Davidson Investment Advisors Decreases Stock Position in Devon Energy Corp (NYSE:DVN)

Davidson Investment Advisors lessened its stake in shares of Devon Energy Corp (NYSE:DVN) by 0.9% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 149,703 shares of the energy company’s stock after selling 1,425 shares during the period. Davidson Investment Advisors’ holdings in Devon Energy were worth $3,602,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. OLD Point Trust & Financial Services N A grew its holdings in shares of Devon Energy by 3.0% in the second quarter. OLD Point Trust & Financial Services N A now owns 34,100 shares of the energy company’s stock worth $972,000 after purchasing an additional 1,000 shares during the last quarter. DNB Asset Management AS boosted its stake in Devon Energy by 67.3% during the 2nd quarter. DNB Asset Management AS now owns 102,059 shares of the energy company’s stock worth $2,911,000 after purchasing an additional 41,043 shares during the last quarter. O Keefe Stevens Advisory Inc. boosted its stake in Devon Energy by 4.3% during the 2nd quarter. O Keefe Stevens Advisory Inc. now owns 55,285 shares of the energy company’s stock worth $1,577,000 after purchasing an additional 2,266 shares during the last quarter. Zions Bancorporation N.A. raised its holdings in shares of Devon Energy by 6.4% during the 2nd quarter. Zions Bancorporation N.A. now owns 7,342 shares of the energy company’s stock worth $209,000 after acquiring an additional 440 shares during the period. Finally, Foundation Resource Management Inc. raised its holdings in shares of Devon Energy by 2.5% during the 2nd quarter. Foundation Resource Management Inc. now owns 63,573 shares of the energy company’s stock worth $1,813,000 after acquiring an additional 1,539 shares during the period. Institutional investors own 84.88% of the company’s stock.

Several research firms have recently commented on DVN. Evercore ISI reiterated a “hold” rating and set a $30.00 price target on shares of Devon Energy in a report on Monday. Goldman Sachs Group reissued a “sell” rating and issued a $25.50 price objective on shares of Devon Energy in a research note on Tuesday, July 23rd. Citigroup dropped their price objective on Devon Energy from $36.00 to $31.00 and set a “buy” rating on the stock in a research note on Monday, September 23rd. MKM Partners set a $32.00 price objective on Devon Energy and gave the stock a “buy” rating in a research note on Monday, August 12th. Finally, SunTrust Banks initiated coverage on Devon Energy in a research note on Tuesday, July 30th. They issued a “buy” rating and a $33.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eleven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $35.87.

In related news, CAO Jeremy D. Humphers sold 1,500 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $21.66, for a total transaction of $32,490.00. Following the sale, the chief accounting officer now owns 42,475 shares of the company’s stock, valued at approximately $920,008.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.63% of the company’s stock.

Shares of NYSE DVN traded up $0.18 during mid-day trading on Tuesday, reaching $22.71. The company had a trading volume of 51,436 shares, compared to its average volume of 7,891,709. The company has a current ratio of 1.72, a quick ratio of 1.72 and a debt-to-equity ratio of 0.66. The stock has a market cap of $8.80 billion, a PE ratio of 17.61, a P/E/G ratio of 1.87 and a beta of 2.35. The company has a 50-day moving average price of $22.08 and a two-hundred day moving average price of $25.56. Devon Energy Corp has a 1-year low of $19.72 and a 1-year high of $35.39.

Devon Energy (NYSE:DVN) last issued its earnings results on Tuesday, November 5th. The energy company reported $0.29 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.10. The business had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $1.57 billion. Devon Energy had a return on equity of 6.37% and a net margin of 16.00%. During the same period in the previous year, the firm posted $0.63 EPS. On average, research analysts expect that Devon Energy Corp will post 1.28 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.59%. The ex-dividend date of this dividend is Thursday, December 12th. Devon Energy’s payout ratio is presently 27.91%.

About Devon Energy

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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