Richard P Slaughter Associates Inc Decreases Stock Holdings in Devon Energy Co. (NYSE:DVN)

Richard P Slaughter Associates Inc trimmed its position in shares of Devon Energy Co. (NYSE:DVN) by 2.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 36,333 shares of the energy company’s stock after selling 1,045 shares during the period. Richard P Slaughter Associates Inc’s holdings in Devon Energy were worth $1,189,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of DVN. Assenagon Asset Management S.A. lifted its holdings in Devon Energy by 312.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 328,029 shares of the energy company’s stock worth $10,736,000 after buying an additional 248,509 shares during the period. San Luis Wealth Advisors LLC raised its holdings in shares of Devon Energy by 39.2% during the fourth quarter. San Luis Wealth Advisors LLC now owns 19,756 shares of the energy company’s stock valued at $647,000 after acquiring an additional 5,561 shares in the last quarter. Rockland Trust Co. raised its holdings in shares of Devon Energy by 15.6% during the fourth quarter. Rockland Trust Co. now owns 6,395 shares of the energy company’s stock valued at $209,000 after acquiring an additional 865 shares in the last quarter. Fifth Third Wealth Advisors LLC lifted its stake in Devon Energy by 35.4% in the fourth quarter. Fifth Third Wealth Advisors LLC now owns 15,240 shares of the energy company’s stock worth $499,000 after acquiring an additional 3,981 shares during the period. Finally, Signal Advisors Wealth LLC boosted its holdings in Devon Energy by 25.8% in the fourth quarter. Signal Advisors Wealth LLC now owns 8,475 shares of the energy company’s stock valued at $277,000 after acquiring an additional 1,739 shares in the last quarter. 69.72% of the stock is currently owned by hedge funds and other institutional investors.

Devon Energy Price Performance

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

Devon Energy (NYSE:DVN) last released its quarterly earnings data on Tuesday, November 5th. The energy company reported $1.10 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.01. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%. The firm had revenue of $4.02 billion during the quarter, compared to analysts’ expectations of $3.72 billion. During the same period in the previous year, the company earned $1.65 earnings per share. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. On average, analysts expect that Devon Energy Co. will post 4.79 earnings per share for the current year.

Devon Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Friday, December 13th were issued 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 payout ratio is currently 16.33%.

Analysts Set New Price Targets

DVN has been the subject of several research analyst reports. Scotiabank dropped their target price on shares of 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. Evercore ISI lowered their price objective on shares of Devon Energy from $55.00 to $50.00 and set an “in-line” rating for the company in a report on Monday, September 30th. Mizuho reduced their target price on Devon Energy from $51.00 to $47.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. Wells Fargo & Company lowered their target price on Devon Energy from $49.00 to $43.00 and set an “overweight” rating for the company in a research note on Tuesday, December 17th. Finally, Barclays reduced their price target on Devon Energy from $55.00 to $46.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 3rd. Nine analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, Devon Energy has a consensus rating of “Moderate Buy” and a consensus target price of $49.27.

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.