Devon Energy Co. (NYSE:DVN) Shares Sold by Wedbush Securities Inc.

Wedbush Securities Inc. reduced its stake in shares of Devon Energy Co. (NYSE:DVN) by 13.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 52,698 shares of the energy company’s stock after selling 7,918 shares during the period. Wedbush Securities Inc.’s holdings in Devon Energy were worth $2,498,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. grew its position in Devon Energy by 3.5% in the first quarter. Vanguard Group Inc. now owns 76,457,056 shares of the energy company’s stock worth $3,836,615,000 after acquiring an additional 2,559,039 shares during the period. Raymond James & Associates grew its holdings in shares of Devon Energy by 1.5% during the 2nd quarter. Raymond James & Associates now owns 9,183,778 shares of the energy company’s stock worth $435,311,000 after purchasing an additional 138,919 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Devon Energy by 26.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 7,077,042 shares of the energy company’s stock worth $320,609,000 after purchasing an additional 1,488,374 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings in Devon Energy by 3.8% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 4,699,410 shares of the energy company’s stock valued at $222,752,000 after buying an additional 169,923 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in Devon Energy by 0.4% in the second quarter. Bank of New York Mellon Corp now owns 4,680,448 shares of the energy company’s stock valued at $221,853,000 after buying an additional 18,443 shares during the last quarter. 69.72% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on DVN. Morgan Stanley lifted their price target on shares of Devon Energy from $52.00 to $54.00 and gave the company an “overweight” rating in a research report on Tuesday, July 9th. Susquehanna dropped their target price on shares of Devon Energy from $65.00 to $63.00 and set a “positive” rating for the company in a report on Wednesday, September 4th. Sanford C. Bernstein decreased their price target on Devon Energy from $48.00 to $43.00 and set a “market perform” rating on the stock in a research note on Wednesday, July 17th. Bank of America reissued a “buy” rating and set a $64.00 target price on shares of Devon Energy in a research note on Friday, June 14th. Finally, Mizuho raised their target price on Devon Energy from $57.00 to $61.00 and gave the company a “buy” rating in a report on Monday, May 13th. Six investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Devon Energy currently has an average rating of “Moderate Buy” and an average price target of $58.63.

Devon Energy Trading Up 0.1 %

NYSE:DVN opened at $41.40 on Tuesday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.03 and a current ratio of 1.11. Devon Energy Co. has a 1 year low of $40.47 and a 1 year high of $55.09. The stock has a market cap of $26.16 billion, a P/E ratio of 7.90, a P/E/G ratio of 1.17 and a beta of 2.03. The stock has a 50-day simple moving average of $45.27 and a 200-day simple moving average of $47.57.

Devon Energy (NYSE:DVN) last released its quarterly earnings data on Tuesday, August 6th. The energy company reported $1.41 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.15. The company had revenue of $3.92 billion for the quarter, compared to analysts’ expectations of $3.90 billion. Devon Energy had a net margin of 22.60% and a return on equity of 29.14%. The firm’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same quarter last year, the company earned $1.18 earnings per share. As a group, analysts anticipate that Devon Energy Co. will post 5.37 earnings per share for the current fiscal year.

Devon Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be given a $0.22 dividend. The ex-dividend date is Friday, September 13th. This represents a $0.88 dividend on an annualized basis and a yield of 2.13%. Devon Energy’s dividend payout ratio (DPR) is presently 16.79%.

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.