Centaurus Financial Inc. cut its stake in shares of Devon Energy Co. (NYSE:DVN – Free Report) by 8.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,567 shares of the energy company’s stock after selling 788 shares during the quarter. Centaurus Financial Inc.’s holdings in Devon Energy were worth $335,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. International Assets Investment Management LLC boosted its position in shares of Devon Energy by 4,125.7% during the 3rd quarter. International Assets Investment Management LLC now owns 2,280,961 shares of the energy company’s stock worth $89,231,000 after purchasing an additional 2,226,983 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in Devon Energy by 16.9% in the third quarter. Pacer Advisors Inc. now owns 11,591,168 shares of the energy company’s stock worth $453,446,000 after acquiring an additional 1,677,652 shares in the last quarter. Los Angeles Capital Management LLC grew its stake in Devon Energy by 7,165.6% in the second quarter. Los Angeles Capital Management LLC now owns 1,376,253 shares of the energy company’s stock valued at $65,234,000 after acquiring an additional 1,357,311 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Devon Energy by 16.7% during the second quarter. Dimensional Fund Advisors LP now owns 8,793,217 shares of the energy company’s stock valued at $416,779,000 after acquiring an additional 1,255,543 shares in the last quarter. Finally, National Bank of Canada FI increased its holdings in shares of Devon Energy by 447.6% during the second quarter. National Bank of Canada FI now owns 1,179,538 shares of the energy company’s stock valued at $56,299,000 after acquiring an additional 964,147 shares in the last quarter. 69.72% of the stock is currently owned by institutional investors and hedge funds.
Devon Energy Trading Down 1.5 %
Shares of DVN stock opened at $37.71 on Wednesday. The company has a quick ratio of 1.01, a current ratio of 1.11 and a debt-to-equity ratio of 0.61. The firm has a market cap of $24.77 billion, a P/E ratio of 7.00, a PEG ratio of 1.25 and a beta of 2.03. The company has a 50 day moving average of $39.91 and a 200-day moving average of $43.81. Devon Energy Co. has a 12-month low of $37.28 and a 12-month high of $55.09.
Devon Energy Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date is Friday, December 13th. Devon Energy’s dividend payout ratio is currently 16.33%.
Analyst Upgrades and Downgrades
Several analysts recently issued reports on the stock. Mizuho reduced their price target on shares of Devon Energy from $53.00 to $51.00 and set an “outperform” rating for the company in a research report on Wednesday, October 9th. BMO Capital Markets reduced their price objective on shares of Devon Energy from $52.00 to $48.00 and set an “outperform” rating for the company in a report on Friday, October 4th. Jefferies Financial Group started coverage on shares of Devon Energy in a report on Thursday, October 3rd. They issued a “hold” rating and a $45.00 target price on the stock. Morgan Stanley cut their price target on Devon Energy from $55.00 to $51.00 and set an “overweight” rating for the company in a research note on Monday, September 16th. Finally, JPMorgan Chase & Co. lowered their price objective on Devon Energy from $64.00 to $51.00 and set an “overweight” rating for the company in a research note on Thursday, September 12th. One analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $51.15.
View Our Latest Analysis on DVN
Devon Energy Company 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.
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