Simmons Bank Sells 340 Shares of Devon Energy Co. (NYSE:DVN)

Simmons Bank lowered its holdings in shares of Devon Energy Co. (NYSE:DVN) by 2.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,400 shares of the energy company’s stock after selling 340 shares during the quarter. Simmons Bank’s holdings in Devon Energy were worth $524,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in DVN. Triad Wealth Partners LLC purchased a new stake in shares of Devon Energy during the 2nd quarter valued at about $27,000. 1620 Investment Advisors Inc. bought a new stake in Devon Energy during the second quarter worth approximately $34,000. Capital Performance Advisors LLP purchased a new stake in Devon Energy during the third quarter valued at approximately $35,000. PSI Advisors LLC lifted its stake in shares of Devon Energy by 66.7% in the 2nd quarter. PSI Advisors LLC now owns 750 shares of the energy company’s stock valued at $36,000 after purchasing an additional 300 shares during the last quarter. Finally, LRI Investments LLC purchased a new position in shares of Devon Energy in the 1st quarter worth approximately $39,000. 69.72% of the stock is owned by hedge funds and other institutional investors.

Devon Energy Stock Up 2.0 %

NYSE:DVN opened at $39.10 on Thursday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.11. The stock has a market capitalization of $25.68 billion, a P/E ratio of 7.25, a P/E/G ratio of 1.19 and a beta of 2.03. The company’s 50-day simple moving average is $40.20 and its 200-day simple moving average is $44.55. Devon Energy Co. has a fifty-two week low of $37.76 and a fifty-two week high of $55.09.

Devon Energy (NYSE:DVN) last announced its earnings results on Tuesday, November 5th. The energy company reported $1.10 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.01. The company had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $3.72 billion. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%. Devon Energy’s revenue was up 4.9% compared to the same quarter last year. During the same period last year, the firm earned $1.65 earnings per share. On average, equities analysts anticipate that Devon Energy Co. will post 4.86 earnings per share for the current fiscal year.

Devon Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be paid a dividend of $0.22 per share. The ex-dividend date is Friday, December 13th. This represents a $0.88 annualized dividend and a yield of 2.25%. Devon Energy’s dividend payout ratio (DPR) is 16.33%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on DVN shares. Sanford C. Bernstein dropped their price target on shares of Devon Energy from $48.00 to $43.00 and set a “market perform” rating for the company in a research note on Wednesday, July 17th. Barclays dropped their target price on Devon Energy from $55.00 to $46.00 and set an “equal weight” rating for the company in a research report on Thursday, October 3rd. BMO Capital Markets reduced their price target on Devon Energy from $52.00 to $48.00 and set an “outperform” rating on the stock in a report on Friday, October 4th. Scotiabank dropped their price objective on Devon Energy from $60.00 to $48.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Finally, Wolfe Research initiated coverage on Devon Energy in a research note on Thursday, July 18th. They issued a “peer perform” rating on the stock. One research analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $51.80.

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.