Arkfeld Wealth Strategies L.L.C. Sells 1,565 Shares of Devon Energy Co. (NYSE:DVN)

Arkfeld Wealth Strategies L.L.C. lessened its holdings in Devon Energy Co. (NYSE:DVN) by 3.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 40,401 shares of the energy company’s stock after selling 1,565 shares during the quarter. Arkfeld Wealth Strategies L.L.C.’s holdings in Devon Energy were worth $1,322,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Sei Investments Co. increased its position in shares of Devon Energy by 13.6% during the 2nd quarter. Sei Investments Co. now owns 259,674 shares of the energy company’s stock worth $12,309,000 after purchasing an additional 31,175 shares in the last quarter. Marshall Wace LLP increased its position in shares of Devon Energy by 368.6% during the 2nd quarter. Marshall Wace LLP now owns 202,740 shares of the energy company’s stock worth $9,610,000 after purchasing an additional 159,473 shares in the last quarter. AXA S.A. increased its position in shares of Devon Energy by 61.9% during the 2nd quarter. AXA S.A. now owns 105,201 shares of the energy company’s stock worth $4,987,000 after purchasing an additional 40,232 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Devon Energy by 227.4% during the 2nd quarter. AQR Capital Management LLC now owns 746,040 shares of the energy company’s stock worth $35,258,000 after purchasing an additional 518,189 shares in the last quarter. Finally, MBB Public Markets I LLC acquired a new stake in shares of Devon Energy during the 2nd quarter worth about $2,611,000. Institutional investors own 69.72% of the company’s stock.

Devon Energy Stock Performance

Shares of DVN opened at $35.98 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.11. Devon Energy Co. has a twelve month low of $30.39 and a twelve month high of $55.09. The firm’s 50 day moving average price is $35.27 and its two-hundred day moving average price is $39.90. The firm has a market cap of $23.64 billion, a P/E ratio of 6.68, a PEG ratio of 1.21 and a beta of 2.00.

Devon Energy (NYSE:DVN) last announced its quarterly earnings results on Tuesday, November 5th. The energy company reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates of $1.09 by $0.01. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%. The firm had revenue of $4.02 billion for the quarter, compared to analyst estimates of $3.72 billion. During the same quarter in the previous year, the firm posted $1.65 earnings per share. The business’s revenue was up 4.9% on a year-over-year basis. On average, analysts forecast that Devon Energy Co. will post 4.7 EPS for the current fiscal year.

Devon Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Friday, December 13th were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date was Friday, December 13th. Devon Energy’s payout ratio is currently 16.33%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on DVN shares. Royal Bank of Canada reiterated a “sector perform” rating and set a $50.00 target price on shares of Devon Energy in a research report on Friday, January 10th. Evercore ISI lowered their price objective on shares of Devon Energy from $55.00 to $50.00 and set an “in-line” rating for the company in a research report on Monday, September 30th. Wolfe Research upgraded shares of Devon Energy from a “peer perform” rating to an “outperform” rating and set a $45.00 price objective for the company in a research report on Friday, January 3rd. Susquehanna lowered their price objective on shares of Devon Energy from $63.00 to $62.00 and set a “positive” rating for the company in a research report on Friday, October 18th. Finally, BMO Capital Markets lowered their price objective on shares of Devon Energy from $52.00 to $48.00 and set an “outperform” rating for the company in a research report on Friday, October 4th. Nine analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $49.41.

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.