Kingswood Wealth Advisors LLC Trims Stake in Devon Energy Co. (NYSE:DVN)

Kingswood Wealth Advisors LLC trimmed its position in Devon Energy Co. (NYSE:DVN) by 9.7% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 38,024 shares of the energy company’s stock after selling 4,079 shares during the quarter. Kingswood Wealth Advisors LLC’s holdings in Devon Energy were worth $1,245,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Riversedge Advisors LLC increased its stake in Devon Energy by 3.6% during the 3rd quarter. Riversedge Advisors LLC now owns 7,336 shares of the energy company’s stock worth $287,000 after buying an additional 253 shares in the last quarter. Modus Advisors LLC boosted its stake in shares of Devon Energy by 2.4% in the third quarter. Modus Advisors LLC now owns 11,439 shares of the energy company’s stock worth $447,000 after acquiring an additional 272 shares during the last quarter. Hazlett Burt & Watson Inc. increased its position in shares of Devon Energy by 29.8% during the third quarter. Hazlett Burt & Watson Inc. now owns 1,263 shares of the energy company’s stock worth $49,000 after purchasing an additional 290 shares in the last quarter. Sfmg LLC raised its stake in Devon Energy by 0.5% in the 3rd quarter. Sfmg LLC now owns 64,871 shares of the energy company’s stock valued at $2,538,000 after purchasing an additional 294 shares during the last quarter. Finally, Hexagon Capital Partners LLC lifted its holdings in Devon Energy by 4.0% in the 3rd quarter. Hexagon Capital Partners LLC now owns 8,001 shares of the energy company’s stock valued at $313,000 after purchasing an additional 310 shares in the last quarter. Institutional investors own 69.72% of the company’s stock.

Devon Energy Stock Down 1.8 %

Devon Energy stock opened at $35.33 on Tuesday. The company has a market capitalization of $23.20 billion, a PE ratio of 6.55, a price-to-earnings-growth ratio of 1.21 and a beta of 2.00. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.11. Devon Energy Co. has a fifty-two week low of $30.39 and a fifty-two week high of $55.09. The firm has a 50 day moving average price of $35.20 and a 200 day moving average price of $39.78.

Devon Energy (NYSE:DVN) last issued its quarterly earnings data on Tuesday, November 5th. The energy company reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates of $1.09 by $0.01. Devon Energy had a return on equity of 24.73% and a net margin of 21.71%. The business had revenue of $4.02 billion during the quarter, compared to analysts’ expectations of $3.72 billion. During the same period in the previous year, the firm posted $1.65 earnings per share. The company’s revenue was up 4.9% on a year-over-year basis. Research analysts expect that Devon Energy Co. will post 4.7 earnings per share for the current year.

Devon Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Friday, December 13th were paid a dividend of $0.22 per share. The ex-dividend date was Friday, December 13th. This represents a $0.88 dividend on an annualized basis and a yield of 2.49%. Devon Energy’s dividend payout ratio (DPR) is presently 16.33%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on DVN. Truist Financial reduced their target price on shares of Devon Energy from $43.00 to $42.00 and set a “hold” rating for the company in a research report on Monday, January 13th. Scotiabank cut their price objective on shares of Devon Energy from $60.00 to $48.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. StockNews.com upgraded Devon Energy from a “sell” rating to a “hold” rating in a report on Friday, January 3rd. Wells Fargo & Company cut their price target on Devon Energy from $49.00 to $43.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th. Finally, Benchmark upgraded Devon Energy from a “hold” rating to a “buy” rating and set a $44.00 price objective on the stock in a research report on Tuesday, January 14th. Nine research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $49.41.

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.