Devon Energy Co. (NYSE:DVN) Shares Sold by Amalgamated Bank

Amalgamated Bank trimmed its holdings in Devon Energy Co. (NYSE:DVN) by 5.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 156,469 shares of the energy company’s stock after selling 8,527 shares during the period. Amalgamated Bank’s holdings in Devon Energy were worth $7,088,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Stratos Wealth Partners LTD. increased its position in Devon Energy by 2.2% during the third quarter. Stratos Wealth Partners LTD. now owns 27,834 shares of the energy company’s stock worth $1,328,000 after purchasing an additional 594 shares during the last quarter. Brown Advisory Inc. raised its position in shares of Devon Energy by 77.2% during the 3rd quarter. Brown Advisory Inc. now owns 8,316 shares of the energy company’s stock valued at $397,000 after buying an additional 3,622 shares during the period. Lindbrook Capital LLC lifted its holdings in Devon Energy by 32.5% in the third quarter. Lindbrook Capital LLC now owns 1,916 shares of the energy company’s stock valued at $91,000 after acquiring an additional 470 shares during the last quarter. WealthShield Partners LLC grew its position in Devon Energy by 9.1% in the third quarter. WealthShield Partners LLC now owns 23,507 shares of the energy company’s stock worth $1,122,000 after acquiring an additional 1,959 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Devon Energy by 20.3% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 133,594 shares of the energy company’s stock worth $6,372,000 after acquiring an additional 22,517 shares during the last quarter. 69.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Susquehanna upped their price target on Devon Energy from $52.00 to $65.00 and gave the company a “positive” rating in a research note on Monday, April 22nd. Barclays initiated coverage on shares of Devon Energy in a research report on Wednesday, April 10th. They issued an “equal weight” rating and a $59.00 target price on the stock. Scotiabank lifted their price target on shares of Devon Energy from $53.00 to $67.00 and gave the company a “sector outperform” rating in a research report on Thursday, April 11th. Citigroup upped their price objective on shares of Devon Energy from $55.00 to $62.00 and gave the stock a “buy” rating in a report on Thursday, April 11th. Finally, StockNews.com upgraded shares of Devon Energy from a “hold” rating to a “buy” rating in a report on Friday. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $58.44.

Devon Energy Trading Up 0.4 %

NYSE DVN opened at $50.54 on Monday. Devon Energy Co. has a 52 week low of $40.47 and a 52 week high of $55.09. The firm has a 50 day moving average of $49.62 and a two-hundred day moving average of $46.25. The stock has a market capitalization of $31.94 billion, a PE ratio of 9.65 and a beta of 2.16. The company has a quick ratio of 0.97, a current ratio of 1.04 and a debt-to-equity ratio of 0.46.

Devon Energy (NYSE:DVN) last posted its quarterly earnings results on Wednesday, May 1st. The energy company reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.06. The company had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $3.64 billion. Devon Energy had a return on equity of 29.02% and a net margin of 22.27%. Devon Energy’s quarterly revenue was down 5.9% on a year-over-year basis. During the same period last year, the firm earned $1.46 earnings per share. As a group, research analysts expect that Devon Energy Co. will post 5.24 EPS for the current fiscal year.

Devon Energy Cuts Dividend

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

About Devon Energy

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.