Gulf International Bank UK Ltd Sells 15,513 Shares of Devon Energy Co. (NYSE:DVN)

Gulf International Bank UK Ltd lowered its stake in Devon Energy Co. (NYSE:DVN) by 27.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 40,909 shares of the energy company’s stock after selling 15,513 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Devon Energy were worth $1,338,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the business. Hazlett Burt & Watson Inc. grew its position in shares of Devon Energy by 29.8% during the third quarter. Hazlett Burt & Watson Inc. now owns 1,263 shares of the energy company’s stock worth $49,000 after purchasing an additional 290 shares in the last quarter. Sfmg LLC grew its position in shares of Devon Energy by 0.5% during the third quarter. Sfmg LLC now owns 64,871 shares of the energy company’s stock worth $2,538,000 after purchasing an additional 294 shares in the last quarter. Redwood Wealth Management Group LLC grew its holdings in Devon Energy by 3.9% during the 4th quarter. Redwood Wealth Management Group LLC now owns 8,141 shares of the energy company’s stock valued at $266,000 after buying an additional 309 shares in the last quarter. Cornerstone Wealth Management LLC grew its holdings in Devon Energy by 1.6% during the 4th quarter. Cornerstone Wealth Management LLC now owns 21,242 shares of the energy company’s stock valued at $695,000 after buying an additional 326 shares in the last quarter. Finally, Annex Advisory Services LLC grew its holdings in Devon Energy by 1.2% during the 4th quarter. Annex Advisory Services LLC now owns 27,021 shares of the energy company’s stock valued at $884,000 after buying an additional 327 shares in the last quarter. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on DVN shares. Royal Bank of Canada restated a “sector perform” rating and set a $50.00 price target on shares of Devon Energy in a report on Friday, January 10th. Mizuho dropped their target price on Devon Energy from $51.00 to $47.00 and set an “outperform” rating for the company in a report on Monday, December 16th. StockNews.com upgraded Devon Energy from a “sell” rating to a “hold” rating in a report on Friday, January 3rd. Susquehanna lifted their target price on Devon Energy from $50.00 to $52.00 and gave the stock a “positive” rating in a report on Thursday, February 20th. Finally, JPMorgan Chase & Co. cut Devon Energy from an “overweight” rating to a “neutral” rating and set a $43.00 target price for the company. in a report on Thursday, December 5th. Ten equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Devon Energy has a consensus rating of “Moderate Buy” and an average price target of $48.87.

Devon Energy Trading Up 1.0 %

Shares of NYSE DVN opened at $36.24 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.04 and a debt-to-equity ratio of 0.57. The business has a fifty day simple moving average of $34.94 and a two-hundred day simple moving average of $38.05. The firm has a market cap of $23.52 billion, a PE ratio of 7.95, a price-to-earnings-growth ratio of 1.20 and a beta of 1.98. Devon Energy Co. has a twelve month low of $30.39 and a twelve month high of $55.09.

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

Devon Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Friday, March 14th. This is an increase from Devon Energy’s previous quarterly dividend of $0.22. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.65%. Devon Energy’s dividend payout ratio (DPR) is currently 21.05%.

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.