Checchi Capital Advisers LLC Reduces Position in Devon Energy Co. (NYSE:DVN)

Checchi Capital Advisers LLC lessened its holdings in shares of Devon Energy Co. (NYSE:DVN) by 25.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,827 shares of the energy company’s stock after selling 1,682 shares during the quarter. Checchi Capital Advisers LLC’s holdings in Devon Energy were worth $219,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. Annis Gardner Whiting Capital Advisors LLC purchased a new position in shares of Devon Energy during the 3rd quarter worth $27,000. Sound Income Strategies LLC lifted its stake in shares of Devon Energy by 60.7% during the 4th quarter. Sound Income Strategies LLC now owns 675 shares of the energy company’s stock valued at $31,000 after buying an additional 255 shares in the last quarter. Rise Advisors LLC lifted its stake in shares of Devon Energy by 1,365.3% during the 4th quarter. Rise Advisors LLC now owns 718 shares of the energy company’s stock valued at $33,000 after buying an additional 669 shares in the last quarter. PFS Partners LLC purchased a new position in shares of Devon Energy during the 4th quarter valued at $36,000. Finally, Naples Money Management LLC purchased a new position in shares of Devon Energy during the 4th quarter valued at $40,000. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on DVN shares. Morgan Stanley lifted their target price on shares of Devon Energy from $49.00 to $50.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. UBS Group lifted their target price on shares of Devon Energy from $48.00 to $57.00 and gave the company a “neutral” rating in a research note on Wednesday, April 10th. Royal Bank of Canada lifted their target price on shares of Devon Energy from $55.00 to $57.00 and gave the company a “sector perform” rating in a research note on Thursday, May 9th. Mizuho lifted their target price on shares of Devon Energy from $57.00 to $61.00 and gave the company a “buy” rating in a research note on Monday. Finally, Stifel Nicolaus boosted their price target on shares of Devon Energy from $65.00 to $66.00 and gave the stock a “buy” rating in a research note on Tuesday, April 23rd. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $58.83.

Insider Buying and Selling

In other news, EVP Tana K. Cashion sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $51.04, for a total transaction of $1,020,800.00. Following the transaction, the executive vice president now directly owns 104,182 shares of the company’s stock, valued at $5,317,449.28. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.63% of the stock is currently owned by corporate insiders.

Devon Energy Stock Up 0.1 %

Shares of NYSE DVN opened at $49.74 on Thursday. The firm’s 50-day moving average price is $50.56 and its 200-day moving average price is $46.41. The company has a current ratio of 1.04, a quick ratio of 0.97 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $31.44 billion, a price-to-earnings ratio of 9.48 and a beta of 2.15. Devon Energy Co. has a 12-month low of $40.47 and a 12-month high of $55.09.

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

Devon Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date of this dividend is Friday, June 14th. Devon Energy’s dividend payout ratio (DPR) is currently 16.79%.

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.