Harbour Investments Inc. Has $233,000 Position in Devon Energy Co. (NYSE:DVN)

Harbour Investments Inc. reduced its holdings in Devon Energy Co. (NYSE:DVN) by 38.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 7,111 shares of the energy company’s stock after selling 4,461 shares during the quarter. Harbour Investments Inc.’s holdings in Devon Energy were worth $233,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in DVN. Sfmg LLC raised its position in Devon Energy by 0.5% in the 3rd quarter. Sfmg LLC now owns 64,871 shares of the energy company’s stock worth $2,538,000 after purchasing an additional 294 shares during 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 worth $266,000 after acquiring an additional 309 shares during the period. 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 worth $695,000 after acquiring an additional 326 shares during the period. 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 worth $884,000 after acquiring an additional 327 shares during the period. Finally, Fiduciary Trust Co grew its holdings in Devon Energy by 3.1% during the 3rd quarter. Fiduciary Trust Co now owns 11,074 shares of the energy company’s stock worth $433,000 after acquiring an additional 329 shares during the period. 69.72% of the stock is owned by institutional investors and hedge funds.

Devon Energy Trading Up 0.1 %

Shares of NYSE:DVN opened at $36.18 on Friday. The company’s 50-day moving average price is $35.46 and its two-hundred day moving average price is $37.06. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 1.01. Devon Energy Co. has a one year low of $30.39 and a one year high of $55.09. The stock has a market capitalization of $23.48 billion, a PE ratio of 7.93, a price-to-earnings-growth ratio of 1.20 and a beta of 1.91.

Devon Energy (NYSE:DVN) last issued its quarterly earnings results on Tuesday, February 18th. The energy company reported $1.16 EPS for the quarter, topping 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 firm had revenue of $4.40 billion for the quarter, compared to analysts’ expectations of $4.25 billion. On average, equities analysts forecast that Devon Energy Co. will post 4.85 EPS for the current fiscal year.

Devon Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend 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 yield of 2.65%. Devon Energy’s payout ratio is 21.05%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on DVN. Cowen lowered shares of Devon Energy to a “hold” rating and lowered their target price for the stock from $46.00 to $45.00 in a report on Tuesday, February 18th. Wells Fargo & Company lowered their target price on shares of Devon Energy from $49.00 to $43.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th. Williams Trading set a $50.00 target price on shares of Devon Energy in a report on Wednesday, March 5th. Benchmark reaffirmed a “buy” rating and set a $44.00 target price on shares of Devon Energy in a report on Thursday, February 20th. Finally, Barclays boosted their price target on shares of Devon Energy from $43.00 to $44.00 and gave the company an “equal weight” rating in a report on Thursday, February 20th. Ten research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, Devon Energy has an average rating of “Moderate Buy” and a consensus price target of $48.46.

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.