GSA Capital Partners LLP Sells 103,703 Shares of Devon Energy Co. (NYSE:DVN)

GSA Capital Partners LLP reduced its holdings in Devon Energy Co. (NYSE:DVN) by 74.9% in the third quarter, HoldingsChannel reports. The firm owned 34,740 shares of the energy company’s stock after selling 103,703 shares during the period. GSA Capital Partners LLP’s holdings in Devon Energy were worth $1,359,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in DVN. Triad Wealth Partners LLC acquired a new stake in shares of Devon Energy during the 2nd quarter worth approximately $27,000. 1620 Investment Advisors Inc. bought a new position in Devon Energy during the second quarter worth $34,000. Capital Performance Advisors LLP acquired a new stake in Devon Energy in the third quarter worth $35,000. PSI Advisors LLC grew its holdings in Devon Energy by 66.7% in the second quarter. PSI Advisors LLC now owns 750 shares of the energy company’s stock worth $36,000 after purchasing an additional 300 shares during the period. Finally, LRI Investments LLC bought a new stake in Devon Energy in the first quarter valued at $39,000. 69.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

DVN has been the subject of several research reports. Benchmark restated a “hold” rating on shares of Devon Energy in a research note on Tuesday, October 15th. Royal Bank of Canada restated a “sector perform” rating and set a $57.00 price objective on shares of Devon Energy in a report on Tuesday, September 3rd. Scotiabank lowered their target price on Devon Energy from $60.00 to $48.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Evercore ISI reduced their price target on shares of Devon Energy from $55.00 to $50.00 and set an “in-line” rating for the company in a research report on Monday, September 30th. Finally, StockNews.com downgraded shares of Devon Energy from a “hold” rating to a “sell” rating in a report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $51.80.

Devon Energy Stock Up 2.0 %

Shares of NYSE:DVN opened at $39.10 on Thursday. The company has a market capitalization of $25.68 billion, a PE ratio of 7.25, a price-to-earnings-growth ratio of 1.19 and a beta of 2.03. Devon Energy Co. has a 1 year low of $37.76 and a 1 year high of $55.09. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.11 and a quick ratio of 1.01. The business has a fifty day moving average price of $40.20 and a two-hundred day moving average price of $44.55.

Devon Energy (NYSE:DVN) last posted its quarterly earnings results on Tuesday, November 5th. The energy company reported $1.10 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.01. The company had revenue of $4.02 billion during the quarter, compared to analyst estimates of $3.72 billion. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.65 earnings per share. Analysts forecast that Devon Energy Co. will post 4.86 earnings per share for the current year.

Devon Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be issued a $0.22 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.25%. Devon Energy’s dividend payout ratio (DPR) is presently 16.33%.

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.