Devon Energy Corporation $DVN Shares Sold by Stonebrook Private Inc.

Stonebrook Private Inc. reduced its position in shares of Devon Energy Corporation (NYSE:DVN) by 28.0% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 6,628 shares of the energy company’s stock after selling 2,580 shares during the period. Stonebrook Private Inc.’s holdings in Devon Energy were worth $211,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Ameriprise Financial Inc. increased its position in shares of Devon Energy by 81.1% during the first quarter. Ameriprise Financial Inc. now owns 5,029,987 shares of the energy company’s stock worth $188,131,000 after purchasing an additional 2,252,918 shares in the last quarter. Vanguard Group Inc. boosted its stake in Devon Energy by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 82,780,738 shares of the energy company’s stock worth $3,096,000,000 after purchasing an additional 2,098,568 shares during the last quarter. Nuveen LLC acquired a new stake in Devon Energy during the 1st quarter worth $69,975,000. AQR Capital Management LLC grew its holdings in shares of Devon Energy by 100.0% during the first quarter. AQR Capital Management LLC now owns 3,558,362 shares of the energy company’s stock worth $132,051,000 after buying an additional 1,779,382 shares in the last quarter. Finally, Encompass Capital Advisors LLC acquired a new stake in shares of Devon Energy in the first quarter valued at about $63,561,000. Institutional investors and hedge funds own 69.72% of the company’s stock.

Devon Energy Stock Down 1.6%

Shares of NYSE:DVN opened at $35.31 on Thursday. The company has a market capitalization of $22.15 billion, a price-to-earnings ratio of 7.92, a PEG ratio of 2.49 and a beta of 1.01. Devon Energy Corporation has a 12-month low of $25.89 and a 12-month high of $39.65. The business has a 50-day moving average price of $33.96 and a 200 day moving average price of $33.48. 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 (NYSE:DVN) last announced its earnings results on Wednesday, November 5th. The energy company reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.11. Devon Energy had a net margin of 16.57% and a return on equity of 18.59%. The company had revenue of $0.00 million during the quarter, compared to analyst estimates of $4.10 billion. During the same quarter last year, the firm posted $1.10 earnings per share. Sell-side analysts expect that Devon Energy Corporation will post 4.85 EPS for the current year.

Devon Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Monday, December 15th will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date is Monday, December 15th. Devon Energy’s dividend payout ratio is 22.59%.

Analysts Set New Price Targets

DVN has been the topic of a number of recent research reports. Mizuho lowered their price target on shares of Devon Energy from $43.00 to $40.00 and set an “outperform” rating on the stock in a research report on Monday, September 15th. Scotiabank reissued an “outperform” rating on shares of Devon Energy in a research note on Thursday, October 9th. Piper Sandler dropped their price target on Devon Energy from $57.00 to $55.00 and set an “overweight” rating for the company in a research report on Tuesday. Wells Fargo & Company cut their price target on Devon Energy from $43.00 to $37.00 and set an “overweight” rating for the company in a report on Friday, October 17th. Finally, Capital One Financial reduced their price objective on Devon Energy from $52.00 to $51.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 11th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $43.79.

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.