Harbour Investments Inc. Sells 4,461 Shares of Devon Energy Co. (NYSE:DVN)

Harbour Investments Inc. trimmed its position in Devon Energy Co. (NYSE:DVN) by 38.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 7,111 shares of the energy company’s stock after selling 4,461 shares during the quarter. Harbour Investments Inc.’s holdings in Devon Energy were worth $233,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Sfmg LLC grew its stake in Devon Energy by 0.5% in the 3rd quarter. Sfmg LLC now owns 64,871 shares of the energy company’s stock valued at $2,538,000 after buying an additional 294 shares during the last quarter. Redwood Wealth Management Group LLC grew its stake in Devon Energy by 3.9% in the 4th quarter. Redwood Wealth Management Group LLC now owns 8,141 shares of the energy company’s stock valued at $266,000 after buying an additional 309 shares during the last quarter. Cornerstone Wealth Management LLC grew its stake in Devon Energy by 1.6% in the 4th quarter. Cornerstone Wealth Management LLC now owns 21,242 shares of the energy company’s stock valued at $695,000 after buying an additional 326 shares during the last quarter. Annex Advisory Services LLC grew its stake in Devon Energy by 1.2% in the 4th quarter. Annex Advisory Services LLC now owns 27,021 shares of the energy company’s stock valued at $884,000 after buying an additional 327 shares during the last quarter. Finally, Fiduciary Trust Co grew its stake in Devon Energy by 3.1% in the 3rd quarter. Fiduciary Trust Co now owns 11,074 shares of the energy company’s stock valued at $433,000 after buying an additional 329 shares during the last quarter. 69.72% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on DVN. Benchmark restated a “buy” rating and set a $44.00 target price on shares of Devon Energy in a research report on Thursday, February 20th. Raymond James decreased their target price on shares of Devon Energy from $54.00 to $46.00 and set an “outperform” rating on the stock in a research report on Monday, March 10th. Piper Sandler increased their target price on shares of Devon Energy from $54.00 to $55.00 and gave the stock an “overweight” rating in a research report on Monday, February 24th. Mizuho reduced their price target on shares of Devon Energy from $51.00 to $47.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. Finally, Williams Trading set a $50.00 price target on shares of Devon Energy in a research report on Wednesday, March 5th. Ten investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, Devon Energy has a consensus rating of “Moderate Buy” and an average price target of $48.46.

Devon Energy Price Performance

DVN stock opened at $36.18 on Friday. The company has a fifty day moving average price of $35.46 and a 200-day moving average price of $37.06. The company has a market capitalization of $23.48 billion, a P/E ratio of 7.93, a PEG ratio of 1.20 and a beta of 1.91. Devon Energy Co. has a 52-week low of $30.39 and a 52-week high of $55.09. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.01 and a current ratio of 1.04.

Devon Energy (NYSE:DVN) last released its quarterly earnings results on Tuesday, February 18th. The energy company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.16. The firm had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.25 billion. Devon Energy had a net margin of 18.14% and a return on equity of 22.52%. As a group, equities analysts expect that Devon Energy Co. will post 4.85 EPS for the current year.

Devon Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date of this dividend is Friday, March 14th. This is an increase from Devon Energy’s previous quarterly dividend of $0.22. Devon Energy’s dividend payout ratio (DPR) is currently 21.05%.

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.