Devon Energy Co. (NYSE:DVN) Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lowered its position in shares of Devon Energy Co. (NYSE:DVN) by 0.2% in the third quarter, Holdings Channel reports. The firm owned 1,642,763 shares of the energy company’s stock after selling 3,374 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Devon Energy were worth $64,265,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. William B. Walkup & Associates Inc. acquired a new position in Devon Energy during the second quarter valued at approximately $1,026,000. Gordian Capital Singapore Pte Ltd acquired a new position in shares of Devon Energy during the 2nd quarter valued at $711,000. Nations Financial Group Inc. IA ADV purchased a new stake in Devon Energy during the 3rd quarter worth $592,000. New York State Teachers Retirement System increased its holdings in Devon Energy by 14.2% in the 3rd quarter. New York State Teachers Retirement System now owns 704,831 shares of the energy company’s stock valued at $27,573,000 after purchasing an additional 87,462 shares in the last quarter. Finally, CWM LLC raised its position in Devon Energy by 73.4% in the third quarter. CWM LLC now owns 38,969 shares of the energy company’s stock valued at $1,524,000 after purchasing an additional 16,490 shares during the period. Institutional investors and hedge funds own 69.72% of the company’s stock.

Devon Energy Stock Up 0.6 %

DVN stock opened at $39.36 on Friday. The firm has a market cap of $25.86 billion, a price-to-earnings ratio of 7.30, a PEG 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 firm has a fifty day moving average price of $40.15 and a two-hundred day moving average price of $44.52. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.11 and a quick ratio of 1.01.

Devon Energy (NYSE:DVN) last announced its quarterly earnings data on Tuesday, November 5th. The energy company reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates of $1.09 by $0.01. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%. The business 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 firm earned $1.65 EPS. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. Research analysts predict that Devon Energy Co. will post 4.86 EPS 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. This represents a $0.88 annualized dividend and a dividend yield of 2.24%. The ex-dividend date of this dividend is Friday, December 13th. Devon Energy’s dividend payout ratio (DPR) is 16.33%.

Analysts Set New Price Targets

DVN has been the subject of several analyst reports. JPMorgan Chase & Co. decreased their target price on Devon Energy from $64.00 to $51.00 and set an “overweight” rating for the company in a research report on Thursday, September 12th. Evercore ISI lowered their price objective 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. UBS Group reduced their target price on shares of Devon Energy from $53.00 to $47.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 18th. Scotiabank lowered their price target on shares of Devon Energy from $60.00 to $48.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Finally, Wells Fargo & Company cut their price objective on shares of Devon Energy from $50.00 to $49.00 and set an “overweight” rating on the stock 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. According to data from MarketBeat.com, Devon Energy presently has an average rating of “Hold” and a consensus price target of $51.80.

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.