Devon Energy Co. (NYSE:DVN) Shares Sold by Smithfield Trust Co

Smithfield Trust Co decreased its stake in shares of Devon Energy Co. (NYSE:DVN) by 58.1% in the 4th quarter, HoldingsChannel.com reports. The firm owned 1,070 shares of the energy company’s stock after selling 1,485 shares during the quarter. Smithfield Trust Co’s holdings in Devon Energy were worth $35,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of DVN. Capital Performance Advisors LLP acquired a new position in Devon Energy during the third quarter worth approximately $35,000. Cromwell Holdings LLC grew its stake in Devon Energy by 98.0% during the fourth quarter. Cromwell Holdings LLC now owns 1,208 shares of the energy company’s stock worth $40,000 after buying an additional 598 shares during the period. Sierra Ocean LLC purchased a new stake in Devon Energy during the fourth quarter worth approximately $43,000. True Wealth Design LLC grew its stake in Devon Energy by 3,889.3% during the third quarter. True Wealth Design LLC now owns 1,117 shares of the energy company’s stock worth $44,000 after buying an additional 1,089 shares during the period. Finally, Activest Wealth Management grew its stake in Devon Energy by 60.4% during the third quarter. Activest Wealth Management now owns 1,275 shares of the energy company’s stock worth $50,000 after buying an additional 480 shares during the period. Institutional investors and hedge funds own 69.72% of the company’s stock.

Devon Energy Stock Down 1.8 %

Shares of NYSE:DVN opened at $33.64 on Thursday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.01 and a current ratio of 1.04. Devon Energy Co. has a 1-year low of $30.39 and a 1-year high of $55.09. The company’s fifty day moving average is $35.07 and its two-hundred day moving average is $37.85. The stock has a market capitalization of $21.83 billion, a price-to-earnings ratio of 7.38, a price-to-earnings-growth ratio of 1.20 and a beta of 1.91.

Devon Energy (NYSE:DVN) last released its quarterly earnings data on Tuesday, February 18th. The energy company reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.16. Devon Energy had a net margin of 18.14% and a return on equity of 22.52%. The business had revenue of $4.40 billion for the quarter, compared to analysts’ expectations of $4.25 billion. Equities analysts anticipate 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 issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.85%. The ex-dividend date is Friday, March 14th. This is a boost from Devon Energy’s previous quarterly dividend of $0.22. Devon Energy’s dividend payout ratio (DPR) is 21.05%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on DVN shares. Citigroup decreased their price objective on shares of Devon Energy from $55.00 to $48.00 and set a “buy” rating for the company in a research note on Tuesday, November 26th. Raymond James upped their target price on shares of Devon Energy from $53.00 to $54.00 and gave the company an “outperform” rating in a research note on Thursday, January 23rd. Benchmark restated a “buy” rating and issued a $44.00 target price on shares of Devon Energy in a research note on Thursday, February 20th. Truist Financial upped their target price on shares of Devon Energy from $42.00 to $44.00 and gave the company a “hold” rating in a research note on Thursday, February 20th. Finally, JPMorgan Chase & Co. downgraded shares of Devon Energy from an “overweight” rating to a “neutral” rating and set a $43.00 target price for the company. in a research note on Thursday, December 5th. Ten investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $48.87.

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.