Devon Energy Co. (NYSE:DVN) Shares Sold by Raymond James Trust N.A.

Raymond James Trust N.A. lessened its position in Devon Energy Co. (NYSE:DVN) by 19.6% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 70,995 shares of the energy company’s stock after selling 17,347 shares during the period. Raymond James Trust N.A.’s holdings in Devon Energy were worth $2,777,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of DVN. Triad Wealth Partners LLC acquired a new position in Devon Energy in the 2nd quarter valued at $27,000. 1620 Investment Advisors Inc. acquired a new position in Devon Energy in the second quarter valued at $34,000. Capital Performance Advisors LLP purchased a new position in Devon Energy during the third quarter worth about $35,000. PSI Advisors LLC boosted its stake in Devon Energy by 66.7% in the 2nd quarter. PSI Advisors LLC now owns 750 shares of the energy company’s stock worth $36,000 after buying an additional 300 shares during the last quarter. Finally, LRI Investments LLC purchased a new stake in Devon Energy in the 1st quarter valued at about $39,000. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Wall Street Analysts Forecast Growth

DVN has been the topic of several research analyst reports. Susquehanna decreased their target price on shares of Devon Energy from $63.00 to $62.00 and set a “positive” rating on the stock in a research report on Friday, October 18th. BMO Capital Markets cut their price target on shares of Devon Energy from $52.00 to $48.00 and set an “outperform” rating on the stock in a research note on Friday, October 4th. Morgan Stanley lowered their price objective on shares of Devon Energy from $55.00 to $51.00 and set an “overweight” rating for the company in a research note on Monday, September 16th. Evercore ISI cut their target price on Devon Energy from $55.00 to $50.00 and set an “in-line” rating on the stock in a research report on Monday, September 30th. Finally, UBS Group lowered their price target on Devon Energy from $53.00 to $47.00 and set a “neutral” rating for the company in a research report on Wednesday, September 18th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $51.85.

Devon Energy Price Performance

Shares of DVN stock opened at $39.45 on Friday. Devon Energy Co. has a twelve month low of $37.76 and a twelve month high of $55.09. The company has a market capitalization of $25.91 billion, a PE ratio of 7.32, a price-to-earnings-growth ratio of 1.22 and a beta of 2.03. The company has a current ratio of 1.11, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. The firm has a fifty day simple moving average of $39.94 and a 200-day simple moving average of $43.95.

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. Devon Energy had a return on equity of 24.73% and a net margin of 21.71%. The company 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 earnings per share. The company’s revenue was up 4.9% on a year-over-year basis. Equities research analysts anticipate that Devon Energy Co. will post 4.79 earnings per share for the current fiscal year.

Devon Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be issued 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 2.23%. Devon Energy’s dividend payout ratio is presently 16.33%.

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.