Adirondack Trust Co. Has $44,000 Holdings in Devon Energy Co. (NYSE:DVN)

Adirondack Trust Co. lessened its position in Devon Energy Co. (NYSE:DVN) by 40.1% in the 4th quarter, Holdings Channel reports. The fund owned 1,346 shares of the energy company’s stock after selling 901 shares during the period. Adirondack Trust Co.’s holdings in Devon Energy were worth $44,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its position in shares of Devon Energy by 1.3% in the third quarter. Geode Capital Management LLC now owns 15,892,970 shares of the energy company’s stock worth $619,747,000 after buying an additional 206,884 shares during the period. EnCap Energy Capital Fund XI L.P. purchased a new stake in Devon Energy in the 3rd quarter worth about $461,857,000. Pacer Advisors Inc. boosted its holdings in shares of Devon Energy by 16.9% during the third 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 during the period. EnCap Partners GP LLC acquired a new stake in shares of Devon Energy during the 3rd quarter valued at $408,653,000. Finally, Victory Capital Management Inc. grew its holdings in shares of Devon Energy by 3.8% during the 3rd quarter. Victory Capital Management Inc. now owns 9,971,343 shares of the energy company’s stock valued at $390,079,000 after acquiring an additional 361,968 shares in the last quarter. Institutional investors and hedge funds own 69.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Raymond James reduced their price objective on Devon Energy from $58.00 to $51.00 in a research report on Tuesday, November 5th. Piper Sandler lowered their price target on Devon Energy from $57.00 to $53.00 and set an “overweight” rating for the company in a research note on Tuesday, December 17th. Sanford C. Bernstein raised shares of Devon Energy from a “market perform” rating to an “outperform” rating and set a $45.00 price objective on the stock in a research report on Wednesday, January 15th. Evercore ISI reduced their target price on shares of Devon Energy from $55.00 to $50.00 and set an “in-line” rating for the company in a research note on Monday, September 30th. Finally, StockNews.com upgraded shares of Devon Energy from a “sell” rating to a “hold” rating in a research note on Friday, January 3rd. 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 has an average rating of “Moderate Buy” and a consensus target price of $49.27.

Devon Energy Trading Down 0.7 %

Shares of Devon Energy stock opened at $36.46 on Thursday. The company has a market cap of $23.95 billion, a price-to-earnings ratio of 6.76, a PEG ratio of 1.22 and a beta of 2.00. Devon Energy Co. has a 1 year low of $30.39 and a 1 year high of $55.09. The company’s fifty day simple moving average is $35.37 and its 200-day simple moving average is $40.05. The company has a current ratio of 1.11, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61.

Devon Energy (NYSE:DVN) last posted its quarterly earnings data on Tuesday, November 5th. The energy company reported $1.10 earnings per share (EPS) for the quarter, topping 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 company had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $3.72 billion. During the same quarter in the previous year, the firm posted $1.65 EPS. The business’s revenue was up 4.9% compared to the same quarter last year. As a group, sell-side analysts expect that Devon Energy Co. will post 4.68 EPS for the current year.

Devon Energy Announces Dividend

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

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.