Devon Energy Co. (NYSE:DVN) Shares Sold by Pekin Hardy Strauss Inc.

Pekin Hardy Strauss Inc. cut its holdings in Devon Energy Co. (NYSE:DVN) by 0.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 229,692 shares of the energy company’s stock after selling 1,112 shares during the quarter. Devon Energy comprises about 1.1% of Pekin Hardy Strauss Inc.’s investment portfolio, making the stock its 14th biggest holding. Pekin Hardy Strauss Inc.’s holdings in Devon Energy were worth $8,986,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of DVN. Pacer Advisors Inc. grew its holdings in shares of Devon Energy by 16.9% in the 3rd quarter. Pacer Advisors Inc. now owns 11,591,168 shares of the energy company’s stock worth $453,446,000 after acquiring an additional 1,677,652 shares during the last quarter. Victory Capital Management Inc. increased its stake in Devon Energy by 3.8% in the 3rd quarter. Victory Capital Management Inc. now owns 9,971,343 shares of the energy company’s stock worth $390,079,000 after purchasing an additional 361,968 shares in the last quarter. Raymond James & Associates raised its holdings in Devon Energy by 1.5% during the 2nd quarter. Raymond James & Associates now owns 9,183,778 shares of the energy company’s stock worth $435,311,000 after buying an additional 138,919 shares during the period. Dimensional Fund Advisors LP lifted its stake in Devon Energy by 16.7% during the second quarter. Dimensional Fund Advisors LP now owns 8,793,217 shares of the energy company’s stock valued at $416,779,000 after buying an additional 1,255,543 shares in the last quarter. Finally, Smead Capital Management Inc. boosted its holdings in shares of Devon Energy by 3.5% in the third quarter. Smead Capital Management Inc. now owns 5,879,516 shares of the energy company’s stock worth $230,007,000 after buying an additional 198,193 shares during the period. 69.72% of the stock is owned by institutional investors and hedge funds.

Devon Energy Price Performance

NYSE DVN opened at $39.45 on Friday. The company has a current ratio of 1.11, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. Devon Energy Co. has a 1 year low of $37.76 and a 1 year high of $55.09. The company has a fifty day simple moving average of $39.94 and a 200 day simple moving average of $43.95. The company has a market cap of $25.91 billion, a P/E ratio of 7.32, a P/E/G ratio of 1.22 and a beta of 2.03.

Devon Energy (NYSE:DVN) last posted its quarterly earnings data on Tuesday, November 5th. The energy company reported $1.10 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.01. The company had revenue of $4.02 billion during the quarter, compared to analysts’ expectations of $3.72 billion. Devon Energy had a return on equity of 24.73% and a net margin of 21.71%. Devon Energy’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.65 earnings per share. On average, sell-side analysts predict that Devon Energy Co. will post 4.79 EPS for the current year.

Devon Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date is Friday, December 13th. Devon Energy’s dividend payout ratio is presently 16.33%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on DVN. BMO Capital Markets cut their price target on shares of Devon Energy from $52.00 to $48.00 and set an “outperform” rating on the stock in a report on Friday, October 4th. Barclays decreased their target price on Devon Energy from $55.00 to $46.00 and set an “equal weight” rating for the company in a research report on Thursday, October 3rd. TD Cowen dropped their price target on Devon Energy from $54.00 to $46.00 and set a “hold” rating on the stock in a research report on Tuesday, November 5th. Mizuho decreased their price objective on Devon Energy from $53.00 to $51.00 and set an “outperform” rating for the company in a research report on Wednesday, October 9th. Finally, Scotiabank lowered their price objective on shares of Devon Energy from $60.00 to $48.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $51.85.

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.