Teamwork Financial Advisors LLC Sells 3,458 Shares of Devon Energy Co. (NYSE:DVN)

Teamwork Financial Advisors LLC trimmed its position in Devon Energy Co. (NYSE:DVN) by 26.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 9,775 shares of the energy company’s stock after selling 3,458 shares during the quarter. Teamwork Financial Advisors LLC’s holdings in Devon Energy were worth $320,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Dakota Wealth Management lifted its holdings in shares of Devon Energy by 260.8% in the 4th quarter. Dakota Wealth Management now owns 19,230 shares of the energy company’s stock worth $629,000 after purchasing an additional 13,900 shares in the last quarter. MCF Advisors LLC lifted its position in Devon Energy by 60.6% in the 4th quarter. MCF Advisors LLC now owns 6,109 shares of the energy company’s stock valued at $200,000 after acquiring an additional 2,306 shares in the last quarter. Segment Wealth Management LLC boosted its stake in Devon Energy by 4.5% during the 4th quarter. Segment Wealth Management LLC now owns 8,952 shares of the energy company’s stock valued at $293,000 after purchasing an additional 385 shares during the last quarter. Perpetual Ltd increased its holdings in Devon Energy by 165.2% during the 4th quarter. Perpetual Ltd now owns 16,268 shares of the energy company’s stock worth $532,000 after purchasing an additional 10,133 shares in the last quarter. Finally, Lmcg Investments LLC raised its stake in shares of Devon Energy by 1.6% in the fourth quarter. Lmcg Investments LLC now owns 56,858 shares of the energy company’s stock worth $1,861,000 after purchasing an additional 896 shares during the last quarter. Institutional investors own 69.72% of the company’s stock.

Devon Energy Stock Down 0.7 %

Shares of NYSE DVN opened at $36.46 on Thursday. The business has a 50-day simple moving average of $35.37 and a two-hundred day simple moving average of $40.05. Devon Energy Co. has a 52 week low of $30.39 and a 52 week high of $55.09. The company has a market cap of $23.95 billion, a P/E ratio of 6.76, a P/E/G ratio of 1.22 and a beta of 2.00. The company has a quick ratio of 1.01, a current ratio of 1.11 and a debt-to-equity ratio of 0.61.

Devon Energy (NYSE:DVN) last announced its quarterly earnings results on Tuesday, November 5th. The energy company reported $1.10 EPS for the quarter, beating the consensus estimate of $1.09 by $0.01. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%. The firm had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $3.72 billion. During the same period last year, the firm earned $1.65 EPS. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. Research analysts anticipate that Devon Energy Co. will post 4.68 earnings per share for the current fiscal year.

Devon Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Friday, December 13th were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date was Friday, December 13th. Devon Energy’s dividend payout ratio is currently 16.33%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. BMO Capital Markets decreased their price target on Devon Energy from $52.00 to $48.00 and set an “outperform” rating for the company in a report on Friday, October 4th. TD Cowen dropped their price target on shares of Devon Energy from $54.00 to $46.00 and set a “hold” rating on the stock in a research report on Tuesday, November 5th. Sanford C. Bernstein upgraded shares of Devon Energy from a “market perform” rating to an “outperform” rating and set a $45.00 price objective for the company in a research note on Wednesday, January 15th. JPMorgan Chase & Co. downgraded Devon Energy from an “overweight” rating to a “neutral” rating and set a $43.00 target price on the stock. in a research note on Thursday, December 5th. Finally, Wells Fargo & Company decreased their price target on Devon Energy from $49.00 to $43.00 and set an “overweight” rating for the company in a research report on Tuesday, December 17th. Nine analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Devon Energy has a consensus rating of “Moderate Buy” and an average price target of $49.27.

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.