Bernzott Capital Advisors Trims Holdings in Devon Energy Co. (NYSE:DVN)

Bernzott Capital Advisors trimmed its stake in Devon Energy Co. (NYSE:DVN) by 2.4% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 131,932 shares of the energy company’s stock after selling 3,195 shares during the period. Bernzott Capital Advisors’ holdings in Devon Energy were worth $5,161,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. Park Place Capital Corp acquired a new position in Devon Energy during the 1st quarter worth approximately $226,000. Tradewinds Capital Management LLC acquired a new position in Devon Energy during the 1st quarter worth approximately $30,000. State of Alaska Department of Revenue grew its holdings in Devon Energy by 0.5% during the 1st quarter. State of Alaska Department of Revenue now owns 69,520 shares of the energy company’s stock worth $3,488,000 after acquiring an additional 330 shares in the last quarter. IVC Wealth Advisors LLC boosted its holdings in shares of Devon Energy by 11.5% in the 1st quarter. IVC Wealth Advisors LLC now owns 14,574 shares of the energy company’s stock valued at $731,000 after buying an additional 1,499 shares in the last quarter. Finally, Norden Group LLC acquired a new position in shares of Devon Energy in the 1st quarter valued at $1,330,000. 69.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently commented on DVN. StockNews.com downgraded shares of Devon Energy from a “buy” rating to a “hold” rating in a research report on Monday, September 2nd. Sanford C. Bernstein cut their price objective on shares of Devon Energy from $48.00 to $43.00 and set a “market perform” rating for the company in a research report on Wednesday, July 17th. JPMorgan Chase & Co. cut their price target on shares of Devon Energy from $64.00 to $51.00 and set an “overweight” rating for the company in a report on Thursday, September 12th. UBS Group cut their price target on shares of Devon Energy from $53.00 to $47.00 and set a “neutral” rating for the company in a report on Wednesday, September 18th. Finally, Wells Fargo & Company reiterated a “sector outperform” rating on shares of Devon Energy in a report on Friday, October 18th. Nine investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $52.53.

Devon Energy Trading Down 1.1 %

DVN stock traded down $0.42 during midday trading on Tuesday, reaching $38.17. 2,297,938 shares of the company’s stock traded hands, compared to its average volume of 7,318,334. The company has a market capitalization of $23.90 billion, a P/E ratio of 7.00, a PEG ratio of 1.22 and a beta of 2.02. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.11 and a quick ratio of 1.03. Devon Energy Co. has a fifty-two week low of $37.76 and a fifty-two week high of $55.09. The business has a 50-day moving average price of $41.49 and a two-hundred day moving average price of $45.64.

Devon Energy (NYSE:DVN) last posted its earnings results on Tuesday, August 6th. The energy company reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.15. Devon Energy had a net margin of 22.60% and a return on equity of 29.14%. The business had revenue of $3.92 billion for the quarter, compared to analysts’ expectations of $3.90 billion. During the same period in the previous year, the company posted $1.18 earnings per share. The business’s revenue for the quarter was up 13.4% compared to the same quarter last year. Equities research analysts forecast that Devon Energy Co. will post 4.98 EPS for the current fiscal year.

Devon Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were issued a $0.22 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.88 annualized dividend and a yield of 2.31%. Devon Energy’s dividend payout ratio is presently 15.97%.

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.