Adamsbrown Wealth Consultants LLC Sells 338 Shares of Devon Energy Co. (NYSE:DVN)

Adamsbrown Wealth Consultants LLC trimmed its holdings in Devon Energy Co. (NYSE:DVN) by 3.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 9,547 shares of the energy company’s stock after selling 338 shares during the quarter. Adamsbrown Wealth Consultants LLC’s holdings in Devon Energy were worth $312,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Valley National Advisers Inc. raised its holdings in shares of Devon Energy by 2.0% in the fourth quarter. Valley National Advisers Inc. now owns 46,043 shares of the energy company’s stock valued at $1,506,000 after purchasing an additional 908 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. increased its holdings in Devon Energy by 11.1% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 24,015 shares of the energy company’s stock worth $786,000 after buying an additional 2,406 shares during the last quarter. Independence Bank of Kentucky increased its holdings in Devon Energy by 7.8% during the fourth quarter. Independence Bank of Kentucky now owns 4,580 shares of the energy company’s stock worth $150,000 after buying an additional 330 shares during the last quarter. Concord Wealth Partners increased its holdings in Devon Energy by 35.7% during the fourth quarter. Concord Wealth Partners now owns 13,142 shares of the energy company’s stock worth $430,000 after buying an additional 3,458 shares during the last quarter. Finally, Concord Asset Management LLC VA increased its holdings in Devon Energy by 33.3% during the fourth quarter. Concord Asset Management LLC VA now owns 13,142 shares of the energy company’s stock worth $430,000 after buying an additional 3,281 shares during the last quarter. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on DVN shares. Citigroup decreased their price objective on shares of Devon Energy from $55.00 to $48.00 and set a “buy” rating for the company in a report on Tuesday, November 26th. Benchmark upgraded shares of Devon Energy from a “hold” rating to a “buy” rating and set a $44.00 price objective for the company in a report on Tuesday, January 14th. StockNews.com upgraded shares of Devon Energy from a “sell” rating to a “hold” rating in a report on Friday, January 3rd. Wolfe Research upgraded shares of Devon Energy from a “peer perform” rating to an “outperform” rating and set a $45.00 target price for the company in a research note on Friday, January 3rd. Finally, Piper Sandler lifted their target price on shares of Devon Energy from $53.00 to $54.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. 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, the company currently has an average rating of “Moderate Buy” and an average price target of $49.45.

Devon Energy Stock Down 2.7 %

Shares of DVN opened at $34.09 on Monday. The firm has a market cap of $22.39 billion, a P/E ratio of 6.32, a P/E/G ratio of 1.10 and a beta of 2.00. The stock has a 50 day simple moving average of $34.89 and a two-hundred day simple moving average of $39.41. 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 Co. has a 1 year low of $30.39 and a 1 year high of $55.09.

Devon Energy (NYSE:DVN) last issued its 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. The business had revenue of $4.02 billion during 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%. Devon Energy’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.65 earnings per share. On average, analysts forecast that Devon Energy Co. will post 4.68 earnings per share for the current fiscal year.

Devon Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Friday, December 13th were paid a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 2.58%. The ex-dividend date was Friday, December 13th. Devon Energy’s dividend payout ratio is currently 16.33%.

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.