Trust Investment Advisors Has $719,000 Stake in Devon Energy Co. (NYSE:DVN)

Trust Investment Advisors reduced its position in Devon Energy Co. (NYSE:DVN) by 19.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 15,873 shares of the energy company’s stock after selling 3,829 shares during the quarter. Trust Investment Advisors’ holdings in Devon Energy were worth $719,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. AlphaCrest Capital Management LLC acquired a new stake in Devon Energy during the 1st quarter worth about $364,000. Acadian Asset Management LLC bought a new stake in Devon Energy in the first quarter worth approximately $188,000. Blair William & Co. IL boosted its holdings in shares of Devon Energy by 52.1% during the 1st quarter. Blair William & Co. IL now owns 99,120 shares of the energy company’s stock worth $5,861,000 after buying an additional 33,936 shares in the last quarter. Sei Investments Co. grew its position in shares of Devon Energy by 9.2% during the 1st quarter. Sei Investments Co. now owns 414,354 shares of the energy company’s stock worth $24,500,000 after buying an additional 34,870 shares during the period. Finally, Canada Pension Plan Investment Board bought a new stake in shares of Devon Energy in the 1st quarter valued at $26,000. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Devon Energy Stock Down 0.5 %

DVN stock traded down $0.24 during trading on Thursday, reaching $51.43. The stock had a trading volume of 4,864,248 shares, compared to its average volume of 8,040,157. The company has a quick ratio of 0.99, a current ratio of 1.07 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $32.66 billion, a price-to-earnings ratio of 8.89 and a beta of 2.19. Devon Energy Co. has a one year low of $40.47 and a one year high of $55.09. The company’s 50 day moving average is $47.51 and its two-hundred day moving average is $45.82.

Devon Energy (NYSE:DVN) last released its earnings results on Tuesday, February 27th. The energy company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.02. The company had revenue of $4.15 billion during the quarter, compared to analyst estimates of $3.88 billion. Devon Energy had a return on equity of 31.72% and a net margin of 24.56%. Devon Energy’s quarterly revenue was down 3.6% on a year-over-year basis. During the same period in the prior year, the company posted $1.66 earnings per share. Equities research analysts forecast that Devon Energy Co. will post 5.14 EPS for the current year.

Devon Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.42%. The ex-dividend date of this dividend was Thursday, March 14th. Devon Energy’s payout ratio is 15.09%.

Analyst Upgrades and Downgrades

A number of research firms have commented on DVN. Wells Fargo & Company upgraded shares of Devon Energy from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $46.00 to $59.00 in a report on Monday, April 1st. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $55.00 target price on shares of Devon Energy in a research report on Thursday, March 7th. JPMorgan Chase & Co. increased their price target on Devon Energy from $57.00 to $62.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. UBS Group boosted their price objective on Devon Energy from $48.00 to $57.00 and gave the company a “neutral” rating in a report on Wednesday, April 10th. Finally, Truist Financial cut their target price on Devon Energy from $69.00 to $66.00 and set a “buy” rating on the stock in a report on Friday, April 5th. Five investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $57.89.

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.