Devon Energy Co. (NYSE:DVN) Shares Sold by Bernzott Capital Advisors

Bernzott Capital Advisors lowered its stake in shares of Devon Energy Co. (NYSE:DVN) by 11.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 117,157 shares of the energy company’s stock after selling 14,775 shares during the quarter. Bernzott Capital Advisors’ holdings in Devon Energy were worth $3,835,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Paragon Capital Management Ltd boosted its position in Devon Energy by 2.7% during the 4th quarter. Paragon Capital Management Ltd now owns 15,439 shares of the energy company’s stock valued at $505,000 after purchasing an additional 400 shares during the period. Stolper Co boosted its position in Devon Energy by 2.3% during the 4th quarter. Stolper Co now owns 134,255 shares of the energy company’s stock valued at $4,394,000 after purchasing an additional 3,029 shares during the period. Cliftonlarsonallen Wealth Advisors LLC boosted its position in Devon Energy by 0.6% during the 4th quarter. Cliftonlarsonallen Wealth Advisors LLC now owns 98,546 shares of the energy company’s stock worth $3,225,000 after acquiring an additional 572 shares during the period. Smith Anglin Financial LLC acquired a new position in Devon Energy during the 4th quarter worth $228,000. Finally, Foundation Resource Management Inc. boosted its position in Devon Energy by 2.3% during the 4th quarter. Foundation Resource Management Inc. now owns 87,739 shares of the energy company’s stock worth $2,872,000 after acquiring an additional 1,957 shares during the period. Institutional investors and hedge funds own 69.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on DVN shares. Truist Financial reduced their price target on Devon Energy from $43.00 to $42.00 and set a “hold” rating for the company in a research report on Monday. Benchmark upgraded Devon Energy from a “hold” rating to a “buy” rating and set a $44.00 price target for the company in a research report on Tuesday. Raymond James reduced their price target on Devon Energy from $58.00 to $51.00 in a research report on Tuesday, November 5th. Scotiabank dropped their price objective on Devon Energy from $60.00 to $48.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Finally, Wells Fargo & Company dropped their price objective on Devon Energy from $49.00 to $43.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 17th. Nine investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $49.27.

Devon Energy Stock Down 0.0 %

Shares of Devon Energy stock opened at $38.42 on Friday. The stock’s fifty day moving average is $35.50 and its 200-day moving average is $40.40. The firm has a market capitalization of $25.24 billion, a PE ratio of 7.13, a price-to-earnings-growth ratio of 1.14 and a beta of 2.00. The company has a quick ratio of 1.01, a current ratio of 1.11 and a debt-to-equity ratio of 0.61. Devon Energy Co. has a 12-month low of $30.39 and a 12-month high of $55.09.

Devon Energy (NYSE:DVN) last posted its quarterly earnings results on Tuesday, November 5th. The energy company reported $1.10 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.01. The firm had revenue of $4.02 billion for the quarter, compared to analyst estimates of $3.72 billion. Devon Energy had a return on equity of 24.73% and a net margin of 21.71%. Devon Energy’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.65 earnings per share. Equities analysts anticipate that Devon Energy Co. will post 4.72 earnings per share for the current year.

Devon Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Friday, December 13th were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.29%. The ex-dividend date was Friday, December 13th. Devon Energy’s payout ratio is 16.33%.

About Devon Energy

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.