Sentry Investment Management LLC Lowers Stock Holdings in Devon Energy Co. (NYSE:DVN)

Sentry Investment Management LLC cut its holdings in shares of Devon Energy Co. (NYSE:DVN) by 17.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,802 shares of the energy company’s stock after selling 574 shares during the quarter. Sentry Investment Management LLC’s holdings in Devon Energy were worth $133,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. Triad Wealth Partners LLC acquired a new position in shares of Devon Energy during the 2nd quarter valued at about $27,000. Manchester Capital Management LLC acquired a new position in Devon Energy during the fourth quarter worth approximately $28,000. Tradewinds Capital Management LLC purchased a new position in Devon Energy during the first quarter worth approximately $30,000. Jones Financial Companies Lllp raised its stake in Devon Energy by 104.8% during the fourth quarter. Jones Financial Companies Lllp now owns 731 shares of the energy company’s stock worth $33,000 after purchasing an additional 374 shares during the period. Finally, 1620 Investment Advisors Inc. acquired a new position in shares of Devon Energy in the 2nd quarter valued at $34,000. 69.72% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

DVN has been the subject of a number of research analyst reports. BMO Capital Markets upgraded Devon Energy to a “strong-buy” rating in a report on Wednesday, July 3rd. Scotiabank cut their price objective on Devon Energy from $67.00 to $60.00 and set a “sector outperform” rating on the stock in a report on Friday, July 12th. Wolfe Research started coverage on Devon Energy in a report on Thursday, July 18th. They set a “peer perform” rating for the company. JPMorgan Chase & Co. cut their price target on shares of Devon Energy from $64.00 to $51.00 and set an “overweight” rating on the stock in a report on Thursday. Finally, Susquehanna reduced their price target on shares of Devon Energy from $65.00 to $63.00 and set a “positive” rating on the stock in a research report on Wednesday, September 4th. Six research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Devon Energy has a consensus rating of “Moderate Buy” and a consensus price target of $57.81.

Devon Energy Trading Up 0.2 %

NYSE:DVN opened at $40.01 on Friday. Devon Energy Co. has a one year low of $39.02 and a one year high of $55.09. The business’s 50-day simple moving average is $44.79 and its 200 day simple moving average is $47.44. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.03 and a current ratio of 1.11. The stock has a market cap of $25.29 billion, a price-to-earnings ratio of 7.64, a price-to-earnings-growth ratio of 1.17 and a beta of 2.03.

Devon Energy (NYSE:DVN) last issued its quarterly earnings results on Tuesday, August 6th. The energy company reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.15. The business had revenue of $3.92 billion during the quarter, compared to analyst estimates of $3.90 billion. Devon Energy had a net margin of 22.60% and a return on equity of 29.14%. The business’s revenue was up 13.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.18 earnings per share. As a group, sell-side analysts predict that Devon Energy Co. will post 5.37 earnings per share for the current fiscal year.

Devon Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.88 dividend on an annualized basis and a yield of 2.20%. Devon Energy’s dividend payout ratio (DPR) is 16.79%.

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.