Devon Energy Co. (NYSE:DVN) Shares Sold by Sigma Planning Corp

Sigma Planning Corp trimmed its position in Devon Energy Co. (NYSE:DVN) by 60.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 18,845 shares of the energy company’s stock after selling 28,992 shares during the period. Sigma Planning Corp’s holdings in Devon Energy were worth $854,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Morgan Stanley boosted its holdings in Devon Energy by 23.6% in the 3rd quarter. Morgan Stanley now owns 11,647,104 shares of the energy company’s stock worth $555,567,000 after buying an additional 2,220,194 shares during the last quarter. Victory Capital Management Inc. lifted its stake in Devon Energy by 5.1% in the 3rd quarter. Victory Capital Management Inc. now owns 8,470,996 shares of the energy company’s stock worth $404,067,000 after purchasing an additional 411,777 shares in the last quarter. Raymond James & Associates lifted its stake in Devon Energy by 5.0% in the 3rd quarter. Raymond James & Associates now owns 8,429,670 shares of the energy company’s stock worth $402,095,000 after purchasing an additional 402,055 shares in the last quarter. Northern Trust Corp lifted its stake in Devon Energy by 1.2% in the 3rd quarter. Northern Trust Corp now owns 6,774,537 shares of the energy company’s stock worth $323,145,000 after purchasing an additional 82,607 shares in the last quarter. Finally, Pacer Advisors Inc. lifted its stake in Devon Energy by 1,279.7% in the 4th quarter. Pacer Advisors Inc. now owns 6,145,605 shares of the energy company’s stock worth $278,396,000 after purchasing an additional 5,700,167 shares in the last quarter. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

DVN has been the topic of a number of research reports. Stifel Nicolaus raised their target price on shares of Devon Energy from $65.00 to $66.00 and gave the stock a “buy” rating in a research note on Tuesday. Mizuho decreased their target price on shares of Devon Energy from $54.00 to $53.00 and set a “buy” rating on the stock in a research note on Thursday, January 11th. Scotiabank lifted their price target on shares of Devon Energy from $53.00 to $67.00 and gave the company a “sector outperform” rating in a research report on Thursday, April 11th. Morgan Stanley lifted their price target on shares of Devon Energy from $49.00 to $50.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $55.00 price target on shares of Devon Energy in a research report on Thursday, March 7th. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $58.33.

Devon Energy Stock Up 0.8 %

Shares of NYSE DVN opened at $52.57 on Wednesday. The firm has a market cap of $33.38 billion, a price-to-earnings ratio of 9.02 and a beta of 2.19. The company has a quick ratio of 0.99, a current ratio of 1.07 and a debt-to-equity ratio of 0.46. Devon Energy Co. has a 52-week low of $40.47 and a 52-week high of $55.09. The business’s 50 day moving average is $48.30 and its two-hundred day moving average is $46.05.

Devon Energy (NYSE:DVN) last announced its earnings results on Tuesday, February 27th. The energy company reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.02. The company had revenue of $4.15 billion for the quarter, compared to analyst estimates of $3.88 billion. Devon Energy had a return on equity of 31.72% and a net margin of 24.56%. The firm’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.66 earnings per share. Research analysts predict that Devon Energy Co. will post 5.2 EPS for the current year.

Devon Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were paid a $0.44 dividend. The ex-dividend date was Thursday, March 14th. This represents a $1.76 annualized dividend and a dividend yield of 3.35%. Devon Energy’s dividend payout ratio (DPR) is 15.09%.

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.