Devon Energy Co. (NYSE:DVN) Shares Sold by TrinityPoint Wealth LLC

TrinityPoint Wealth LLC decreased its position in Devon Energy Co. (NYSE:DVN) by 39.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 38,740 shares of the energy company’s stock after selling 25,226 shares during the quarter. TrinityPoint Wealth LLC’s holdings in Devon Energy were worth $1,268,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in DVN. Vanguard Group Inc. lifted its holdings in shares of Devon Energy by 7.3% in the 4th quarter. Vanguard Group Inc. now owns 80,682,170 shares of the energy company’s stock worth $2,640,727,000 after purchasing an additional 5,465,692 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Devon Energy in the 4th quarter worth approximately $154,170,000. Fuller & Thaler Asset Management Inc. lifted its holdings in shares of Devon Energy by 42.8% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 10,395,225 shares of the energy company’s stock worth $340,236,000 after purchasing an additional 3,114,656 shares during the last quarter. Marshall Wace LLP lifted its holdings in shares of Devon Energy by 135.5% in the 4th quarter. Marshall Wace LLP now owns 5,371,518 shares of the energy company’s stock worth $175,810,000 after purchasing an additional 3,090,585 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Devon Energy by 32.8% in the 4th quarter. Invesco Ltd. now owns 9,461,719 shares of the energy company’s stock worth $309,682,000 after purchasing an additional 2,335,473 shares during the last quarter. Institutional investors and hedge funds own 69.72% of the company’s stock.

Devon Energy Trading Down 0.4%

Shares of DVN opened at $33.26 on Friday. The business’s 50-day moving average price is $32.50 and its 200 day moving average price is $34.54. The stock has a market capitalization of $21.35 billion, a P/E ratio of 7.29, a P/E/G ratio of 1.20 and a beta of 1.00. Devon Energy Co. has a 1-year low of $25.89 and a 1-year high of $50.24. The company has a current ratio of 1.04, a quick ratio of 1.01 and a debt-to-equity ratio of 0.57.

Devon Energy (NYSE:DVN) last issued its quarterly earnings results on Tuesday, May 6th. The energy company reported $1.21 earnings per share for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.06). The company had revenue of $4.45 billion during the quarter, compared to analysts’ expectations of $4.31 billion. Devon Energy had a return on equity of 22.52% and a net margin of 18.14%. The company’s revenue for the quarter was up 23.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.16 EPS. Analysts expect that Devon Energy Co. will post 4.85 earnings per share for the current year.

Devon Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be paid a $0.24 dividend. The ex-dividend date is Friday, June 13th. This represents a $0.96 dividend on an annualized basis and a yield of 2.89%. Devon Energy’s dividend payout ratio is currently 21.87%.

Analysts Set New Price Targets

Several brokerages recently issued reports on DVN. Mizuho cut their price target on Devon Energy from $46.00 to $43.00 and set an “outperform” rating on the stock in a report on Tuesday, May 13th. Susquehanna cut their target price on Devon Energy from $52.00 to $41.00 and set a “positive” rating on the stock in a research note on Tuesday, April 22nd. The Goldman Sachs Group lifted their target price on Devon Energy from $38.00 to $43.00 and gave the company a “buy” rating in a research note on Thursday. Benchmark reaffirmed a “buy” rating and set a $44.00 target price on shares of Devon Energy in a research note on Thursday, February 20th. Finally, StockNews.com raised Devon Energy from a “sell” rating to a “hold” rating in a research note on Thursday. Ten research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $43.83.

About Devon Energy

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.