Devon Energy Co. (NYSE:DVN) Shares Sold by U.S. Capital Wealth Advisors LLC

U.S. Capital Wealth Advisors LLC trimmed its stake in Devon Energy Co. (NYSE:DVN) by 18.1% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 127,140 shares of the energy company’s stock after selling 28,182 shares during the quarter. U.S. Capital Wealth Advisors LLC’s holdings in Devon Energy were worth $4,974,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Retirement Group LLC boosted its position in shares of Devon Energy by 21.8% in the 1st quarter. Retirement Group LLC now owns 1,110 shares of the energy company’s stock valued at $56,000 after purchasing an additional 199 shares during the period. Whittier Trust Co. of Nevada Inc. raised its holdings in shares of Devon Energy by 7.4% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 3,046 shares of the energy company’s stock valued at $153,000 after acquiring an additional 209 shares during the period. MCF Advisors LLC boosted its stake in Devon Energy by 5.6% in the 1st quarter. MCF Advisors LLC now owns 4,023 shares of the energy company’s stock worth $202,000 after purchasing an additional 215 shares during the period. Annex Advisory Services LLC raised its stake in Devon Energy by 0.8% during the 2nd quarter. Annex Advisory Services LLC now owns 27,651 shares of the energy company’s stock valued at $1,311,000 after purchasing an additional 223 shares during the period. Finally, Versant Capital Management Inc lifted its holdings in shares of Devon Energy by 30.4% in the second quarter. Versant Capital Management Inc now owns 970 shares of the energy company’s stock valued at $46,000 after purchasing an additional 226 shares in the last quarter. Institutional investors and hedge funds own 69.72% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on DVN shares. StockNews.com lowered Devon Energy from a “buy” rating to a “hold” rating in a research report on Monday, September 2nd. UBS Group dropped their target price on Devon Energy from $53.00 to $47.00 and set a “neutral” rating on the stock in a report on Wednesday, September 18th. Susquehanna decreased their price target on shares of Devon Energy from $63.00 to $62.00 and set a “positive” rating for the company in a report on Friday, October 18th. JPMorgan Chase & Co. lowered their price objective on shares of Devon Energy from $64.00 to $51.00 and set an “overweight” rating on the stock in a research report on Thursday, September 12th. Finally, Wells Fargo & Company reiterated a “sector outperform” rating on shares of Devon Energy in a research report on Friday, October 18th. Nine investment 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 company currently has an average rating of “Moderate Buy” and an average target price of $52.53.

Devon Energy Stock Performance

DVN traded down $0.55 during trading on Wednesday, hitting $39.62. The stock had a trading volume of 1,994,090 shares, compared to its average volume of 7,315,010. The firm has a market cap of $25.04 billion, a PE ratio of 7.67, a P/E/G ratio of 1.27 and a beta of 2.02. The company has a current ratio of 1.11, a quick ratio of 1.03 and a debt-to-equity ratio of 0.45. Devon Energy Co. has a 12 month low of $37.76 and a 12 month high of $55.09. The company has a 50 day simple moving average of $41.96 and a 200-day simple moving average of $46.05.

Devon Energy (NYSE:DVN) last posted its quarterly earnings data on Tuesday, August 6th. The energy company reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.15. Devon Energy had a return on equity of 29.14% and a net margin of 22.60%. The business had revenue of $3.92 billion for the quarter, compared to analyst estimates of $3.90 billion. During the same period in the previous year, the company posted $1.18 earnings per share. The firm’s revenue for the quarter was up 13.4% on a year-over-year basis. Analysts expect that Devon Energy Co. will post 5.01 EPS for the current year.

Devon Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were given a $0.22 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.88 annualized dividend and a dividend yield of 2.22%. Devon Energy’s dividend payout ratio is 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.