Wellington Shields Capital Management LLC Has $46,000 Position in Devon Energy Co. (NYSE:DVN)

Wellington Shields Capital Management LLC cut its holdings in Devon Energy Co. (NYSE:DVN) by 89.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,400 shares of the energy company’s stock after selling 11,500 shares during the quarter. Wellington Shields Capital Management LLC’s holdings in Devon Energy were worth $46,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Apollon Wealth Management LLC grew its stake in shares of Devon Energy by 9.4% in the 3rd quarter. Apollon Wealth Management LLC now owns 43,277 shares of the energy company’s stock valued at $1,693,000 after buying an additional 3,715 shares during the period. KBC Group NV boosted its holdings in Devon Energy by 14.0% in the third quarter. KBC Group NV now owns 72,780 shares of the energy company’s stock worth $2,847,000 after acquiring an additional 8,920 shares in the last quarter. Metis Global Partners LLC increased its holdings in shares of Devon Energy by 9.7% during the third quarter. Metis Global Partners LLC now owns 27,179 shares of the energy company’s stock valued at $1,063,000 after acquiring an additional 2,392 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. raised its position in shares of Devon Energy by 7.3% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 21,609 shares of the energy company’s stock worth $845,000 after purchasing an additional 1,469 shares during the period. Finally, Oak Harbor Wealth Partners LLC raised its position in shares of Devon Energy by 8.6% during the third quarter. Oak Harbor Wealth Partners LLC now owns 34,727 shares of the energy company’s stock worth $1,359,000 after purchasing an additional 2,742 shares during the period. 69.72% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

DVN has been the subject of a number of recent research reports. Wolfe Research upgraded shares of Devon Energy from a “peer perform” rating to an “outperform” rating and set a $45.00 price target for the company in a research note on Friday, January 3rd. Cowen downgraded shares of Devon Energy to a “hold” rating and decreased their target price for the stock from $46.00 to $45.00 in a research report on Tuesday, February 18th. StockNews.com raised shares of Devon Energy from a “sell” rating to a “hold” rating in a research report on Friday, January 3rd. Benchmark reiterated a “buy” rating and set a $44.00 price target on shares of Devon Energy in a research note on Thursday, February 20th. Finally, Piper Sandler increased their price objective on Devon Energy from $54.00 to $55.00 and gave the stock an “overweight” rating in a research note on Monday, February 24th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, Devon Energy has a consensus rating of “Moderate Buy” and an average price target of $48.54.

Devon Energy Stock Up 2.1 %

Devon Energy stock opened at $34.50 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.04 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $22.39 billion, a P/E ratio of 7.56, a P/E/G ratio of 1.20 and a beta of 1.91. The firm has a 50 day moving average price of $35.38 and a 200-day moving average price of $37.37. Devon Energy Co. has a twelve month low of $30.39 and a twelve month high of $55.09.

Devon Energy (NYSE:DVN) last announced its quarterly earnings data on Tuesday, February 18th. The energy company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.16. The business 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, equities analysts predict that Devon Energy Co. will post 4.85 EPS for the current year.

Devon Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a $0.24 dividend. This is a boost from Devon Energy’s previous quarterly dividend of $0.22. This represents a $0.96 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date of this dividend is Friday, March 14th. Devon Energy’s payout ratio is currently 21.05%.

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.