Devon Energy Co. (NYSE:DVN) Stock Holdings Lessened by SPC Financial Inc.

SPC Financial Inc. lowered its stake in Devon Energy Co. (NYSE:DVN) by 41.2% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 8,938 shares of the energy company’s stock after selling 6,250 shares during the period. SPC Financial Inc.’s holdings in Devon Energy were worth $293,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of DVN. EnCap Energy Capital Fund XI L.P. bought a new position in shares of Devon Energy in the third quarter valued at $461,857,000. EnCap Partners GP LLC purchased a new position in Devon Energy during the 3rd quarter worth approximately $408,653,000. EnCap Energy Capital Fund X L.P. purchased a new position in Devon Energy during the 3rd quarter worth approximately $230,928,000. Pacer Advisors Inc. grew its position in Devon Energy by 16.9% during the 3rd quarter. Pacer Advisors Inc. now owns 11,591,168 shares of the energy company’s stock worth $453,446,000 after purchasing an additional 1,677,652 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its position in Devon Energy by 90.8% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 2,724,407 shares of the energy company’s stock worth $89,170,000 after purchasing an additional 1,296,590 shares in the last quarter. Institutional investors own 69.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on DVN shares. StockNews.com upgraded shares of Devon Energy from a “sell” rating to a “hold” rating in a research report on Friday, January 3rd. JPMorgan Chase & Co. cut shares of Devon Energy from an “overweight” rating to a “neutral” rating and set a $43.00 price objective on the stock. in a research report on Thursday, December 5th. Mizuho lowered their price objective on shares of Devon Energy from $51.00 to $47.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. Barclays lifted their price objective on shares of Devon Energy from $43.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 20th. Finally, Susquehanna boosted their price target on shares of Devon Energy from $50.00 to $52.00 and gave the company a “positive” rating in a report on Thursday, February 20th. Ten research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $48.87.

Devon Energy Trading Down 1.8 %

Shares of NYSE:DVN opened at $33.64 on Thursday. The stock has a market capitalization of $21.83 billion, a PE ratio of 7.38, a P/E/G ratio of 1.20 and a beta of 1.91. Devon Energy Co. has a 1 year low of $30.39 and a 1 year high of $55.09. The firm has a fifty day moving average price of $35.07 and a 200 day moving average price of $37.85. The company has a current ratio of 1.04, a quick ratio of 1.01 and a debt-to-equity ratio of 0.57.

Devon Energy (NYSE:DVN) last released its earnings results on Tuesday, February 18th. The energy company reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.16. The firm had revenue of $4.40 billion during the quarter, compared to analyst estimates of $4.25 billion. Devon Energy had a net margin of 18.14% and a return on equity of 22.52%. Analysts expect that Devon Energy Co. will post 4.85 EPS for the current fiscal year.

Devon Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a dividend of $0.24 per share. This is a positive change from Devon Energy’s previous quarterly dividend of $0.22. The ex-dividend date is Friday, March 14th. This represents a $0.96 dividend on an annualized basis and a yield of 2.85%. Devon Energy’s payout ratio is currently 21.05%.

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.