First Horizon Advisors Inc. Has $57,000 Position in Devon Energy Co. (NYSE:DVN)

First Horizon Advisors Inc. decreased its holdings in shares of Devon Energy Co. (NYSE:DVN) by 24.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,264 shares of the energy company’s stock after selling 400 shares during the period. First Horizon Advisors Inc.’s holdings in Devon Energy were worth $57,000 as of its most recent SEC filing.

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

Devon Energy Stock Up 0.2 %

DVN opened at $50.98 on Wednesday. The company has a 50 day moving average of $49.89 and a 200 day moving average of $46.28. The company has a current ratio of 1.04, a quick ratio of 0.97 and a debt-to-equity ratio of 0.46. Devon Energy Co. has a 12 month low of $40.47 and a 12 month high of $55.09. The company has a market cap of $32.22 billion, a PE ratio of 9.73 and a beta of 2.16.

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

Devon Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be given 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 dividend yield of 1.73%. Devon Energy’s dividend payout ratio (DPR) is currently 16.79%.

Analysts Set New Price Targets

Several brokerages have recently commented on DVN. Mizuho increased their target price on shares of Devon Energy from $53.00 to $57.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. Raymond James dropped their target price on shares of Devon Energy from $53.00 to $52.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 24th. Wells Fargo & Company raised Devon Energy from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $46.00 to $59.00 in a report on Monday, April 1st. StockNews.com upgraded Devon Energy from a “hold” rating to a “buy” rating in a report on Friday, May 3rd. Finally, Piper Sandler upped their price objective on Devon Energy from $59.00 to $60.00 and gave the company an “overweight” rating in a research note on Friday, April 19th. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $58.44.

Insider Activity at Devon Energy

In other Devon Energy news, EVP Tana K. Cashion sold 20,000 shares of the firm’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $51.04, for a total value of $1,020,800.00. Following the completion of the transaction, the executive vice president now directly owns 104,182 shares of the company’s stock, valued at approximately $5,317,449.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.63% of the stock is owned by corporate insiders.

Devon Energy Company 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.