Baxter Bros Inc. Sells 1,315 Shares of Devon Energy Co. (NYSE:DVN)

Baxter Bros Inc. reduced its holdings in shares of Devon Energy Co. (NYSE:DVN) by 4.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 25,490 shares of the energy company’s stock after selling 1,315 shares during the quarter. Baxter Bros Inc.’s holdings in Devon Energy were worth $1,155,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Morgan Stanley raised its stake in Devon Energy by 23.6% in the third quarter. Morgan Stanley now owns 11,647,104 shares of the energy company’s stock valued at $555,567,000 after purchasing an additional 2,220,194 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Devon Energy by 0.8% during the 4th quarter. Victory Capital Management Inc. now owns 8,539,335 shares of the energy company’s stock worth $386,832,000 after acquiring an additional 68,339 shares during the period. Northern Trust Corp lifted its holdings in shares of Devon Energy by 1.2% during the 3rd quarter. Northern Trust Corp now owns 6,774,537 shares of the energy company’s stock worth $323,145,000 after acquiring an additional 82,607 shares during the period. Pacer Advisors Inc. boosted its position in shares of Devon Energy by 1,279.7% during the 4th quarter. Pacer Advisors Inc. now owns 6,145,605 shares of the energy company’s stock worth $278,396,000 after acquiring an additional 5,700,167 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. increased its stake in Devon Energy by 15.0% in the third quarter. Fuller & Thaler Asset Management Inc. now owns 5,355,552 shares of the energy company’s stock valued at $255,460,000 after acquiring an additional 697,849 shares during the last quarter. 69.72% of the stock is owned by institutional investors.

Devon Energy Stock Up 0.4 %

Shares of NYSE DVN traded up $0.20 during trading on Friday, hitting $50.54. The stock had a trading volume of 8,953,763 shares, compared to its average volume of 7,073,719. Devon Energy Co. has a 12 month low of $40.47 and a 12 month high of $55.09. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.04 and a quick ratio of 0.99. The company has a market capitalization of $32.09 billion, a PE ratio of 9.65 and a beta of 2.16. The firm has a fifty day moving average of $49.62 and a two-hundred day moving average of $46.28.

Devon Energy (NYSE:DVN) last posted its earnings results on Wednesday, May 1st. The energy company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.06. Devon Energy had a net margin of 22.27% and a return on equity of 29.02%. The firm had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.64 billion. During the same quarter in the prior year, the business posted $1.46 EPS. The business’s revenue was down 5.9% compared to the same quarter last year. As a group, equities research analysts forecast that Devon Energy Co. will post 5.24 EPS for the current fiscal year.

Devon Energy Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.88 annualized dividend and a yield of 1.74%. Devon Energy’s payout ratio is currently 16.79%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on DVN. Stifel Nicolaus lifted their price target on shares of Devon Energy from $65.00 to $66.00 and gave the company a “buy” rating in a report on Tuesday, April 23rd. StockNews.com raised shares of Devon Energy from a “hold” rating to a “buy” rating in a report on Friday. Scotiabank boosted their target price on shares of Devon Energy from $53.00 to $67.00 and gave the stock a “sector outperform” rating in a report on Thursday, April 11th. Barclays began coverage on shares of Devon Energy in a report on Wednesday, April 10th. They set an “equal weight” rating and a $59.00 target price on the stock. Finally, Mizuho boosted their target price on shares of Devon Energy from $53.00 to $57.00 and gave the stock a “buy” rating in a report on Thursday. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, Devon Energy currently has an average rating of “Moderate Buy” and a consensus price target of $58.44.

Devon Energy 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.