Simplicity Solutions LLC Has $526,000 Stock Position in Devon Energy Co. (NYSE:DVN)

Simplicity Solutions LLC decreased its holdings in shares of Devon Energy Co. (NYSE:DVN) by 3.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,605 shares of the energy company’s stock after selling 469 shares during the quarter. Simplicity Solutions LLC’s holdings in Devon Energy were worth $526,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of DVN. Wahed Invest LLC lifted its holdings in Devon Energy by 2.1% during the 1st quarter. Wahed Invest LLC now owns 7,933 shares of the energy company’s stock valued at $469,000 after purchasing an additional 161 shares during the last quarter. Avior Wealth Management LLC lifted its holdings in Devon Energy by 4.9% during the 3rd quarter. Avior Wealth Management LLC now owns 4,406 shares of the energy company’s stock valued at $210,000 after purchasing an additional 207 shares during the last quarter. Cornerstone Wealth Management LLC lifted its holdings in Devon Energy by 1.9% during the 3rd quarter. Cornerstone Wealth Management LLC now owns 11,540 shares of the energy company’s stock valued at $550,000 after purchasing an additional 218 shares during the last quarter. MCF Advisors LLC lifted its holdings in Devon Energy by 9.0% during the 3rd quarter. MCF Advisors LLC now owns 2,681 shares of the energy company’s stock valued at $128,000 after purchasing an additional 222 shares during the last quarter. Finally, Clearbridge Investments LLC lifted its holdings in Devon Energy by 2.1% during the 3rd quarter. Clearbridge Investments LLC now owns 11,887 shares of the energy company’s stock valued at $567,000 after purchasing an additional 239 shares during the last quarter. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Devon Energy Stock Down 0.5 %

Shares of NYSE:DVN opened at $51.43 on Friday. Devon Energy Co. has a one year low of $40.47 and a one year high of $55.09. The company has a 50 day moving average of $47.69 and a 200-day moving average of $45.86. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.07 and a quick ratio of 0.99. The stock has a market cap of $32.66 billion, a price-to-earnings ratio of 8.82 and a beta of 2.19.

Devon Energy (NYSE:DVN) last issued its quarterly earnings data on Tuesday, February 27th. The energy company reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.02. Devon Energy had a net margin of 24.56% and a return on equity of 31.72%. The firm had revenue of $4.15 billion during the quarter, compared to analysts’ expectations of $3.88 billion. During the same quarter in the previous year, the company earned $1.66 earnings per share. The business’s revenue for the quarter was down 3.6% on a year-over-year basis. On average, sell-side analysts forecast that Devon Energy Co. will post 5.14 earnings per share for the current year.

Devon Energy Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were paid a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 3.42%. The ex-dividend date of this dividend was Thursday, March 14th. Devon Energy’s payout ratio is presently 15.09%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on DVN shares. Stifel Nicolaus cut their price target on shares of Devon Energy from $75.00 to $65.00 and set a “buy” rating for the company in a report on Friday, March 22nd. UBS Group lifted their price target on shares of Devon Energy from $48.00 to $57.00 and gave the company a “neutral” rating in a report on Wednesday, April 10th. Royal Bank of Canada restated a “sector perform” rating and issued a $55.00 price objective on shares of Devon Energy in a research report on Thursday, March 7th. Mizuho lowered their price objective on shares of Devon Energy from $54.00 to $53.00 and set a “buy” rating for the company in a research report on Thursday, January 11th. Finally, Wells Fargo & Company upgraded shares of Devon Energy from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $46.00 to $59.00 in a research report on Monday, April 1st. Five analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $57.89.

About Devon Energy

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.