Teamwork Financial Advisors LLC Sells 3,458 Shares of Devon Energy Co. (NYSE:DVN)

Teamwork Financial Advisors LLC lowered its position in shares of Devon Energy Co. (NYSE:DVN) by 26.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,775 shares of the energy company’s stock after selling 3,458 shares during the period. Teamwork Financial Advisors LLC’s holdings in Devon Energy were worth $320,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Capital Performance Advisors LLP acquired a new stake in shares of Devon Energy during the third quarter worth $35,000. Future Financial Wealth Managment LLC bought a new position in Devon Energy during the third quarter worth about $39,000. True Wealth Design LLC raised its stake in Devon Energy by 3,889.3% in the 3rd quarter. True Wealth Design LLC now owns 1,117 shares of the energy company’s stock worth $44,000 after purchasing an additional 1,089 shares in the last quarter. Hazlett Burt & Watson Inc. boosted its holdings in Devon Energy by 29.8% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 1,263 shares of the energy company’s stock valued at $49,000 after purchasing an additional 290 shares during the period. Finally, Activest Wealth Management grew its position in shares of Devon Energy by 60.4% during the 3rd quarter. Activest Wealth Management now owns 1,275 shares of the energy company’s stock worth $50,000 after purchasing an additional 480 shares in the last quarter. 69.72% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

DVN has been the topic of a number of analyst reports. JPMorgan Chase & Co. downgraded Devon Energy from an “overweight” rating to a “neutral” rating and set a $43.00 price target on the stock. in a research report on Thursday, December 5th. Wolfe Research upgraded Devon Energy from a “peer perform” rating to an “outperform” rating and set a $45.00 price target on the stock in a research report on Friday, January 3rd. Scotiabank cut their price objective on shares of Devon Energy from $60.00 to $48.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Piper Sandler decreased their target price on shares of Devon Energy from $57.00 to $53.00 and set an “overweight” rating on the stock in a report on Tuesday, December 17th. Finally, BMO Capital Markets cut their price target on shares of Devon Energy from $52.00 to $48.00 and set an “outperform” rating for the company in a report on Friday, October 4th. Nine investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, Devon Energy has an average rating of “Moderate Buy” and a consensus target price of $49.27.

Devon Energy Trading Down 0.7 %

Shares of DVN stock opened at $36.46 on Thursday. Devon Energy Co. has a 1-year low of $30.39 and a 1-year high of $55.09. 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 50-day moving average of $35.37 and a 200-day moving average of $40.05. The stock has a market cap of $23.95 billion, a price-to-earnings ratio of 6.76, a PEG ratio of 1.22 and a beta of 2.00.

Devon Energy (NYSE:DVN) last issued its quarterly earnings results on Tuesday, November 5th. The energy company reported $1.10 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 analysts’ expectations of $3.72 billion. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.65 earnings per share. On average, equities research analysts forecast that Devon Energy Co. will post 4.68 earnings per share for the current year.

Devon Energy Announces Dividend

The firm also recently declared 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 2.41%. The ex-dividend date was Friday, December 13th. Devon Energy’s dividend payout ratio (DPR) is presently 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.