Rockefeller Capital Management L.P. Sells 38,803 Shares of Devon Energy Corporation $DVN

Rockefeller Capital Management L.P. cut its position in Devon Energy Corporation (NYSE:DVN) by 8.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 432,746 shares of the energy company’s stock after selling 38,803 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Devon Energy were worth $13,766,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC bought a new position in shares of Devon Energy in the 2nd quarter valued at about $25,000. Banque Cantonale Vaudoise acquired a new position in Devon Energy during the first quarter worth approximately $26,000. Trust Co. of Vermont raised its stake in Devon Energy by 241.3% in the second quarter. Trust Co. of Vermont now owns 942 shares of the energy company’s stock valued at $30,000 after buying an additional 666 shares during the period. FNY Investment Advisers LLC acquired a new stake in shares of Devon Energy in the second quarter valued at approximately $34,000. Finally, SouthState Corp increased its holdings in shares of Devon Energy by 350.5% during the 1st quarter. SouthState Corp now owns 991 shares of the energy company’s stock worth $37,000 after acquiring an additional 771 shares during the last quarter. Institutional investors and hedge funds own 69.72% of the company’s stock.

Analyst Ratings Changes

DVN has been the subject of several research reports. Piper Sandler cut their price target on Devon Energy from $57.00 to $55.00 and set an “overweight” rating for the company in a report on Tuesday. Mizuho decreased their price target on shares of Devon Energy from $43.00 to $40.00 and set an “outperform” rating on the stock in a research note on Monday, September 15th. The Goldman Sachs Group raised their price objective on shares of Devon Energy from $40.00 to $42.00 and gave the stock a “buy” rating in a research report on Thursday, November 13th. Scotiabank restated an “outperform” rating on shares of Devon Energy in a report on Thursday, October 9th. Finally, Siebert Williams Shank dropped their price target on Devon Energy from $52.00 to $46.00 and set a “buy” rating for the company in a report on Monday, October 13th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.79.

Devon Energy Stock Up 2.3%

NYSE DVN opened at $35.89 on Wednesday. The company has a market cap of $22.52 billion, a price-to-earnings ratio of 8.05, a PEG ratio of 2.49 and a beta of 1.01. Devon Energy Corporation has a 1-year low of $25.89 and a 1-year high of $39.65. The company has a current ratio of 1.22, a quick ratio of 1.13 and a debt-to-equity ratio of 0.55. The company has a 50 day moving average of $33.96 and a 200-day moving average of $33.47.

Devon Energy (NYSE:DVN) last posted its quarterly earnings results on Wednesday, November 5th. The energy company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.11. The business had revenue of $0.00 million for the quarter, compared to analyst estimates of $4.10 billion. Devon Energy had a net margin of 16.57% and a return on equity of 18.59%. During the same quarter last year, the business posted $1.10 EPS. On average, equities research analysts expect that Devon Energy Corporation will post 4.85 earnings per share for the current fiscal year.

Devon Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Monday, December 15th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date is Monday, December 15th. Devon Energy’s dividend payout ratio is presently 22.59%.

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.