Dumont & Blake Investment Advisors LLC Cuts Stake in Devon Energy Co. (NYSE:DVN)

Dumont & Blake Investment Advisors LLC lowered its stake in Devon Energy Co. (NYSE:DVNFree Report) by 4.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,189 shares of the energy company’s stock after selling 1,120 shares during the period. Dumont & Blake Investment Advisors LLC’s holdings in Devon Energy were worth $1,186,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of DVN. Geode Capital Management LLC boosted its stake in shares of Devon Energy by 6.2% during the 1st quarter. Geode Capital Management LLC now owns 14,145,039 shares of the energy company’s stock valued at $715,360,000 after purchasing an additional 823,626 shares in the last quarter. Morgan Stanley grew its position in Devon Energy by 23.6% in the 3rd quarter. Morgan Stanley now owns 11,647,104 shares of the energy company’s stock worth $555,567,000 after purchasing an additional 2,220,194 shares during the period. Victory Capital Management Inc. increased its position in Devon Energy by 5.1% during the third quarter. Victory Capital Management Inc. now owns 8,470,996 shares of the energy company’s stock valued at $404,067,000 after acquiring an additional 411,777 shares during the last quarter. Raymond James & Associates lifted its stake in shares of Devon Energy by 5.0% in the 3rd quarter. Raymond James & Associates now owns 8,429,670 shares of the energy company’s stock worth $402,095,000 after purchasing an additional 402,055 shares during the period. Finally, Northern Trust Corp raised its position in Devon Energy by 1.4% in the first quarter. Northern Trust Corp now owns 7,371,571 shares of the energy company’s stock worth $435,881,000 after acquiring an additional 99,059 shares during the period. 69.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Mizuho lowered their price objective on Devon Energy from $54.00 to $53.00 and set a “buy” rating on the stock in a research report on Thursday, January 11th. Raymond James reduced their target price on Devon Energy from $53.00 to $52.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 24th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $55.00 target price on shares of Devon Energy in a report on Thursday, March 7th. Piper Sandler lowered their price objective on shares of Devon Energy from $61.00 to $59.00 and set an “overweight” rating for the company in a research note on Wednesday, January 24th. Finally, Citigroup upped their price target on Devon Energy from $52.00 to $55.00 and gave the stock a “buy” rating in a report on Monday, March 18th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.88.

Check Out Our Latest Report on DVN

Devon Energy Trading Up 2.1 %

Shares of DVN traded up $1.06 on Wednesday, hitting $52.68. 6,093,339 shares of the stock traded hands, compared to its average volume of 8,095,681. The stock’s 50 day moving average is $45.04 and its two-hundred day moving average is $45.40. The company has a quick ratio of 0.99, a current ratio of 1.07 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $33.45 billion, a P/E ratio of 8.96 and a beta of 2.19. Devon Energy Co. has a 1 year low of $40.47 and a 1 year high of $56.19.

Devon Energy (NYSE:DVNGet Free Report) last issued its quarterly earnings results on Tuesday, February 27th. The energy company reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $0.02. The firm had revenue of $4.15 billion for the quarter, compared to analyst estimates of $3.88 billion. Devon Energy had a return on equity of 31.72% and a net margin of 24.56%. The firm’s quarterly revenue was down 3.6% on a year-over-year basis. During the same period last year, the company earned $1.66 EPS. As a group, sell-side analysts predict that Devon Energy Co. will post 4.74 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. This represents a $1.76 annualized dividend and a yield of 3.34%. The ex-dividend date of this dividend was Thursday, March 14th. Devon Energy’s dividend payout ratio (DPR) is 15.09%.

Devon Energy Company Profile

(Free Report)

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.

See Also

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

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