Devon Energy Co. (NYSE:DVN) Shares Sold by Tidal Investments LLC

Tidal Investments LLC decreased its holdings in Devon Energy Co. (NYSE:DVN) by 26.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 77,253 shares of the energy company’s stock after selling 28,294 shares during the quarter. Tidal Investments LLC’s holdings in Devon Energy were worth $3,022,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. 1620 Investment Advisors Inc. acquired a new position in shares of Devon Energy in the 2nd quarter worth $34,000. Capital Performance Advisors LLP acquired a new position in shares of Devon Energy in the 3rd quarter valued at $35,000. PSI Advisors LLC increased its stake in Devon Energy by 66.7% in the 2nd quarter. PSI Advisors LLC now owns 750 shares of the energy company’s stock worth $36,000 after purchasing an additional 300 shares in the last quarter. Future Financial Wealth Managment LLC acquired a new stake in Devon Energy during the 3rd quarter worth about $39,000. Finally, True Wealth Design LLC lifted its stake in 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 valued at $44,000 after buying an additional 1,089 shares in the last quarter. Institutional investors own 69.72% of the company’s stock.

Devon Energy Trading Down 0.1 %

Shares of NYSE:DVN opened at $33.88 on Friday. The company has a current ratio of 1.11, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $22.26 billion, a PE ratio of 6.29, a P/E/G ratio of 1.10 and a beta of 1.99. Devon Energy Co. has a 1 year low of $33.39 and a 1 year high of $55.09. The firm has a fifty day moving average price of $38.75 and a 200 day moving average price of $42.57.

Devon Energy (NYSE:DVN) last released its quarterly earnings results on Tuesday, November 5th. The energy company reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $0.01. Devon Energy had a return on equity of 24.73% and a net margin of 21.71%. The company had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $3.72 billion. During the same quarter in the prior year, the company posted $1.65 EPS. The firm’s revenue was up 4.9% on a year-over-year basis. Analysts expect that Devon Energy Co. will post 4.79 EPS for the current fiscal year.

Devon Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date of this dividend is Friday, December 13th. Devon Energy’s dividend payout ratio is 16.33%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on DVN shares. Susquehanna dropped their target price on shares of Devon Energy from $63.00 to $62.00 and set a “positive” rating on the stock in a research report on Friday, October 18th. Jefferies Financial Group started coverage on shares of Devon Energy in a research note on Thursday, October 3rd. They set a “hold” rating and a $45.00 target price on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $57.00 target price on shares of Devon Energy in a research report on Tuesday, September 3rd. Barclays dropped their price target on Devon Energy from $55.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 3rd. Finally, Citigroup decreased their price objective on Devon Energy from $55.00 to $48.00 and set a “buy” rating for the company in a research report on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, Devon Energy presently has a consensus rating of “Hold” and an average price target of $50.75.

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.