Devon Energy Co. (NYSE:DVN) Shares Sold by Forte Capital LLC ADV

Forte Capital LLC ADV lowered its holdings in shares of Devon Energy Co. (NYSE:DVN) by 1.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,699 shares of the energy company’s stock after selling 594 shares during the period. Forte Capital LLC ADV’s holdings in Devon Energy were worth $1,670,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Triad Wealth Partners LLC bought a new stake in shares of Devon Energy during the second quarter valued at about $27,000. 1620 Investment Advisors Inc. bought a new position in shares of Devon Energy in the second quarter valued at approximately $34,000. PSI Advisors LLC boosted its holdings in shares of Devon Energy by 66.7% in the second quarter. PSI Advisors LLC now owns 750 shares of the energy company’s stock valued at $36,000 after acquiring an additional 300 shares in the last quarter. LRI Investments LLC bought a new stake in Devon Energy during the first quarter worth approximately $39,000. Finally, Manchester Capital Management LLC lifted its position in Devon Energy by 40.9% in the first quarter. Manchester Capital Management LLC now owns 861 shares of the energy company’s stock worth $43,000 after purchasing an additional 250 shares during the period. Institutional investors and hedge funds own 69.72% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on DVN. UBS Group cut their price objective on Devon Energy from $53.00 to $47.00 and set a “neutral” rating for the company in a report on Wednesday, September 18th. Susquehanna cut their price target on shares of Devon Energy from $63.00 to $62.00 and set a “positive” rating for the company in a report on Friday, October 18th. Truist Financial decreased their price target on shares of Devon Energy from $60.00 to $49.00 and set a “buy” rating on the stock in a research report on Monday, September 30th. Jefferies Financial Group initiated coverage on Devon Energy in a research report on Thursday, October 3rd. They set a “hold” rating and a $45.00 price objective for the company. Finally, Evercore ISI reduced their price objective on Devon Energy from $55.00 to $50.00 and set an “in-line” rating for the company in a research note on Monday, September 30th. Ten equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, Devon Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $52.15.

Devon Energy Stock Performance

Shares of DVN stock opened at $40.01 on Thursday. Devon Energy Co. has a fifty-two week low of $37.76 and a fifty-two week high of $55.09. The stock’s 50-day moving average is $40.72 and its two-hundred day moving average is $45.03. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.11 and a quick ratio of 1.03. The firm has a market cap of $25.05 billion, a P/E ratio of 7.42, a PEG ratio of 1.18 and a beta of 2.03.

Devon Energy (NYSE:DVN) last released its quarterly earnings data on Tuesday, November 5th. The energy company reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $0.01. The firm had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $3.72 billion. Devon Energy had a return on equity of 29.14% and a net margin of 22.60%. The firm’s revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.65 earnings per share. Analysts predict that Devon Energy Co. will post 4.93 earnings per share for the current fiscal year.

Devon Energy Dividend Announcement

The firm also recently disclosed 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 yield of 2.20%. The ex-dividend date of this dividend is Friday, December 13th. Devon Energy’s dividend payout ratio 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.