Bernzott Capital Advisors Has $3.84 Million Stock Position in Devon Energy Co. (NYSE:DVN)

Bernzott Capital Advisors lowered its position in Devon Energy Co. (NYSE:DVN) by 11.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 117,157 shares of the energy company’s stock after selling 14,775 shares during the quarter. Bernzott Capital Advisors’ holdings in Devon Energy were worth $3,835,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Capital Performance Advisors LLP purchased a new position in Devon Energy in the third quarter valued at about $35,000. Future Financial Wealth Managment LLC purchased a new position in Devon Energy in the third quarter valued at about $39,000. True Wealth Design LLC grew its stake in Devon Energy by 3,889.3% in the third quarter. True Wealth Design LLC now owns 1,117 shares of the energy company’s stock valued at $44,000 after purchasing an additional 1,089 shares in the last quarter. Hazlett Burt & Watson Inc. grew its stake in Devon Energy by 29.8% in the third quarter. Hazlett Burt & Watson Inc. now owns 1,263 shares of the energy company’s stock valued at $49,000 after purchasing an additional 290 shares in the last quarter. Finally, Activest Wealth Management grew its stake in Devon Energy by 60.4% in the third quarter. Activest Wealth Management now owns 1,275 shares of the energy company’s stock valued at $50,000 after purchasing an additional 480 shares in the last quarter. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Devon Energy Trading Down 0.0 %

Devon Energy stock opened at $38.42 on Friday. The business has a 50 day moving average price of $35.50 and a two-hundred day moving average price of $40.40. 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 stock has a market cap of $25.24 billion, a price-to-earnings ratio of 7.13, a price-to-earnings-growth ratio of 1.14 and a beta of 2.00. Devon Energy Co. has a 12 month low of $30.39 and a 12 month high of $55.09.

Devon Energy (NYSE:DVN) last posted its quarterly earnings results on Tuesday, November 5th. The energy company reported $1.10 EPS for the quarter, beating the consensus estimate of $1.09 by $0.01. The firm had revenue of $4.02 billion during the quarter, compared to analysts’ expectations of $3.72 billion. Devon Energy had a return on equity of 24.73% and a net margin of 21.71%. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.65 EPS. As a group, equities analysts forecast that Devon Energy Co. will post 4.72 EPS for the current year.

Devon Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Friday, December 13th were issued a $0.22 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.29%. Devon Energy’s payout ratio is presently 16.33%.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Wolfe Research upgraded Devon Energy from a “peer perform” rating to an “outperform” rating and set a $45.00 target price on the stock in a research note on Friday, January 3rd. TD Cowen decreased their price target on Devon Energy from $54.00 to $46.00 and set a “hold” rating for the company in a research note on Tuesday, November 5th. Citigroup decreased their price target on Devon Energy from $55.00 to $48.00 and set a “buy” rating for the company in a research note on Tuesday, November 26th. Jefferies Financial Group assumed coverage on Devon Energy in a research note on Thursday, October 3rd. They set a “hold” rating and a $45.00 price target for the company. Finally, StockNews.com upgraded Devon Energy from a “sell” rating to a “hold” rating in a research note on Friday, January 3rd. Nine equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the stock has an average 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.