First Dallas Securities Inc. Sells 24,298 Shares of Devon Energy Corporation $DVN

First Dallas Securities Inc. decreased its holdings in shares of Devon Energy Corporation (NYSE:DVN) by 43.3% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 31,769 shares of the energy company’s stock after selling 24,298 shares during the quarter. First Dallas Securities Inc.’s holdings in Devon Energy were worth $1,011,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Banque Cantonale Vaudoise bought a new stake in Devon Energy in the first quarter valued at about $26,000. Opal Wealth Advisors LLC bought a new position in Devon Energy during the second quarter worth about $25,000. Trust Co. of Vermont grew its position in shares of Devon Energy by 241.3% during the 2nd quarter. Trust Co. of Vermont now owns 942 shares of the energy company’s stock worth $30,000 after buying an additional 666 shares during the period. SouthState Corp increased its stake in shares of Devon Energy by 350.5% in the 1st quarter. SouthState Corp now owns 991 shares of the energy company’s stock valued at $37,000 after acquiring an additional 771 shares during the last quarter. Finally, Hughes Financial Services LLC acquired a new stake in shares of Devon Energy in the 1st quarter valued at approximately $38,000. 69.72% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on DVN. Barclays decreased their price objective on shares of Devon Energy from $42.00 to $40.00 and set an “equal weight” rating for the company in a report on Tuesday, October 7th. BMO Capital Markets upped their price objective on shares of Devon Energy from $48.00 to $51.00 and gave the company an “outperform” rating in a research report on Monday, July 14th. Royal Bank Of Canada set a $42.00 target price on Devon Energy and gave the stock a “sector perform” rating in a report on Friday, October 10th. Evercore ISI boosted their target price on Devon Energy from $34.00 to $37.00 and gave the company an “in-line” rating in a research note on Monday, October 6th. Finally, Morgan Stanley dropped their price target on Devon Energy from $49.00 to $47.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 14th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.04.

Devon Energy Stock Up 3.9%

Shares of DVN stock opened at $33.68 on Monday. The firm’s fifty day moving average price is $33.97 and its two-hundred day moving average price is $33.27. The company has a current ratio of 1.22, a quick ratio of 1.13 and a debt-to-equity ratio of 0.55. Devon Energy Corporation has a 1 year low of $25.89 and a 1 year high of $39.74. The firm has a market capitalization of $21.38 billion, a P/E ratio of 7.55, a PEG ratio of 2.49 and a beta of 1.01.

Devon Energy (NYSE:DVN) last announced its quarterly earnings data on Wednesday, November 5th. The energy company reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.11. Devon Energy had a return on equity of 18.59% and a net margin of 16.57%.The company had revenue of $0.00 million during the quarter, compared to analysts’ expectations of $4.10 billion. During the same quarter last year, the company earned $1.10 EPS. On average, equities analysts predict that Devon Energy Corporation will post 4.85 EPS for the current fiscal year.

Devon Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Monday, December 15th will be paid a dividend of $0.24 per share. The ex-dividend date is Monday, December 15th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.9%. Devon Energy’s dividend payout ratio is currently 22.59%.

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.