D.A. Davidson & CO. Sells 34,681 Shares of Devon Energy Co. (NYSE:DVN)

D.A. Davidson & CO. decreased its stake in shares of Devon Energy Co. (NYSE:DVN) by 8.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 364,253 shares of the energy company’s stock after selling 34,681 shares during the period. D.A. Davidson & CO.’s holdings in Devon Energy were worth $14,250,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of DVN. Triad Wealth Partners LLC bought a new stake in shares of Devon Energy during the 2nd quarter valued at about $27,000. 1620 Investment Advisors Inc. bought a new stake in Devon Energy during the second quarter worth about $34,000. Capital Performance Advisors LLP bought a new stake in Devon Energy during the third quarter worth about $35,000. PSI Advisors LLC boosted its stake in Devon Energy by 66.7% during the second quarter. PSI Advisors LLC now owns 750 shares of the energy company’s stock worth $36,000 after acquiring an additional 300 shares in the last quarter. Finally, LRI Investments LLC bought a new stake in Devon Energy during the first quarter worth about $39,000. Institutional investors own 69.72% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on DVN shares. Piper Sandler boosted their price objective on shares of Devon Energy from $56.00 to $57.00 and gave the stock an “overweight” rating in a research note on Monday, November 18th. Jefferies Financial Group started coverage on shares of Devon Energy in a research note on Thursday, October 3rd. They set a “hold” rating and a $45.00 price objective on the stock. Wells Fargo & Company dropped their price objective on shares of Devon Energy from $50.00 to $49.00 and set an “overweight” rating on the stock in a research note on Thursday, November 7th. Citigroup dropped their price objective on shares of Devon Energy from $55.00 to $48.00 and set a “buy” rating on the stock in a research note on Tuesday. Finally, Benchmark reaffirmed a “hold” rating on shares of Devon Energy in a report on Tuesday, October 15th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $51.15.

Devon Energy Stock Down 1.5 %

DVN opened at $37.71 on Wednesday. The company has a quick ratio of 1.01, a current ratio of 1.11 and a debt-to-equity ratio of 0.61. The firm has a 50 day moving average price of $39.91 and a 200-day moving average price of $43.81. Devon Energy Co. has a twelve month low of $37.28 and a twelve month high of $55.09. The stock has a market capitalization of $24.77 billion, a price-to-earnings ratio of 7.00, a PEG ratio of 1.25 and a beta of 2.03.

Devon Energy (NYSE:DVN) last released its quarterly earnings data on Tuesday, November 5th. The energy company reported $1.10 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.01. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%. The firm had revenue of $4.02 billion during the quarter, compared to analysts’ expectations of $3.72 billion. During the same period in the previous year, the company earned $1.65 earnings per share. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. Equities research analysts forecast that Devon Energy Co. will post 4.79 earnings per share for the current year.

Devon Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.88 dividend on an annualized basis and a yield of 2.33%. Devon Energy’s dividend payout ratio is currently 16.33%.

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.