inc. now owns 75,848 shares of the energy company's stock valued at $2,482,000 after purchasing an additional 8,733 shares during the last quarter. Securian Asset Management Inc. grew its stake in shares of Devon Energy by 1.9% during the fourth quarter. Securian Asset Management Inc. now owns 35,305 shares of the energy company's stock valued at $1,156,000 after purchasing an additional 672 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Devon Energy by 4.2% during the fourth quarter. EverSource Wealth Advisors LLC now owns 17,954 shares of the energy company's stock valued at $588,000 after purchasing an additional 721 shares during the last quarter. 69.72% of the stock is owned by institutional investors.

Remove Ads

Devon Energy Stock Performance

Shares of DVN stock traded up $0.71 during midday trading on Wednesday, hitting $36.08. 10,654,857 shares of the company were exchanged, compared to its average volume of 7,829,489. The firm has a market capitalization of $23.41 billion, a P/E ratio of 7.91, a PEG ratio of 1.20 and a beta of 1.91. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.01 and a current ratio of 1.04. The firm's 50 day moving average price is $35.42 and its two-hundred day moving average price is $37.14. Devon Energy Co. has a 52 week low of $30.39 and a 52 week high of $55.09.

Devon Energy (NYSE:DVN - Get Free Report) last announced its earnings results on Tuesday, February 18th. The energy company reported $1.16 EPS for the quarter, topping 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 business had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.25 billion. As a group, equities research analysts anticipate that Devon Energy Co. will post 4.85 earnings per share for the current year.

Devon Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a $0.24 dividend. This is a boost from Devon Energy's previous quarterly dividend of $0.22. The ex-dividend date is Friday, March 14th. This represents a $0.96 annualized dividend and a yield of 2.66%. Devon Energy's payout ratio is 21.05%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Cowen cut shares of Devon Energy to a "hold" rating and reduced their price objective for the company from $46.00 to $45.00 in a research note on Tuesday, February 18th. StockNews.com raised shares of Devon Energy from a "sell" rating to a "hold" rating in a research note on Friday, January 3rd. Citigroup cut their target price on shares of Devon Energy from $48.00 to $46.00 and set a "buy" rating on the stock in a report on Monday. Barclays raised their price objective on shares of Devon Energy from $43.00 to $44.00 and gave the stock an "equal weight" rating in a report on Thursday, February 20th. Finally, Mizuho decreased their target price 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. Ten investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $48.46.

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.