Clear Harbor Asset Management LLC Sells 27,378 Shares of Devon Energy Co. (NYSE:DVN)

Clear Harbor Asset Management LLC cut its stake in shares of Devon Energy Co. (NYSE:DVN) by 73.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,846 shares of the energy company’s stock after selling 27,378 shares during the quarter. Clear Harbor Asset Management LLC’s holdings in Devon Energy were worth $322,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. Segment Wealth Management LLC grew its stake in shares of Devon Energy by 4.5% during the fourth quarter. Segment Wealth Management LLC now owns 8,952 shares of the energy company’s stock worth $293,000 after buying an additional 385 shares during the last quarter. Perpetual Ltd boosted its holdings in shares of Devon Energy by 165.2% during the 4th quarter. Perpetual Ltd now owns 16,268 shares of the energy company’s stock valued at $532,000 after acquiring an additional 10,133 shares in the last quarter. Lmcg Investments LLC grew its position in Devon Energy by 1.6% during the 4th quarter. Lmcg Investments LLC now owns 56,858 shares of the energy company’s stock worth $1,861,000 after acquiring an additional 896 shares during the last quarter. Ballentine Partners LLC increased its holdings in Devon Energy by 4.2% in the 4th quarter. Ballentine Partners LLC now owns 10,129 shares of the energy company’s stock worth $332,000 after purchasing an additional 404 shares in the last quarter. Finally, Culbertson A N & Co. Inc. raised its position in Devon Energy by 36.4% in the fourth quarter. Culbertson A N & Co. Inc. now owns 32,611 shares of the energy company’s stock valued at $1,067,000 after purchasing an additional 8,698 shares during the last quarter. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently issued reports on DVN shares. Jefferies Financial Group initiated coverage on Devon Energy in a research note on Thursday, October 3rd. They issued a “hold” rating and a $45.00 price objective for the company. StockNews.com upgraded shares of Devon Energy from a “sell” rating to a “hold” rating in a research report on Friday, January 3rd. Sanford C. Bernstein upgraded shares of Devon Energy from a “market perform” rating to an “outperform” rating and set a $45.00 price target on the stock in a report on Wednesday, January 15th. Truist Financial decreased their price objective on Devon Energy from $43.00 to $42.00 and set a “hold” rating for the company in a report on Monday, January 13th. Finally, Susquehanna cut their target price on Devon Energy from $63.00 to $62.00 and set a “positive” rating on the stock in a report on Friday, October 18th. Nine analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Devon Energy currently has an average rating of “Moderate Buy” and an average price target of $49.27.

Devon Energy Stock Performance

Shares of DVN opened at $36.73 on Wednesday. Devon Energy Co. has a one year low of $30.39 and a one year high of $55.09. The company has a market cap of $24.13 billion, a PE ratio of 6.81, a P/E/G ratio of 1.26 and a beta of 2.00. The stock has a 50-day moving average of $35.43 and a 200-day moving average of $40.07. 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 announced its quarterly earnings data on Tuesday, November 5th. The energy company reported $1.10 EPS for the quarter, beating 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 analysts’ expectations of $3.72 billion. During the same quarter last year, the firm posted $1.65 earnings per share. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. On average, equities research analysts predict that Devon Energy Co. will post 4.68 EPS for the current fiscal year.

Devon Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Friday, December 13th were paid a dividend of $0.22 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.88 dividend on an annualized basis and a yield of 2.40%. Devon Energy’s dividend payout ratio (DPR) is presently 16.33%.

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.