Jaffetilchin Investment Partners LLC Sells 19,622 Shares of Devon Energy Co. (NYSE:DVN)

Jaffetilchin Investment Partners LLC trimmed its stake in Devon Energy Co. (NYSE:DVN) by 52.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,452 shares of the energy company’s stock after selling 19,622 shares during the quarter. Jaffetilchin Investment Partners LLC’s holdings in Devon Energy were worth $683,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Annex Advisory Services LLC increased its stake in Devon Energy by 0.8% during the 2nd quarter. Annex Advisory Services LLC now owns 27,651 shares of the energy company’s stock valued at $1,311,000 after purchasing an additional 223 shares in the last quarter. Versant Capital Management Inc boosted its stake in Devon Energy by 30.4% during the 2nd quarter. Versant Capital Management Inc now owns 970 shares of the energy company’s stock valued at $46,000 after purchasing an additional 226 shares during the last quarter. Archer Investment Corp increased its holdings in shares of Devon Energy by 2.8% in the 2nd quarter. Archer Investment Corp now owns 8,535 shares of the energy company’s stock worth $405,000 after purchasing an additional 235 shares in the last quarter. Citizens Financial Group Inc. RI raised its stake in shares of Devon Energy by 2.6% in the first quarter. Citizens Financial Group Inc. RI now owns 9,480 shares of the energy company’s stock worth $476,000 after purchasing an additional 236 shares during the last quarter. Finally, Institute for Wealth Management LLC. boosted its position in shares of Devon Energy by 4.0% during the second quarter. Institute for Wealth Management LLC. now owns 6,234 shares of the energy company’s stock valued at $296,000 after buying an additional 237 shares during the last quarter. 69.72% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on DVN shares. Sanford C. Bernstein lowered their price objective on shares of Devon Energy from $48.00 to $43.00 and set a “market perform” rating on the stock in a research report on Wednesday, July 17th. Evercore ISI lowered their target price on Devon Energy from $55.00 to $50.00 and set an “in-line” rating on the stock in a report on Monday, September 30th. UBS Group reduced their price target 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. Wells Fargo & Company cut their target price on shares of Devon Energy from $50.00 to $49.00 and set an “overweight” rating for the company in a research report on Thursday, November 7th. Finally, BMO Capital Markets dropped their price target on shares of Devon Energy from $52.00 to $48.00 and set an “outperform” rating on the stock in a research note on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $51.80.

Devon Energy Price Performance

Shares of Devon Energy stock opened at $38.96 on Tuesday. The company has a current ratio of 1.11, a quick ratio of 1.03 and a debt-to-equity ratio of 0.61. Devon Energy Co. has a 12 month low of $37.76 and a 12 month high of $55.09. The stock has a 50 day moving average of $40.36 and a 200 day moving average of $44.69. The firm has a market cap of $25.59 billion, a PE ratio of 7.23, a PEG ratio of 1.21 and a beta of 2.03.

Devon Energy (NYSE:DVN) last announced its quarterly earnings results on Tuesday, November 5th. The energy company reported $1.10 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.01. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%. The company had revenue of $4.02 billion for the quarter, compared to analysts’ expectations of $3.72 billion. During the same quarter in the previous year, the business posted $1.65 earnings per share. Devon Energy’s quarterly revenue was up 4.9% on a year-over-year basis. On average, research analysts expect that Devon Energy Co. will post 4.89 EPS for the current fiscal year.

Devon Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date is Friday, December 13th. Devon Energy’s payout ratio is 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.