Devon Energy Corporation (DVN) Stake Lowered by Advisor Group Inc.

Advisor Group Inc. reduced its holdings in Devon Energy Corporation (NYSE:DVN) by 14.9% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 23,332 shares of the energy company’s stock after selling 4,081 shares during the quarter. Advisor Group Inc.’s holdings in Devon Energy were worth $859,000 as of its most recent filing with the SEC.

Several other institutional investors have also bought and sold shares of the company. Point View Wealth Management Inc. lifted its position in shares of Devon Energy by 1.2% in the 2nd quarter. Point View Wealth Management Inc. now owns 8,334 shares of the energy company’s stock worth $266,000 after buying an additional 95 shares during the last quarter. Honkamp Krueger Financial Services Inc. increased its holdings in shares of Devon Energy by 1.4% in the 2nd quarter. Honkamp Krueger Financial Services Inc. now owns 7,048 shares of the energy company’s stock worth $225,000 after acquiring an additional 96 shares during the period. Wedbush Securities Inc. increased its holdings in shares of Devon Energy by 1.1% in the 2nd quarter. Wedbush Securities Inc. now owns 9,286 shares of the energy company’s stock worth $297,000 after acquiring an additional 99 shares during the period. Kanawha Capital Management LLC increased its holdings in shares of Devon Energy by 0.3% in the 2nd quarter. Kanawha Capital Management LLC now owns 41,726 shares of the energy company’s stock worth $1,334,000 after acquiring an additional 130 shares during the period. Finally, Pillar Pacific Capital Management LLC increased its holdings in shares of Devon Energy by 0.7% in the 2nd quarter. Pillar Pacific Capital Management LLC now owns 29,810 shares of the energy company’s stock worth $953,000 after acquiring an additional 200 shares during the period. Institutional investors own 77.64% of the company’s stock.

DVN has been the topic of a number of analyst reports. Morgan Stanley increased their price objective on shares of Devon Energy from $42.00 to $48.00 and gave the stock an “overweight” rating in a report on Wednesday, October 18th. BMO Capital Markets set a $38.00 target price on shares of Devon Energy and gave the company a “buy” rating in a research note on Monday, August 28th. Royal Bank Of Canada set a $43.00 target price on shares of Devon Energy and gave the company a “buy” rating in a research note on Friday, August 25th. Stifel Nicolaus set a $61.00 target price on shares of Devon Energy and gave the company a “buy” rating in a research note on Friday, August 25th. Finally, Jefferies Group reaffirmed a “hold” rating and issued a $31.00 price objective (down previously from $35.00) on shares of Devon Energy in a research note on Tuesday, August 29th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and fourteen have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $46.56.

Devon Energy Corporation (DVN) traded up $0.27 during mid-day trading on Thursday, hitting $37.15. 2,854,565 shares of the company traded hands, compared to its average volume of 4,763,220. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.63 and a current ratio of 1.63. The firm has a market capitalization of $19,380.00, a PE ratio of 26.29, a P/E/G ratio of 1.21 and a beta of 2.21. Devon Energy Corporation has a twelve month low of $28.79 and a twelve month high of $50.69.

Devon Energy (NYSE:DVN) last posted its earnings results on Tuesday, October 31st. The energy company reported $0.46 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.07. The firm had revenue of $3.16 billion during the quarter, compared to analysts’ expectations of $3.13 billion. Devon Energy had a net margin of 11.62% and a return on equity of 6.88%. The company’s revenue was up 9.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.89 earnings per share. analysts predict that Devon Energy Corporation will post 1.77 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Thursday, March 15th will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date is Wednesday, March 14th. Devon Energy’s dividend payout ratio (DPR) is presently 8.16%.

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About Devon Energy

Devon Energy Corporation is an independent energy company. The Company also controls EnLink Midstream Partners, L.P. (EnLink). The Company’s segments include U.S., Canada and EnLink. The Company is engaged primarily in the exploration, development and production of oil, natural gas and natural gas liquids (NGLs).

Institutional Ownership by Quarter for Devon Energy (NYSE:DVN)

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