Curi RMB Capital LLC Has $14.82 Million Holdings in Devon Energy Co. (NYSE:DVN)

Curi RMB Capital LLC decreased its stake in shares of Devon Energy Co. (NYSE:DVN) by 1.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 378,778 shares of the energy company’s stock after selling 4,858 shares during the quarter. Curi RMB Capital LLC owned about 0.06% of Devon Energy worth $14,818,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of DVN. Annex Advisory Services LLC raised its holdings in shares of Devon Energy by 0.8% during the second quarter. Annex Advisory Services LLC now owns 27,651 shares of the energy company’s stock valued at $1,311,000 after purchasing an additional 223 shares during the period. Versant Capital Management Inc boosted its holdings in Devon Energy by 30.4% in the second quarter. Versant Capital Management Inc now owns 970 shares of the energy company’s stock worth $46,000 after acquiring an additional 226 shares in the last quarter. Archer Investment Corp grew its stake in Devon Energy by 2.8% in the second quarter. Archer Investment Corp now owns 8,535 shares of the energy company’s stock valued at $405,000 after acquiring an additional 235 shares during the period. Citizens Financial Group Inc. RI increased its holdings in shares of Devon Energy by 2.6% during the first quarter. Citizens Financial Group Inc. RI now owns 9,480 shares of the energy company’s stock valued at $476,000 after acquiring an additional 236 shares in the last quarter. Finally, Institute for Wealth Management LLC. increased its holdings in shares of Devon Energy by 4.0% during the second quarter. Institute for Wealth Management LLC. now owns 6,234 shares of the energy company’s stock valued at $296,000 after acquiring an additional 237 shares in the last quarter. Institutional investors own 69.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on DVN shares. Wolfe Research began coverage on shares of Devon Energy in a research report on Thursday, July 18th. They issued a “peer perform” rating for the company. Jefferies Financial Group initiated coverage on shares of Devon Energy in a research report on Thursday, October 3rd. They set a “hold” rating and a $45.00 target price for the company. Raymond James dropped their price target on shares of Devon Energy from $58.00 to $51.00 in a research report on Tuesday, November 5th. BMO Capital Markets cut their price target on Devon Energy from $52.00 to $48.00 and set an “outperform” rating for the company in a research note on Friday, October 4th. Finally, Mizuho lowered their price objective on Devon Energy from $53.00 to $51.00 and set an “outperform” rating for the company in a research note on Wednesday, October 9th. One analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $51.80.

Devon Energy Price Performance

Devon Energy stock opened at $39.10 on Thursday. The company has a current ratio of 1.11, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. The business’s 50 day simple moving average is $40.20 and its 200 day simple moving average is $44.55. Devon Energy Co. has a 12 month low of $37.76 and a 12 month high of $55.09. The company has a market cap of $25.68 billion, a price-to-earnings ratio of 7.25, a PEG ratio of 1.19 and a beta of 2.03.

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, topping the consensus estimate of $1.09 by $0.01. Devon Energy had a return on equity of 24.73% and a net margin of 21.71%. The company had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $3.72 billion. During the same quarter in the prior year, the company earned $1.65 EPS. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. Sell-side analysts forecast that Devon Energy Co. will post 4.86 EPS for the current year.

Devon Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.88 annualized dividend and a dividend yield of 2.25%. 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.