Savant Capital LLC Sells 444 Shares of Devon Energy Co. (NYSE:DVN)

Savant Capital LLC decreased its position in shares of Devon Energy Co. (NYSE:DVN) by 2.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 18,611 shares of the energy company’s stock after selling 444 shares during the quarter. Savant Capital LLC’s holdings in Devon Energy were worth $843,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of Devon Energy in the 3rd quarter worth $27,000. Sound Income Strategies LLC increased its holdings in Devon Energy by 60.7% in the 4th quarter. Sound Income Strategies LLC now owns 675 shares of the energy company’s stock worth $31,000 after buying an additional 255 shares in the last quarter. Rise Advisors LLC raised its position in Devon Energy by 1,365.3% in the 4th quarter. Rise Advisors LLC now owns 718 shares of the energy company’s stock worth $33,000 after buying an additional 669 shares during the last quarter. PFS Partners LLC bought a new position in Devon Energy during the 4th quarter valued at about $36,000. Finally, Naples Money Management LLC purchased a new stake in shares of Devon Energy during the 4th quarter valued at about $40,000. Institutional investors own 69.72% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on DVN shares. Wells Fargo & Company raised shares of Devon Energy from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $46.00 to $59.00 in a report on Monday, April 1st. Barclays started coverage on Devon Energy in a report on Wednesday, April 10th. They set an “equal weight” rating and a $59.00 price target on the stock. Mizuho upped their price objective on Devon Energy from $53.00 to $57.00 and gave the company a “buy” rating in a research report on Thursday. Truist Financial dropped their target price on Devon Energy from $69.00 to $67.00 and set a “buy” rating on the stock in a research report on Friday. Finally, UBS Group upped their price target on shares of Devon Energy from $48.00 to $57.00 and gave the company a “neutral” rating in a research report on Wednesday, April 10th. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $58.44.

Devon Energy Stock Performance

NYSE DVN opened at $50.54 on Friday. The business has a 50-day moving average price of $49.62 and a 200-day moving average price of $46.31. The firm has a market cap of $32.09 billion, a price-to-earnings ratio of 9.64 and a beta of 2.16. Devon Energy Co. has a twelve month low of $40.47 and a twelve month high of $55.09. The company has a quick ratio of 0.99, a current ratio of 1.04 and a debt-to-equity ratio of 0.46.

Devon Energy (NYSE:DVN) last announced its quarterly earnings data on Wednesday, May 1st. The energy company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.06. The business had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.64 billion. Devon Energy had a net margin of 22.27% and a return on equity of 29.02%. The company’s revenue was down 5.9% on a year-over-year basis. During the same period last year, the firm posted $1.46 EPS. As a group, equities research analysts predict that Devon Energy Co. will post 5.28 EPS for the current fiscal year.

Devon Energy Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.88 dividend on an annualized basis and a yield of 1.74%. Devon Energy’s dividend payout ratio is currently 16.79%.

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.