Devon Energy Corporation $DVN Shares Sold by Stonebrook Private Inc.

Stonebrook Private Inc. lowered its stake in shares of Devon Energy Corporation (NYSE:DVN) by 28.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,628 shares of the energy company’s stock after selling 2,580 shares during the quarter. Stonebrook Private Inc.’s holdings in Devon Energy were worth $211,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. TD Asset Management Inc grew its stake in Devon Energy by 6.4% during the 2nd quarter. TD Asset Management Inc now owns 267,322 shares of the energy company’s stock valued at $8,504,000 after purchasing an additional 16,106 shares during the last quarter. Savvy Advisors Inc. purchased a new position in shares of Devon Energy in the first quarter worth about $384,000. Harvest Fund Management Co. Ltd acquired a new stake in shares of Devon Energy during the first quarter worth about $515,000. Stephens Inc. AR boosted its position in Devon Energy by 90.4% in the second quarter. Stephens Inc. AR now owns 72,546 shares of the energy company’s stock valued at $2,308,000 after buying an additional 34,448 shares during the last quarter. Finally, Scott & Selber Inc. acquired a new position in Devon Energy in the 2nd quarter worth approximately $2,455,000. 69.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have commented on the stock. Royal Bank Of Canada set a $42.00 price objective on shares of Devon Energy and gave the company a “sector perform” rating in a research note on Friday, October 10th. William Blair initiated coverage on shares of Devon Energy in a research report on Monday, August 25th. They set an “outperform” rating for the company. Barclays cut their price target on Devon Energy from $42.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 7th. Scotiabank reissued an “outperform” rating on shares of Devon Energy in a report on Thursday, October 9th. Finally, Wells Fargo & Company lowered their target price on Devon Energy from $43.00 to $37.00 and set an “overweight” rating on the stock in a research note on Friday, October 17th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Devon Energy presently has an average rating of “Moderate Buy” and a consensus target price of $43.79.

Devon Energy Price Performance

NYSE:DVN opened at $35.31 on Thursday. The company has a quick ratio of 1.13, a current ratio of 1.22 and a debt-to-equity ratio of 0.55. Devon Energy Corporation has a 52 week low of $25.89 and a 52 week high of $39.65. The stock’s 50-day moving average price is $33.96 and its 200-day moving average price is $33.48. The stock has a market capitalization of $22.15 billion, a PE ratio of 7.92, a price-to-earnings-growth ratio of 2.49 and a beta of 1.01.

Devon Energy (NYSE:DVN) last issued its quarterly earnings results on Wednesday, November 5th. The energy company reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.11. Devon Energy had a return on equity of 18.59% and a net margin of 16.57%.The company had revenue of $0.00 million for the quarter, compared to the consensus estimate of $4.10 billion. During the same quarter in the prior year, the business posted $1.10 earnings per share. As a group, equities analysts expect that Devon Energy Corporation will post 4.85 EPS for the current fiscal year.

Devon Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Monday, December 15th will be given a dividend of $0.24 per share. The ex-dividend date is Monday, December 15th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.7%. Devon Energy’s dividend payout ratio (DPR) is 22.59%.

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.