Town & Country Bank & Trust CO dba First Bankers Trust CO Cuts Position in Devon Energy Co. (NYSE:DVN)

Town & Country Bank & Trust CO dba First Bankers Trust CO lessened its position in shares of Devon Energy Co. (NYSE:DVN) by 31.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,601 shares of the energy company’s stock after selling 6,701 shares during the quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO’s holdings in Devon Energy were worth $706,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Mach 1 Financial Group LLC purchased a new position in Devon Energy during the 1st quarter valued at approximately $13,412,000. Tyler Stone Wealth Management purchased a new position in Devon Energy during the 4th quarter valued at approximately $25,000. Canada Pension Plan Investment Board purchased a new position in Devon Energy during the 1st quarter valued at approximately $26,000. Clearview Wealth Advisors LLC purchased a new position in Devon Energy during the 1st quarter valued at approximately $25,000. Finally, Crewe Advisors LLC grew its holdings in Devon Energy by 16,633.3% during the 1st quarter. Crewe Advisors LLC now owns 502 shares of the energy company’s stock valued at $25,000 after buying an additional 499 shares in the last quarter. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Devon Energy Stock Down 2.5 %

DVN stock traded down $1.25 on Friday, hitting $49.68. 26,184,989 shares of the company’s stock were exchanged, compared to its average volume of 8,927,839. Devon Energy Co. has a 12-month low of $44.03 and a 12-month high of $78.82. The firm has a 50 day moving average price of $51.05 and a two-hundred day moving average price of $50.50. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.90 and a current ratio of 0.98. The stock has a market cap of $31.83 billion, a P/E ratio of 6.80, a price-to-earnings-growth ratio of 0.18 and a beta of 2.34.

Devon Energy (NYSE:DVN) last posted its quarterly earnings results on Tuesday, August 1st. The energy company reported $1.18 earnings per share for the quarter, meeting the consensus estimate of $1.18. The business had revenue of $3.45 billion for the quarter, compared to the consensus estimate of $3.26 billion. Devon Energy had a return on equity of 37.89% and a net margin of 28.10%. The company’s quarterly revenue was down 38.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.59 EPS. As a group, equities research analysts expect that Devon Energy Co. will post 5.61 EPS for the current fiscal year.

Devon Energy Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be paid a dividend of $0.49 per share. The ex-dividend date is Thursday, September 14th. This represents a $1.96 annualized dividend and a yield of 3.95%. Devon Energy’s payout ratio is presently 10.94%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Royal Bank of Canada lowered their price objective on Devon Energy from $63.00 to $60.00 and set a “sector perform” rating for the company in a research note on Thursday, July 13th. Truist Financial decreased their target price on Devon Energy from $69.00 to $63.00 and set a “buy” rating for the company in a research report on Thursday, August 3rd. StockNews.com initiated coverage on Devon Energy in a research report on Thursday, August 17th. They set a “sell” rating for the company. Piper Sandler decreased their target price on Devon Energy from $72.00 to $65.00 and set an “overweight” rating for the company in a research report on Monday, August 14th. Finally, Wells Fargo & Company decreased their target price on Devon Energy from $52.00 to $51.00 and set an “equal weight” rating for the company in a research report on Friday, September 1st. One research analyst has rated the stock with a sell rating, six have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $63.72.

Insider Buying and Selling at Devon Energy

In other Devon Energy news, EVP Dennis C. Cameron sold 7,870 shares of the business’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $51.13, for a total transaction of $402,393.10. Following the sale, the executive vice president now owns 210,548 shares in the company, valued at approximately $10,765,319.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.63% of the company’s stock.

Devon Energy Profile

Devon Energy Corporation, an independent energy company, explores for, develops, and produces oil, natural gas, and natural gas liquids in the United States. It operates in Delaware, Anadarko, Williston, Eagle Ford, and Powder River Basin. The company was incorporated in 1971 and is headquartered in Oklahoma City, Oklahoma.