Devon Energy Co. (NYSE:DVN) Shares Sold by Accurate Wealth Management LLC

Accurate Wealth Management LLC trimmed its position in Devon Energy Co. (NYSE:DVN) by 5.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 31,235 shares of the energy company’s stock after selling 1,710 shares during the period. Accurate Wealth Management LLC’s holdings in Devon Energy were worth $1,124,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. EnCap Energy Capital Fund XI L.P. purchased a new stake in Devon Energy in the third quarter valued at approximately $461,857,000. EnCap Partners GP LLC acquired a new stake in Devon Energy during the 3rd quarter valued at approximately $408,653,000. EnCap Energy Capital Fund X L.P. purchased a new stake in shares of Devon Energy in the 3rd quarter valued at $230,928,000. International Assets Investment Management LLC increased its stake in shares of Devon Energy by 4,125.7% in the third quarter. International Assets Investment Management LLC now owns 2,280,961 shares of the energy company’s stock worth $89,231,000 after acquiring an additional 2,226,983 shares during the period. Finally, Pacer Advisors Inc. increased its stake in shares of Devon Energy by 16.9% in the third quarter. Pacer Advisors Inc. now owns 11,591,168 shares of the energy company’s stock worth $453,446,000 after acquiring an additional 1,677,652 shares during the period. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on DVN. Truist Financial lowered their price target on shares of Devon Energy from $43.00 to $42.00 and set a “hold” rating on the stock in a report on Monday. Jefferies Financial Group assumed coverage on Devon Energy in a research note on Thursday, October 3rd. They issued a “hold” rating and a $45.00 target price on the stock. Scotiabank reduced their price target on Devon Energy from $60.00 to $48.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. UBS Group lowered their price objective on Devon Energy from $53.00 to $47.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 18th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $50.00 target price on shares of Devon Energy in a report on Friday, January 10th. Ten investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $49.18.

Devon Energy Price Performance

NYSE:DVN opened at $37.22 on Wednesday. The firm has a market cap of $24.45 billion, a P/E ratio of 6.91, a price-to-earnings-growth ratio of 1.07 and a beta of 2.00. The stock has a 50 day moving average of $35.58 and a two-hundred day moving average of $40.49. Devon Energy Co. has a 12 month low of $30.39 and a 12 month high of $55.09. The company has a current ratio of 1.11, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61.

Devon Energy (NYSE:DVN) last posted its quarterly earnings data on Tuesday, November 5th. The energy company reported $1.10 EPS for the quarter, beating 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 firm had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $3.72 billion. During the same period in the prior year, the company earned $1.65 EPS. The firm’s revenue was up 4.9% compared to the same quarter last year. On average, analysts expect that Devon Energy Co. will post 4.79 earnings per share for the current fiscal year.

Devon Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Friday, December 13th were paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.36%. The ex-dividend date was Friday, December 13th. Devon Energy’s dividend payout ratio is currently 16.33%.

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.