Wahed Invest LLC Sells 341 Shares of Devon Energy Co. (NYSE:DVN)

Wahed Invest LLC decreased its position in Devon Energy Co. (NYSE:DVN) by 2.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,937 shares of the energy company’s stock after selling 341 shares during the quarter. Wahed Invest LLC’s holdings in Devon Energy were worth $489,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of DVN. Rehmann Capital Advisory Group lifted its stake in Devon Energy by 105.0% in the fourth quarter. Rehmann Capital Advisory Group now owns 17,620 shares of the energy company’s stock worth $577,000 after purchasing an additional 9,024 shares during the last quarter. Comerica Bank lifted its stake in shares of Devon Energy by 19.3% in the 4th quarter. Comerica Bank now owns 210,450 shares of the energy company’s stock valued at $6,888,000 after acquiring an additional 34,083 shares during the last quarter. AQR Capital Management LLC boosted its holdings in Devon Energy by 59.9% during the 4th quarter. AQR Capital Management LLC now owns 1,778,980 shares of the energy company’s stock valued at $57,728,000 after acquiring an additional 666,206 shares during the period. Lido Advisors LLC grew its position in Devon Energy by 4.0% during the 4th quarter. Lido Advisors LLC now owns 29,647 shares of the energy company’s stock worth $970,000 after acquiring an additional 1,136 shares during the last quarter. Finally, Northern Trust Corp increased its stake in Devon Energy by 2.4% in the 4th quarter. Northern Trust Corp now owns 6,260,735 shares of the energy company’s stock worth $204,914,000 after purchasing an additional 144,789 shares during the period. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Devon Energy Price Performance

NYSE DVN opened at $31.46 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 1.01. Devon Energy Co. has a 1-year low of $25.89 and a 1-year high of $51.46. The stock has a market capitalization of $20.24 billion, a price-to-earnings ratio of 6.90, a PEG ratio of 1.20 and a beta of 1.50. The business’s fifty day moving average price is $32.94 and its 200-day moving average price is $35.07.

Devon Energy (NYSE:DVN) last announced its earnings results on Tuesday, February 18th. The energy company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.16. Devon Energy had a return on equity of 22.52% and a net margin of 18.14%. The business had revenue of $4.40 billion for the quarter, compared to analysts’ expectations of $4.25 billion. On average, equities analysts predict that Devon Energy Co. will post 4.85 earnings per share for the current year.

Devon Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were issued a dividend of $0.24 per share. This is a boost from Devon Energy’s previous quarterly dividend of $0.22. This represents a $0.96 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date of this dividend was Friday, March 14th. Devon Energy’s dividend payout ratio is currently 21.05%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on DVN. Williams Trading set a $50.00 target price on shares of Devon Energy in a report on Wednesday, March 5th. Scotiabank lowered their price objective on shares of Devon Energy from $45.00 to $35.00 and set a “sector outperform” rating for the company in a research note on Friday, April 11th. JPMorgan Chase & Co. cut their target price on Devon Energy from $48.00 to $42.00 and set a “neutral” rating on the stock in a research note on Thursday, March 13th. StockNews.com raised Devon Energy from a “sell” rating to a “hold” rating in a research report on Friday, January 3rd. Finally, Benchmark reiterated a “buy” rating and issued a $44.00 price objective on shares of Devon Energy in a report on Thursday, February 20th. Ten investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $43.87.

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.