Smithfield Trust Co Sells 420 Shares of Devon Energy Co. (NYSE:DVN)

Smithfield Trust Co lowered its holdings in Devon Energy Co. (NYSE:DVNFree Report) by 11.4% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,270 shares of the energy company’s stock after selling 420 shares during the period. Smithfield Trust Co’s holdings in Devon Energy were worth $155,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in DVN. CENTRAL TRUST Co increased its stake in Devon Energy by 21.1% during the 2nd quarter. CENTRAL TRUST Co now owns 8,881 shares of the energy company’s stock worth $429,000 after acquiring an additional 1,550 shares during the period. Vanguard Personalized Indexing Management LLC lifted its position in Devon Energy by 3.6% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 67,064 shares of the energy company’s stock worth $3,242,000 after purchasing an additional 2,302 shares during the period. Point72 Europe London LLP bought a new position in Devon Energy in the 2nd quarter valued at about $15,068,000. National Bank of Canada FI raised its position in shares of Devon Energy by 548.8% in the 3rd quarter. National Bank of Canada FI now owns 840,334 shares of the energy company’s stock valued at $38,356,000 after buying an additional 710,811 shares in the last quarter. Finally, SG Americas Securities LLC lifted its holdings in shares of Devon Energy by 224.8% during the 3rd quarter. SG Americas Securities LLC now owns 151,305 shares of the energy company’s stock worth $7,217,000 after acquiring an additional 104,716 shares during the period. Institutional investors and hedge funds own 68.34% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on DVN. Truist Financial reduced their target price on Devon Energy from $68.00 to $65.00 and set a “buy” rating on the stock in a report on Thursday, November 9th. Morgan Stanley raised Devon Energy from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $48.00 to $52.00 in a research note on Monday, December 11th. Piper Sandler dropped their price objective on shares of Devon Energy from $61.00 to $59.00 and set an “overweight” rating for the company in a report on Wednesday, January 24th. Wells Fargo & Company cut their target price on shares of Devon Energy from $50.00 to $48.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 22nd. Finally, Royal Bank of Canada decreased their price target on shares of Devon Energy from $60.00 to $55.00 and set a “sector perform” rating for the company in a research report on Wednesday, November 15th. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Devon Energy has a consensus rating of “Moderate Buy” and a consensus price target of $56.65.

Check Out Our Latest Stock Report on DVN

Devon Energy Price Performance

Shares of NYSE:DVN opened at $42.62 on Monday. Devon Energy Co. has a twelve month low of $40.51 and a twelve month high of $66.96. The stock’s 50 day moving average is $44.34 and its 200-day moving average is $47.35. The company has a quick ratio of 0.89, a current ratio of 0.96 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $27.31 billion, a price-to-earnings ratio of 7.29, a PEG ratio of 0.16 and a beta of 2.20.

Devon Energy (NYSE:DVNGet Free Report) last released its quarterly earnings data on Tuesday, November 7th. The energy company reported $1.65 earnings per share for the quarter, topping the consensus estimate of $1.56 by $0.09. The firm had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $4.03 billion. Devon Energy had a net margin of 24.63% and a return on equity of 33.97%. Sell-side analysts forecast that Devon Energy Co. will post 5.67 EPS for the current fiscal year.

Devon Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Friday, December 15th were given a $0.77 dividend. This is a boost from Devon Energy’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend was Thursday, December 14th. This represents a $3.08 annualized dividend and a yield of 7.23%. Devon Energy’s dividend payout ratio (DPR) is presently 13.68%.

Devon Energy Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Devon Energy (NYSE:DVN)

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