Devon Energy Co. (NYSE:DVN) Shares Sold by Meridian Wealth Advisors LLC

Meridian Wealth Advisors LLC decreased its position in Devon Energy Co. (NYSE:DVN) by 89.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,478 shares of the energy company’s stock after selling 76,759 shares during the quarter. Meridian Wealth Advisors LLC’s holdings in Devon Energy were worth $310,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Sfmg LLC grew its position in Devon Energy by 0.5% in the third quarter. Sfmg LLC now owns 64,871 shares of the energy company’s stock valued at $2,538,000 after acquiring an additional 294 shares in the last quarter. Redwood Wealth Management Group LLC increased its holdings in Devon Energy by 3.9% during the 4th quarter. Redwood Wealth Management Group LLC now owns 8,141 shares of the energy company’s stock worth $266,000 after purchasing an additional 309 shares during the last quarter. Cornerstone Wealth Management LLC increased its holdings in Devon Energy by 1.6% during the 4th quarter. Cornerstone Wealth Management LLC now owns 21,242 shares of the energy company’s stock worth $695,000 after purchasing an additional 326 shares during the last quarter. Annex Advisory Services LLC increased its holdings in Devon Energy by 1.2% during the 4th quarter. Annex Advisory Services LLC now owns 27,021 shares of the energy company’s stock worth $884,000 after purchasing an additional 327 shares during the last quarter. Finally, Fiduciary Trust Co increased its holdings in Devon Energy by 3.1% during the 3rd quarter. Fiduciary Trust Co now owns 11,074 shares of the energy company’s stock worth $433,000 after purchasing an additional 329 shares during the last quarter. Institutional investors and hedge funds own 69.72% of the company’s stock.

Devon Energy Trading Up 0.1 %

Shares of DVN stock opened at $36.18 on Friday. The stock has a fifty day moving average of $35.46 and a two-hundred day moving average of $37.02. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.01 and a current ratio of 1.04. The firm has a market capitalization of $23.48 billion, a PE ratio of 7.93, a price-to-earnings-growth ratio of 1.20 and a beta of 1.91. Devon Energy Co. has a 1 year low of $30.39 and a 1 year high of $55.09.

Devon Energy (NYSE:DVN) last issued its quarterly earnings results on Tuesday, February 18th. The energy company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.16. The firm had revenue of $4.40 billion during the quarter, compared to analyst estimates of $4.25 billion. Devon Energy had a return on equity of 22.52% and a net margin of 18.14%. As a group, research analysts expect that Devon Energy Co. will post 4.85 EPS for the current year.

Devon Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a dividend of $0.24 per share. This is a positive change from Devon Energy’s previous quarterly dividend of $0.22. This represents a $0.96 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date is Friday, March 14th. Devon Energy’s dividend payout ratio (DPR) is presently 21.05%.

Analyst Ratings Changes

Several equities research analysts have issued reports on DVN shares. Williams Trading set a $50.00 price objective on Devon Energy in a report on Wednesday, March 5th. Piper Sandler upped their price objective on Devon Energy from $54.00 to $55.00 and gave the company an “overweight” rating in a research note on Monday, February 24th. Benchmark restated a “buy” rating and set a $44.00 price objective on shares of Devon Energy in a research note on Thursday, February 20th. Barclays upped their price objective on Devon Energy from $43.00 to $44.00 and gave the company an “equal weight” rating in a research note on Thursday, February 20th. Finally, Cowen cut Devon Energy to a “hold” rating and cut their price objective for the company from $46.00 to $45.00 in a research note on Tuesday, February 18th. Ten analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $48.46.

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.