Xponance Inc. Sells 44,561 Shares of Devon Energy Co. (NYSE:DVN)

Xponance Inc. reduced its stake in shares of Devon Energy Co. (NYSE:DVN) by 35.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 82,808 shares of the energy company’s stock after selling 44,561 shares during the quarter. Xponance Inc.’s holdings in Devon Energy were worth $2,710,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Cromwell Holdings LLC boosted its holdings in shares of Devon Energy by 98.0% during the fourth quarter. Cromwell Holdings LLC now owns 1,208 shares of the energy company’s stock worth $40,000 after purchasing an additional 598 shares during the period. Sierra Ocean LLC purchased a new stake in shares of Devon Energy during the fourth quarter worth about $43,000. True Wealth Design LLC boosted its holdings in shares of Devon Energy by 3,889.3% during the third quarter. True Wealth Design LLC now owns 1,117 shares of the energy company’s stock worth $44,000 after purchasing an additional 1,089 shares during the period. Endeavor Private Wealth Inc. purchased a new stake in shares of Devon Energy during the fourth quarter worth about $52,000. Finally, Thompson Investment Management Inc. boosted its holdings in shares of Devon Energy by 60.0% during the fourth quarter. Thompson Investment Management Inc. now owns 1,600 shares of the energy company’s stock worth $52,000 after purchasing an additional 600 shares during the period. 69.72% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Williams Trading set a $50.00 target price on shares of Devon Energy in a report on Wednesday, March 5th. Barclays raised their price objective on shares of Devon Energy from $43.00 to $44.00 and gave the stock an “equal weight” rating in a report on Thursday, February 20th. Mizuho lowered their price objective on shares of Devon Energy from $51.00 to $47.00 and set an “outperform” rating for the company in a report on Monday, December 16th. JPMorgan Chase & Co. lowered their price objective on shares of Devon Energy from $48.00 to $42.00 and set a “neutral” rating for the company in a report on Thursday, March 13th. Finally, Raymond James lowered their price objective on shares of Devon Energy from $54.00 to $46.00 and set an “outperform” rating for the company in a report on Monday, March 10th. Ten research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $48.46.

Devon Energy Trading Up 0.1 %

NYSE:DVN opened at $36.18 on Friday. The company has a current ratio of 1.04, a quick ratio of 1.01 and a debt-to-equity ratio of 0.57. Devon Energy Co. has a 12 month low of $30.39 and a 12 month high of $55.09. The company has a market cap 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. The company has a 50 day simple moving average of $35.46 and a two-hundred day simple moving average of $37.06.

Devon Energy (NYSE:DVN) last posted its earnings results on Tuesday, February 18th. The energy company reported $1.16 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $4.25 billion. Research analysts forecast that Devon Energy Co. will post 4.85 earnings per share for the current year.

Devon Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a dividend of $0.24 per share. This is a boost from Devon Energy’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.65%. Devon Energy’s payout ratio is 21.05%.

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.