Devon Energy Co. (NYSE:DVN) Shares Sold by Dumont & Blake Investment Advisors LLC

Dumont & Blake Investment Advisors LLC reduced its position in shares of Devon Energy Co. (NYSE:DVN) by 50.1% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 26,541 shares of the energy company’s stock after selling 26,687 shares during the period. Dumont & Blake Investment Advisors LLC’s holdings in Devon Energy were worth $1,038,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in DVN. Triad Wealth Partners LLC acquired a new position in shares of Devon Energy in the 2nd quarter worth approximately $27,000. Tradewinds Capital Management LLC purchased a new stake in shares of Devon Energy during the 1st quarter worth $30,000. 1620 Investment Advisors Inc. acquired a new position in shares of Devon Energy during the 2nd quarter worth about $34,000. PSI Advisors LLC grew its stake in Devon Energy by 66.7% during the 2nd quarter. PSI Advisors LLC now owns 750 shares of the energy company’s stock worth $36,000 after buying an additional 300 shares during the last quarter. Finally, LRI Investments LLC acquired a new position in Devon Energy in the first quarter valued at $39,000. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Devon Energy Trading Up 0.6 %

Shares of NYSE:DVN traded up $0.24 during mid-day trading on Friday, reaching $39.75. The stock had a trading volume of 97,535 shares, compared to its average volume of 7,292,435. The firm has a market cap of $25.12 billion, a PE ratio of 7.54, a price-to-earnings-growth ratio of 1.27 and a beta of 2.02. The firm has a 50 day simple moving average of $41.74 and a two-hundred day simple moving average of $45.96. The company has a current ratio of 1.11, a quick ratio of 1.03 and a debt-to-equity ratio of 0.45. Devon Energy Co. has a twelve month low of $37.76 and a twelve month high of $55.09.

Devon Energy (NYSE:DVN) last announced its quarterly earnings results on Tuesday, August 6th. The energy company reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.15. Devon Energy had a return on equity of 29.14% and a net margin of 22.60%. The company had revenue of $3.92 billion during the quarter, compared to the consensus estimate of $3.90 billion. During the same period in the prior year, the company earned $1.18 earnings per share. The company’s revenue for the quarter was up 13.4% compared to the same quarter last year. On average, research analysts predict that Devon Energy Co. will post 5.01 EPS for the current fiscal year.

Devon Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were issued a dividend of $0.22 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.21%. Devon Energy’s payout ratio is presently 16.79%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. UBS Group lowered their price target on shares of Devon Energy from $53.00 to $47.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 18th. Evercore ISI reduced their target price on shares of Devon Energy from $55.00 to $50.00 and set an “in-line” rating on the stock in a report on Monday, September 30th. Piper Sandler cut their price objective on shares of Devon Energy from $57.00 to $56.00 and set an “overweight” rating on the stock in a report on Tuesday, October 15th. JPMorgan Chase & Co. decreased their price target on shares of Devon Energy from $64.00 to $51.00 and set an “overweight” rating for the company in a research report on Thursday, September 12th. Finally, Susquehanna decreased their price objective on shares of Devon Energy from $63.00 to $62.00 and set a “positive” rating for the company in a report on Friday, October 18th. Nine equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $52.53.

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.