Cadent Capital Advisors LLC Sells 289 Shares of Devon Energy Co. (NYSE:DVN)

Cadent Capital Advisors LLC reduced its holdings in Devon Energy Co. (NYSE:DVN) by 3.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 9,104 shares of the energy company’s stock after selling 289 shares during the quarter. Cadent Capital Advisors LLC’s holdings in Devon Energy were worth $298,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of DVN. William B. Walkup & Associates Inc. bought a new stake in Devon Energy during the second quarter worth about $1,026,000. Legacy Investment Solutions LLC bought a new position in Devon Energy during the third quarter valued at approximately $8,002,000. Bridgewater Associates LP bought a new position in shares of Devon Energy during the 3rd quarter valued at $9,426,000. Petrus Trust Company LTA boosted its position in Devon Energy by 394.7% in the third quarter. Petrus Trust Company LTA now owns 21,827 shares of the energy company’s stock worth $854,000 after purchasing an additional 17,415 shares during the last quarter. Finally, CIBC Asset Management Inc increased its stake in shares of Devon Energy by 6.3% in the 3rd quarter. CIBC Asset Management Inc now owns 107,182 shares of the energy company’s stock worth $4,193,000 after purchasing an additional 6,358 shares in the last quarter. 69.72% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on DVN. Morgan Stanley cut their target price on Devon Energy from $55.00 to $51.00 and set an “overweight” rating for the company in a research report on Monday, September 16th. StockNews.com upgraded Devon Energy from a “sell” rating to a “hold” rating in a research report on Friday, January 3rd. Raymond James dropped their price target on shares of Devon Energy from $58.00 to $51.00 in a research note on Tuesday, November 5th. Susquehanna cut their price target on shares of Devon Energy from $63.00 to $62.00 and set a “positive” rating on the stock in a report on Friday, October 18th. Finally, Citigroup reduced their price target on shares of Devon Energy from $55.00 to $48.00 and set a “buy” rating for the company in a report on Tuesday, November 26th. Eleven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $49.43.

Devon Energy Price Performance

NYSE DVN traded up $0.91 during trading hours on Monday, reaching $36.90. The company’s stock had a trading volume of 7,602,393 shares, compared to its average volume of 10,708,998. The company’s 50-day moving average is $35.62 and its two-hundred day moving average is $40.56. Devon Energy Co. has a 1-year low of $30.39 and a 1-year high of $55.09. The firm has a market capitalization of $24.24 billion, a price-to-earnings ratio of 6.85, a P/E/G ratio of 1.07 and a beta of 1.99. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.11 and a quick ratio of 1.01.

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

Devon Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Friday, December 13th were given a dividend of $0.22 per share. The ex-dividend date was Friday, December 13th. This represents a $0.88 dividend on an annualized basis and a yield of 2.38%. Devon Energy’s payout ratio is 16.33%.

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.