Smithfield Trust Co Sells 715 Shares of Devon Energy Co. (NYSE:DVN)

Smithfield Trust Co lessened its holdings in Devon Energy Co. (NYSE:DVN) by 21.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,555 shares of the energy company’s stock after selling 715 shares during the quarter. Smithfield Trust Co’s holdings in Devon Energy were worth $101,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of DVN. International Assets Investment Management LLC raised its position in shares of Devon Energy by 4,125.7% in the 3rd quarter. International Assets Investment Management LLC now owns 2,280,961 shares of the energy company’s stock valued at $89,231,000 after acquiring an additional 2,226,983 shares during the period. Pacer Advisors Inc. grew its stake in shares of Devon Energy by 16.9% in the third quarter. Pacer Advisors Inc. now owns 11,591,168 shares of the energy company’s stock valued at $453,446,000 after buying an additional 1,677,652 shares in the last quarter. Los Angeles Capital Management LLC boosted its position in Devon Energy by 7,165.6% during the second quarter. Los Angeles Capital Management LLC now owns 1,376,253 shares of the energy company’s stock worth $65,234,000 after purchasing an additional 1,357,311 shares during the period. Dimensional Fund Advisors LP boosted its position in 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 worth $416,779,000 after purchasing an additional 1,255,543 shares during the period. Finally, National Bank of Canada FI boosted its position in 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 worth $56,299,000 after purchasing an additional 964,147 shares during the period. Institutional investors own 69.72% of the company’s stock.

Devon Energy Stock Performance

NYSE DVN opened at $38.77 on Friday. The stock has a market capitalization of $25.47 billion, a PE ratio of 7.19, a P/E/G ratio of 1.20 and a beta of 2.03. Devon Energy Co. has a 1-year low of $37.76 and a 1-year high of $55.09. The business has a 50 day simple moving average of $39.94 and a two-hundred day simple moving average of $44.08. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.11 and a quick ratio of 1.01.

Devon Energy (NYSE:DVN) last issued its quarterly earnings results on Tuesday, November 5th. The energy company reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.01. Devon Energy had a return on equity of 24.73% and a net margin of 21.71%. The firm had revenue of $4.02 billion during the quarter, compared to analyst estimates of $3.72 billion. During the same period last year, the company earned $1.65 EPS. Devon Energy’s quarterly revenue was up 4.9% compared to the same quarter last year. On average, research analysts predict that Devon Energy Co. will post 4.81 EPS for the current fiscal year.

Devon Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date is Friday, December 13th. Devon Energy’s dividend payout ratio (DPR) is presently 16.33%.

Analyst Ratings Changes

DVN has been the subject of a number of recent research reports. UBS Group reduced their target price on shares of Devon Energy from $53.00 to $47.00 and set a “neutral” rating for the company in a research report on Wednesday, September 18th. Jefferies Financial Group began coverage on Devon Energy in a research note on Thursday, October 3rd. They set a “hold” rating and a $45.00 target price for the company. Wells Fargo & Company reduced their price target on Devon Energy from $50.00 to $49.00 and set an “overweight” rating on the stock in a report on Thursday, November 7th. TD Cowen reduced their target price on Devon Energy from $54.00 to $46.00 and set a “hold” rating on the stock in a report on Tuesday, November 5th. Finally, Susquehanna cut their price target on Devon Energy from $63.00 to $62.00 and set a “positive” rating on the stock in a report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $51.85.

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.