Kathmere Capital Management LLC Sells 3,536 Shares of Devon Energy Co. (NYSE:DVN)

Kathmere Capital Management LLC lowered its stake in Devon Energy Co. (NYSE:DVN) by 34.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,854 shares of the energy company’s stock after selling 3,536 shares during the quarter. Kathmere Capital Management LLC’s holdings in Devon Energy were worth $224,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of DVN. Capital Performance Advisors LLP acquired a new position in shares of Devon Energy during the 3rd quarter worth approximately $35,000. Future Financial Wealth Managment LLC bought a new position in shares of Devon Energy in the third quarter valued at $39,000. True Wealth Design LLC increased its holdings in Devon Energy by 3,889.3% during the third quarter. True Wealth Design LLC now owns 1,117 shares of the energy company’s stock worth $44,000 after buying an additional 1,089 shares during the last quarter. Hazlett Burt & Watson Inc. raised its position in Devon Energy by 29.8% during the third quarter. Hazlett Burt & Watson Inc. now owns 1,263 shares of the energy company’s stock worth $49,000 after acquiring an additional 290 shares in the last quarter. Finally, Activest Wealth Management lifted its stake in Devon Energy by 60.4% in the third quarter. Activest Wealth Management now owns 1,275 shares of the energy company’s stock valued at $50,000 after acquiring an additional 480 shares during the last quarter. Institutional investors own 69.72% of the company’s stock.

Devon Energy Trading Down 0.0 %

Shares of NYSE:DVN opened at $38.42 on Friday. The company has a market capitalization of $25.24 billion, a P/E ratio of 7.13, a P/E/G ratio of 1.14 and a beta of 2.00. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.11 and a quick ratio of 1.01. The business’s 50 day simple moving average is $35.50 and its 200 day simple moving average is $40.40. Devon Energy Co. has a 1 year low of $30.39 and a 1 year high of $55.09.

Devon Energy (NYSE:DVN) last issued its quarterly earnings results on Tuesday, November 5th. The energy company reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $0.01. Devon Energy had a return on equity of 24.73% and a net margin of 21.71%. The company had revenue of $4.02 billion for the quarter, compared to analysts’ expectations of $3.72 billion. During the same quarter last year, the business earned $1.65 earnings per share. Devon Energy’s revenue was up 4.9% on a year-over-year basis. On average, research analysts anticipate that Devon Energy Co. will post 4.72 EPS for the current fiscal year.

Devon Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Friday, December 13th were given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.29%. The ex-dividend date of this dividend was Friday, December 13th. Devon Energy’s payout ratio is presently 16.33%.

Analyst Ratings Changes

DVN has been the topic of several recent analyst reports. Raymond James lowered their price objective on shares of Devon Energy from $58.00 to $51.00 in a research note on Tuesday, November 5th. JPMorgan Chase & Co. lowered Devon Energy from an “overweight” rating to a “neutral” rating and set a $43.00 price objective on the stock. in a research note on Thursday, December 5th. Royal Bank of Canada reiterated a “sector perform” rating and set a $50.00 target price on shares of Devon Energy in a research note on Friday, January 10th. Piper Sandler dropped their price target on Devon Energy from $57.00 to $53.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 17th. Finally, Benchmark raised Devon Energy from a “hold” rating to a “buy” rating and set a $44.00 price target for the company in a report on Tuesday. Nine investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, Devon Energy currently has an average rating of “Moderate Buy” and an average price target of $49.27.

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.