MONECO Advisors LLC Has $465,000 Stake in Devon Energy Co. (NYSE:DVN)

MONECO Advisors LLC cut its stake in Devon Energy Co. (NYSE:DVN) by 9.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 14,209 shares of the energy company’s stock after selling 1,534 shares during the period. MONECO Advisors LLC’s holdings in Devon Energy were worth $465,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. EnCap Energy Capital Fund XI L.P. bought a new position in shares of Devon Energy during the third quarter worth about $461,857,000. EnCap Partners GP LLC bought a new stake in shares of Devon Energy in the third quarter worth $408,653,000. EnCap Energy Capital Fund X L.P. bought a new position in Devon Energy in the third quarter valued at $230,928,000. Pacer Advisors Inc. increased its stake in Devon Energy by 16.9% in the 3rd quarter. Pacer Advisors Inc. now owns 11,591,168 shares of the energy company’s stock valued at $453,446,000 after buying an additional 1,677,652 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in shares of Devon Energy by 90.8% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 2,724,407 shares of the energy company’s stock worth $89,170,000 after buying an additional 1,296,590 shares during the last quarter. Institutional investors own 69.72% of the company’s stock.

Devon Energy Stock Performance

DVN opened at $37.27 on Tuesday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 1.01. The company has a market capitalization of $24.18 billion, a PE ratio of 8.17, a price-to-earnings-growth ratio of 1.20 and a beta of 1.98. The business has a fifty day simple moving average of $34.57 and a 200 day simple moving average of $38.26. Devon Energy Co. has a 1 year low of $30.39 and a 1 year high of $55.09.

Devon Energy (NYSE:DVN) last released its quarterly earnings results on Tuesday, February 18th. The energy company reported $1.16 EPS for the quarter, beating the consensus estimate of $1.00 by $0.16. Devon Energy had a net margin of 18.14% and a return on equity of 22.52%. The business had revenue of $4.40 billion for the quarter, compared to the consensus estimate of $4.25 billion. Research analysts expect that Devon Energy Co. will post 4.85 EPS for the current year.

Devon Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a dividend of $0.24 per share. The ex-dividend date is Friday, March 14th. This is a boost from Devon Energy’s previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a dividend yield of 2.58%. Devon Energy’s dividend payout ratio (DPR) is currently 21.05%.

Analysts Set New Price Targets

Several research firms recently issued reports on DVN. Wolfe Research upgraded Devon Energy from a “peer perform” rating to an “outperform” rating and set a $45.00 target price on the stock in a report on Friday, January 3rd. Cowen lowered Devon Energy to a “hold” rating and lowered their price target for the stock from $46.00 to $45.00 in a research report on Tuesday, February 18th. Citigroup dropped their price objective on Devon Energy from $55.00 to $48.00 and set a “buy” rating on the stock in a research note on Tuesday, November 26th. Wells Fargo & Company lowered their target price on shares of Devon Energy from $49.00 to $43.00 and set an “overweight” rating on the stock in a report on Tuesday, December 17th. Finally, StockNews.com raised shares of Devon Energy from a “sell” rating to a “hold” rating in a research report on Friday, January 3rd. Ten equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $48.87.

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.