American Trust Has $247,000 Holdings in Devon Energy Co. (NYSE:DVN)

American Trust lowered its position in shares of Devon Energy Co. (NYSE:DVN – Get Rating) by 29.6% during the third quarter, Holdings Channel reports. The fund owned 4,104 shares of the energy company’s stock after selling 1,722 shares during the quarter. American Trust’s holdings in Devon Energy were worth $247,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Canada Pension Plan Investment Board acquired a new position in Devon Energy in the 1st quarter valued at approximately $26,000. SJS Investment Consulting Inc. acquired a new position in Devon Energy in the 3rd quarter valued at approximately $29,000. Financial Enhancement Group LLC acquired a new position in Devon Energy in the 3rd quarter valued at approximately $29,000. Optimum Investment Advisors acquired a new position in Devon Energy in the 3rd quarter valued at approximately $30,000. Finally, Absolute Capital Management LLC acquired a new position in Devon Energy in the 3rd quarter valued at approximately $35,000. Institutional investors and hedge funds own 78.08% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on DVN shares. Raymond James dropped their price target on shares of Devon Energy from $80.00 to $67.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, February 22nd. Morgan Stanley decreased their price objective on shares of Devon Energy from $67.00 to $61.00 and set an “equal weight” rating for the company in a report on Tuesday, January 24th. Citigroup decreased their price objective on shares of Devon Energy from $77.00 to $66.00 and set a “buy” rating for the company in a report on Thursday, February 23rd. Barclays decreased their price objective on shares of Devon Energy from $82.00 to $67.00 in a report on Friday. Finally, Susquehanna decreased their price objective on shares of Devon Energy from $79.00 to $72.00 and set a “positive” rating for the company in a report on Thursday, February 16th. Eight research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $72.42.

Devon Energy Price Performance

Shares of Devon Energy stock opened at $46.15 on Friday. Devon Energy Co. has a fifty-two week low of $44.03 and a fifty-two week high of $79.40. The company has a market cap of $30.18 billion, a PE ratio of 5.06, a price-to-earnings-growth ratio of 0.14 and a beta of 2.33. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.25 and a quick ratio of 1.19. The firm has a fifty day moving average price of $58.77 and a two-hundred day moving average price of $64.30.

Devon Energy (NYSE:DVN – Get Rating) last announced its quarterly earnings data on Wednesday, February 15th. The energy company reported $1.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.09). Devon Energy had a net margin of 31.38% and a return on equity of 52.20%. The business had revenue of $4.30 billion during the quarter, compared to analyst estimates of $4.29 billion. During the same quarter in the prior year, the company posted $1.39 EPS. The company’s quarterly revenue was up .6% compared to the same quarter last year. Analysts expect that Devon Energy Co. will post 6.97 EPS for the current year.

Devon Energy Increases Dividend

The firm also recently disclosed a None dividend, which will be paid on Friday, March 31st. Stockholders of record on Wednesday, March 15th will be paid a $0.89 dividend. This is a boost from Devon Energy’s previous None dividend of $0.49. The ex-dividend date of this dividend is Tuesday, March 14th. This represents a dividend yield of 9.3%. Devon Energy’s dividend payout ratio is currently 8.77%.

Insider Activity

In other Devon Energy news, CEO Richard E. Muncrief acquired 10,000 shares of the company’s stock in a transaction dated Friday, February 17th. The stock was bought at an average price of $53.28 per share, for a total transaction of $532,800.00. Following the purchase, the chief executive officer now owns 1,973,977 shares in the company, valued at approximately $105,173,494.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director John E. Bethancourt bought 3,765 shares of the company’s stock in a transaction that occurred on Friday, February 17th. The stock was acquired at an average price of $53.06 per share, for a total transaction of $199,770.90. Following the transaction, the director now directly owns 94,669 shares of the company’s stock, valued at approximately $5,023,137.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Richard E. Muncrief bought 10,000 shares of the company’s stock in a transaction that occurred on Friday, February 17th. The shares were purchased at an average price of $53.28 per share, with a total value of $532,800.00. Following the transaction, the chief executive officer now directly owns 1,973,977 shares in the company, valued at $105,173,494.56. The disclosure for this purchase can be found here. Corporate insiders own 0.80% of the company’s stock.

Devon Energy Profile

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Devon Energy Corp. engages in the exploration, development, and production of oil and natural gas properties. It develops and operates Delaware Basin, Eagle Ford, Heavy Oil, Barnett Shale, STACK, and Rockies Oil. The company was founded by J. Larry Nichols and John W. Nichols in 1971 and is headquartered in Oklahoma City, OK.