Devon Energy Co. (NYSE:DVN) Shares Sold by Delta Capital Management LLC

Delta Capital Management LLC decreased its stake in Devon Energy Co. (NYSE:DVN) by 19.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 37,060 shares of the energy company’s stock after selling 8,750 shares during the quarter. Delta Capital Management LLC’s holdings in Devon Energy were worth $1,213,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Clarius Group LLC purchased a new position in Devon Energy during the fourth quarter worth approximately $558,000. Riversedge Advisors LLC lifted its position in shares of Devon Energy by 13.5% in the fourth quarter. Riversedge Advisors LLC now owns 8,330 shares of the energy company’s stock valued at $273,000 after acquiring an additional 994 shares in the last quarter. HB Wealth Management LLC lifted its holdings in Devon Energy by 3.8% in the 4th quarter. HB Wealth Management LLC now owns 16,043 shares of the energy company’s stock valued at $525,000 after purchasing an additional 594 shares in the last quarter. Value Holdings Management CO. LLC boosted its position in Devon Energy by 200.0% during the fourth quarter. Value Holdings Management CO. LLC now owns 63,000 shares of the energy company’s stock worth $2,062,000 after acquiring an additional 42,000 shares during the last quarter. Finally, Lummis Asset Management LP grew its stake in Devon Energy by 2.3% during the 4th quarter. Lummis Asset Management LP now owns 31,429 shares of the energy company’s stock valued at $1,029,000 after acquiring an additional 693 shares in the last quarter. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Devon Energy Trading Down 1.2 %

NYSE DVN opened at $37.98 on Friday. The firm’s fifty day moving average is $35.48 and its two-hundred day moving average is $40.27. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.11. The firm has a market cap of $24.95 billion, a PE ratio of 7.05, a P/E/G ratio of 1.14 and a beta of 2.00. Devon Energy Co. has a one year low of $30.39 and a one year high of $55.09.

Devon Energy (NYSE:DVN) last released its earnings results on Tuesday, November 5th. The energy company reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.09 by $0.01. The business had revenue of $4.02 billion for the quarter, compared to analyst estimates of $3.72 billion. Devon Energy had a return on equity of 24.73% and a net margin of 21.71%. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.65 earnings per share. Analysts expect that Devon Energy Co. will post 4.72 earnings per share for the current year.

Devon Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Friday, December 13th were paid a dividend of $0.22 per share. The ex-dividend date was Friday, December 13th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.32%. Devon Energy’s dividend payout ratio (DPR) is 16.33%.

Wall Street Analysts Forecast Growth

DVN has been the subject of several analyst reports. Benchmark upgraded Devon Energy from a “hold” rating to a “buy” rating and set a $44.00 target price for the company in a report on Tuesday, January 14th. Wells Fargo & Company lowered their target price on shares of Devon Energy from $49.00 to $43.00 and set an “overweight” rating for the company in a research note on Tuesday, December 17th. Jefferies Financial Group started coverage on Devon Energy in a research note on Thursday, October 3rd. They issued a “hold” rating and a $45.00 price objective for the company. BMO Capital Markets cut their price target on shares of Devon Energy from $52.00 to $48.00 and set an “outperform” rating on the stock in a research note on Friday, October 4th. Finally, StockNews.com upgraded Devon Energy from a “sell” rating to a “hold” rating in a research note on Friday, January 3rd. Nine analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $49.27.

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.