Devon Energy Co. (NYSE:DVN) Shares Sold by Guinness Asset Management LTD

Guinness Asset Management LTD decreased its stake in shares of Devon Energy Co. (NYSE:DVN) by 13.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 224,541 shares of the energy company’s stock after selling 33,857 shares during the quarter. Guinness Asset Management LTD’s holdings in Devon Energy were worth $7,309,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of DVN. Envestnet Asset Management Inc. lifted its stake in Devon Energy by 0.5% in the second quarter. Envestnet Asset Management Inc. now owns 315,446 shares of the energy company’s stock worth $14,952,000 after acquiring an additional 1,591 shares during the last quarter. Edgestream Partners L.P. acquired a new stake in shares of Devon Energy in the 2nd quarter valued at $342,000. Mercer Global Advisors Inc. ADV lifted its position in shares of Devon Energy by 2.3% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 104,754 shares of the energy company’s stock worth $4,958,000 after purchasing an additional 2,384 shares during the last quarter. Blair William & Co. IL grew its stake in shares of Devon Energy by 2.0% during the second quarter. Blair William & Co. IL now owns 120,419 shares of the energy company’s stock worth $5,708,000 after purchasing an additional 2,365 shares in the last quarter. Finally, Intech Investment Management LLC increased its holdings in Devon Energy by 449.1% in the second quarter. Intech Investment Management LLC now owns 22,398 shares of the energy company’s stock valued at $1,062,000 after buying an additional 18,319 shares during the last quarter. Institutional investors and hedge funds own 69.72% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on DVN. Scotiabank lowered their price objective on Devon Energy from $60.00 to $48.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. StockNews.com upgraded shares of Devon Energy from a “sell” rating to a “hold” rating in a research note on Friday, January 3rd. JPMorgan Chase & Co. downgraded shares of Devon Energy from an “overweight” rating to a “neutral” rating and set a $43.00 price objective for the company. in a research report on Thursday, December 5th. Citigroup dropped their target price on shares of Devon Energy from $55.00 to $48.00 and set a “buy” rating on the stock in a research report on Tuesday, November 26th. Finally, Truist Financial reduced their price target on shares of Devon Energy from $43.00 to $42.00 and set a “hold” rating for the company in a research report on Monday, January 13th. Nine equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, Devon Energy currently has an average rating of “Moderate Buy” and a consensus price target of $49.27.

Devon Energy Stock Down 1.2 %

Shares of NYSE:DVN opened at $37.98 on Monday. Devon Energy Co. has a fifty-two week low of $30.39 and a fifty-two week high of $55.09. 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’s 50-day simple moving average is $35.48 and its 200-day simple moving average is $40.21. The company has a market cap of $24.95 billion, a price-to-earnings ratio of 7.05, a PEG ratio of 1.14 and a beta of 2.00.

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

Devon Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Friday, December 13th were issued a $0.22 dividend. The ex-dividend date was Friday, December 13th. This represents a $0.88 dividend on an annualized basis and a yield of 2.32%. Devon Energy’s dividend payout ratio (DPR) is presently 16.33%.

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.