Devon Energy Co. (NYSE:DVN) Shares Sold by Hoertkorn Richard Charles

Hoertkorn Richard Charles cut its stake in Devon Energy Co. (NYSE:DVN) by 2.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 125,037 shares of the energy company’s stock after selling 3,675 shares during the quarter. Devon Energy comprises about 1.7% of Hoertkorn Richard Charles’ investment portfolio, making the stock its 17th biggest position. Hoertkorn Richard Charles’ holdings in Devon Energy were worth $4,092,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in DVN. Great Valley Advisor Group Inc. lifted its position in shares of Devon Energy by 17.4% in the third quarter. Great Valley Advisor Group Inc. now owns 7,226 shares of the energy company’s stock worth $283,000 after purchasing an additional 1,073 shares in the last quarter. Cerity Partners LLC grew its position in shares of Devon Energy by 97.7% during the 3rd quarter. Cerity Partners LLC now owns 208,596 shares of the energy company’s stock worth $8,160,000 after buying an additional 103,094 shares during the period. Algert Global LLC increased its position in shares of Devon Energy by 15.5% in the 3rd quarter. Algert Global LLC now owns 11,229 shares of the energy company’s stock valued at $439,000 after buying an additional 1,510 shares in the last quarter. Daiwa Securities Group Inc. increased its holdings in Devon Energy by 18.2% during the 3rd quarter. Daiwa Securities Group Inc. now owns 92,700 shares of the energy company’s stock worth $3,627,000 after purchasing an additional 14,272 shares in the last quarter. Finally, Loomis Sayles & Co. L P grew its holdings in shares of Devon Energy by 1,365.8% in the 3rd quarter. Loomis Sayles & Co. L P now owns 14,321 shares of the energy company’s stock valued at $560,000 after acquiring an additional 13,344 shares in the last quarter. 69.72% of the stock is currently owned by institutional investors.

Devon Energy Price Performance

Shares of NYSE:DVN opened at $36.95 on Friday. Devon Energy Co. has a 1-year low of $30.39 and a 1-year high of $55.09. The business has a fifty day moving average price of $35.41 and a 200-day moving average price of $36.92. 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 $23.98 billion, a PE ratio of 8.10, a PEG ratio of 1.20 and a beta of 1.91.

Devon Energy (NYSE:DVN) last released its quarterly earnings data on Tuesday, February 18th. The energy company reported $1.16 EPS for the quarter, beating the consensus estimate of $1.00 by $0.16. The business had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.25 billion. Devon Energy had a net margin of 18.14% and a return on equity of 22.52%. As a group, equities analysts expect that Devon Energy Co. will post 4.85 EPS for the current fiscal 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 given 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 yield of 2.60%. Devon Energy’s dividend payout ratio is presently 21.05%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on DVN. Royal Bank of Canada reissued a “sector perform” rating and issued a $50.00 price target on shares of Devon Energy in a report on Friday, January 10th. Williams Trading set a $50.00 price target on Devon Energy in a research note on Wednesday, March 5th. Wells Fargo & Company lowered their price target 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. Benchmark reissued a “buy” rating and issued a $44.00 price objective on shares of Devon Energy in a research note on Thursday, February 20th. Finally, StockNews.com upgraded Devon Energy from a “sell” rating to a “hold” rating in a research note on Friday, January 3rd. Ten analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $48.29.

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.