World Asset Management Inc trimmed its holdings in shares of Devon Energy Corp (NYSE:DVN) by 19.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,933 shares of the energy company’s stock after selling 4,042 shares during the period. World Asset Management Inc’s holdings in Devon Energy were worth $192,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of DVN. Guggenheim Capital LLC boosted its stake in shares of Devon Energy by 15.0% during the 4th quarter. Guggenheim Capital LLC now owns 202,400 shares of the energy company’s stock worth $5,257,000 after acquiring an additional 26,383 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its stake in shares of Devon Energy by 24.4% during the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 17,212 shares of the energy company’s stock worth $445,000 after acquiring an additional 3,379 shares in the last quarter. Pearl River Capital LLC boosted its stake in shares of Devon Energy by 20.9% during the 4th quarter. Pearl River Capital LLC now owns 11,777 shares of the energy company’s stock worth $306,000 after acquiring an additional 2,037 shares in the last quarter. Norges Bank bought a new stake in Devon Energy during the 4th quarter valued at approximately $126,508,000. Finally, State of Alaska Department of Revenue boosted its stake in Devon Energy by 5.2% during the 1st quarter. State of Alaska Department of Revenue now owns 170,859 shares of the energy company’s stock valued at $1,179,000 after purchasing an additional 8,465 shares during the period. 81.86% of the stock is currently owned by hedge funds and other institutional investors.

Shares of DVN opened at $10.49 on Friday. The stock has a market capitalization of $3.96 billion, a P/E ratio of 8.99 and a beta of 3.34. The company has a quick ratio of 2.61, a current ratio of 2.61 and a debt-to-equity ratio of 1.06. Devon Energy Corp has a twelve month low of $4.70 and a twelve month high of $28.42. The company has a 50 day moving average of $11.28 and a 200-day moving average of $13.78.

Devon Energy (NYSE:DVN) last released its quarterly earnings data on Tuesday, May 5th. The energy company reported $0.13 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.18) by $0.31. The firm had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $1.47 billion. Devon Energy had a negative net margin of 24.91% and a positive return on equity of 7.81%. The company’s revenue for the quarter was up 93.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.36 earnings per share. On average, sell-side analysts anticipate that Devon Energy Corp will post -0.35 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Monday, September 14th will be given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 4.19%. The ex-dividend date of this dividend is Friday, September 11th. Devon Energy’s payout ratio is 31.88%.

Several brokerages recently weighed in on DVN. Piper Sandler upgraded Devon Energy from a “neutral” rating to an “overweight” rating and increased their target price for the company from $10.00 to $15.00 in a research note on Tuesday, July 21st. Scotiabank decreased their target price on Devon Energy from $20.00 to $16.00 and set a “sector outperform” rating for the company in a research note on Monday, July 13th. SunTrust Banks increased their target price on Devon Energy from $13.00 to $14.00 and gave the company a “hold” rating in a research note on Friday, June 19th. Bank of America increased their target price on Devon Energy from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Finally, JPMorgan Chase & Co. downgraded Devon Energy from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $15.00 to $13.00 in a research note on Thursday, July 23rd. Nine equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Devon Energy has an average rating of “Buy” and an average price target of $18.73.

Devon Energy Profile

Devon Energy Corporation, an independent energy company, primarily engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States and Canada. It operates approximately 12,900 gross wells. The company was founded in 1971 and is headquartered in Oklahoma City, Oklahoma.

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Institutional Ownership by Quarter for Devon Energy (NYSE:DVN)

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