Yacktman Asset Management LP Sells 121,243 Shares of Devon Energy Corporation $DVN

Yacktman Asset Management LP lessened its stake in Devon Energy Corporation (NYSE:DVN) by 18.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 521,166 shares of the energy company’s stock after selling 121,243 shares during the period. Yacktman Asset Management LP owned about 0.08% of Devon Energy worth $18,272,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Caldwell Trust Co bought a new position in shares of Devon Energy in the second quarter worth approximately $25,000. PFS Partners LLC purchased a new stake in Devon Energy during the 3rd quarter valued at $25,000. First Horizon Corp bought a new stake in Devon Energy in the 3rd quarter worth $26,000. ORG Partners LLC increased its position in shares of Devon Energy by 65.7% in the third quarter. ORG Partners LLC now owns 888 shares of the energy company’s stock valued at $31,000 after acquiring an additional 352 shares during the period. Finally, FNY Investment Advisers LLC purchased a new position in shares of Devon Energy in the second quarter valued at about $34,000. 69.72% of the stock is currently owned by institutional investors.

Devon Energy Stock Up 0.5%

NYSE:DVN opened at $40.14 on Monday. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.96 and a quick ratio of 0.87. The firm’s 50-day moving average price is $36.99 and its 200-day moving average price is $35.04. The company has a market capitalization of $25.18 billion, a PE ratio of 9.44, a P/E/G ratio of 3.66 and a beta of 0.61. Devon Energy Corporation has a 1-year low of $25.89 and a 1-year high of $41.31.

Devon Energy (NYSE:DVN) last posted its quarterly earnings data on Wednesday, November 5th. The energy company reported $1.04 EPS for the quarter, topping the consensus estimate of $0.93 by $0.11. The business had revenue of $0.00 million for the quarter, compared to analyst estimates of $4.10 billion. Devon Energy had a net margin of 15.56% and a return on equity of 18.14%. During the same quarter in the previous year, the firm posted $1.10 earnings per share. On average, equities analysts predict that Devon Energy Corporation will post 4.85 EPS for the current fiscal year.

Devon Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 30th. Investors of record on Monday, December 15th were paid a $0.24 dividend. The ex-dividend date was Monday, December 15th. This represents a $0.96 annualized dividend and a dividend yield of 2.4%. Devon Energy’s dividend payout ratio is presently 22.59%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. JPMorgan Chase & Co. cut their target price on Devon Energy from $44.00 to $41.00 and set an “overweight” rating on the stock in a research note on Thursday, January 15th. Piper Sandler reduced their target price on Devon Energy from $57.00 to $55.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 18th. Weiss Ratings raised Devon Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday. Roth Mkm reiterated a “buy” rating and issued a $42.00 price target on shares of Devon Energy in a report on Wednesday, December 31st. Finally, BMO Capital Markets decreased their price objective on shares of Devon Energy from $48.00 to $45.00 and set an “outperform” rating for the company in a report on Monday, January 12th. One analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $44.76.

About Devon Energy

Devon Energy Corporation (NYSE: DVN) is an independent oil and gas exploration and production company headquartered in Oklahoma City, Oklahoma. The company focuses on the exploration, development, production and marketing of hydrocarbons, including crude oil, natural gas liquids (NGLs) and natural gas. Devon operates as an upstream energy company that acquires, evaluates and develops onshore resource plays using a combination of drilling, completion and production optimization techniques.

Core business activities include identifying and developing energy reserves, operating well programs and managing reservoir performance to generate production and cash flow.