Vanguard Capital Wealth Advisors Lowers Stock Position in Devon Energy Co. (NYSE:DVN)

Vanguard Capital Wealth Advisors lessened its holdings in Devon Energy Co. (NYSE:DVN) by 3.6% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 10,685 shares of the energy company’s stock after selling 400 shares during the period. Vanguard Capital Wealth Advisors’ holdings in Devon Energy were worth $484,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. Mission Wealth Management LP lifted its position in shares of Devon Energy by 53.1% in the 4th quarter. Mission Wealth Management LP now owns 7,886 shares of the energy company’s stock worth $357,000 after purchasing an additional 2,735 shares during the period. Pekin Hardy Strauss Inc. lifted its position in shares of Devon Energy by 13.7% in the 4th quarter. Pekin Hardy Strauss Inc. now owns 214,616 shares of the energy company’s stock worth $9,722,000 after purchasing an additional 25,786 shares during the period. Penobscot Investment Management Company Inc. lifted its position in shares of Devon Energy by 151.5% in the 4th quarter. Penobscot Investment Management Company Inc. now owns 12,902 shares of the energy company’s stock worth $584,000 after purchasing an additional 7,772 shares during the period. Kestra Private Wealth Services LLC lifted its position in shares of Devon Energy by 4.0% in the 4th quarter. Kestra Private Wealth Services LLC now owns 35,583 shares of the energy company’s stock worth $1,612,000 after purchasing an additional 1,367 shares during the period. Finally, Cypress Capital Management LLC WY lifted its position in shares of Devon Energy by 47.4% in the 4th quarter. Cypress Capital Management LLC WY now owns 32,807 shares of the energy company’s stock worth $1,486,000 after purchasing an additional 10,557 shares during the period. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Devon Energy Stock Performance

DVN stock traded down $1.90 during midday trading on Tuesday, hitting $51.18. 7,534,268 shares of the stock traded hands, compared to its average volume of 7,816,298. The firm has a market cap of $32.50 billion, a P/E ratio of 8.78 and a beta of 2.19. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.07 and a quick ratio of 0.99. The stock’s fifty day simple moving average is $49.07 and its 200-day simple moving average is $46.22. Devon Energy Co. has a 1-year low of $40.47 and a 1-year high of $55.09.

Devon Energy (NYSE:DVN) last released its quarterly earnings results on Tuesday, February 27th. The energy company reported $1.41 EPS for the quarter, beating the consensus estimate 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 net margin of 24.56% and a return on equity of 31.72%. The firm’s revenue was down 3.6% on a year-over-year basis. During the same quarter last year, the business earned $1.66 earnings per share. On average, analysts expect that Devon Energy Co. will post 5.28 earnings per share for the current year.

Devon Energy Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were given a dividend of $0.44 per share. The ex-dividend date was Thursday, March 14th. This represents a $1.76 annualized dividend and a dividend yield of 3.44%. Devon Energy’s dividend payout ratio (DPR) is presently 15.09%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on DVN. Stifel Nicolaus increased their target price on shares of Devon Energy from $65.00 to $66.00 and gave the company a “buy” rating in a research report on Tuesday, April 23rd. Piper Sandler increased their target price on shares of Devon Energy from $59.00 to $60.00 and gave the company an “overweight” rating in a research report on Friday, April 19th. Mizuho decreased their target price on shares of Devon Energy from $54.00 to $53.00 and set a “buy” rating for the company in a research report on Thursday, January 11th. Wells Fargo & Company raised shares of Devon Energy from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $46.00 to $59.00 in a research report on Monday, April 1st. Finally, Morgan Stanley upped their price target on shares of Devon Energy from $49.00 to $50.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Five analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $58.33.

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.