Devon Energy Co. (NYSE:DVN) Shares Sold by Freedom Investment Management Inc.

Freedom Investment Management Inc. decreased its position in Devon Energy Co. (NYSE:DVN) by 3.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,495 shares of the energy company’s stock after selling 348 shares during the quarter. Freedom Investment Management Inc.’s holdings in Devon Energy were worth $278,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Hurley Capital LLC purchased a new position in shares of Devon Energy in the 4th quarter valued at about $26,000. Cromwell Holdings LLC boosted its holdings in Devon Energy by 98.0% in the fourth quarter. Cromwell Holdings LLC now owns 1,208 shares of the energy company’s stock valued at $40,000 after purchasing an additional 598 shares in the last quarter. Sierra Ocean LLC purchased a new position in Devon Energy in the fourth quarter valued at approximately $43,000. Endeavor Private Wealth Inc. acquired a new stake in Devon Energy during the fourth quarter worth approximately $52,000. Finally, Thompson Investment Management Inc. lifted its position in shares of Devon Energy by 60.0% during the 4th quarter. Thompson Investment Management Inc. now owns 1,600 shares of the energy company’s stock worth $52,000 after buying an additional 600 shares during the last quarter. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Devon Energy Stock Up 5.7 %

DVN opened at $31.17 on Wednesday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 1.01. Devon Energy Co. has a 12 month low of $25.89 and a 12 month high of $53.20. The stock has a market capitalization of $20.23 billion, a P/E ratio of 6.84, a P/E/G ratio of 1.20 and a beta of 1.50. The business has a 50 day simple moving average of $33.77 and a 200-day simple moving average of $35.63.

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

Devon Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were issued a dividend of $0.24 per share. The ex-dividend date was Friday, March 14th. This represents a $0.96 dividend on an annualized basis and a yield of 3.08%. This is an increase from Devon Energy’s previous quarterly dividend of $0.22. Devon Energy’s payout ratio is currently 21.05%.

Analyst Upgrades and Downgrades

DVN has been the topic of a number of recent analyst reports. Mizuho dropped their target price on shares of Devon Energy from $49.00 to $46.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 9th. Barclays raised their price objective on Devon Energy from $43.00 to $44.00 and gave the stock an “equal weight” rating in a report on Thursday, February 20th. Wolfe Research raised Devon Energy from a “peer perform” rating to an “outperform” rating and set a $45.00 target price for the company in a report on Friday, January 3rd. UBS Group dropped their price target on Devon Energy from $41.00 to $35.00 and set a “neutral” rating on the stock in a research note on Monday, April 7th. Finally, Sanford C. Bernstein upgraded Devon Energy from a “market perform” rating to an “outperform” rating and set a $45.00 price objective for the company in a research note on Wednesday, January 15th. Ten research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $46.21.

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.