International Assets Investment Management LLC Sells 2,229,564 Shares of Devon Energy Co. (NYSE:DVN)

International Assets Investment Management LLC lowered its stake in Devon Energy Co. (NYSE:DVN) by 97.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 51,397 shares of the energy company’s stock after selling 2,229,564 shares during the period. International Assets Investment Management LLC’s holdings in Devon Energy were worth $1,717,000 as of its most recent filing with the SEC.

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

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Piper Sandler decreased 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. Susquehanna dropped their target price on shares of Devon Energy from $63.00 to $62.00 and set a “positive” rating for the company in a report on Friday, October 18th. TD Cowen decreased their price target on shares of Devon Energy from $54.00 to $46.00 and set a “hold” rating on the stock in a report on Tuesday, November 5th. Evercore ISI dropped their price objective on shares of Devon Energy from $55.00 to $50.00 and set an “in-line” rating for the company in a research note on Monday, September 30th. Finally, Morgan Stanley decreased their target price on shares of Devon Energy from $55.00 to $51.00 and set an “overweight” rating on the stock in a research note on Monday, September 16th. Eleven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $49.81.

Devon Energy Trading Up 1.3 %

DVN opened at $35.15 on Thursday. The stock has a market cap of $23.09 billion, a PE ratio of 6.52, a price-to-earnings-growth ratio of 1.10 and a beta of 2.00. The company has a quick ratio of 1.01, a current ratio of 1.11 and a debt-to-equity ratio of 0.61. Devon Energy Co. has a twelve month low of $30.39 and a twelve month high of $55.09. The company has a fifty day moving average of $35.74 and a 200-day moving average of $40.77.

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, topping the consensus estimate of $1.09 by $0.01. Devon Energy had a return on equity of 24.73% and a net margin of 21.71%. The firm had revenue of $4.02 billion during the quarter, compared to analyst estimates of $3.72 billion. During the same period last year, the company posted $1.65 EPS. The business’s quarterly revenue was up 4.9% on a year-over-year basis. On average, sell-side analysts predict that Devon Energy Co. will post 4.79 EPS for the current year.

Devon Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Friday, December 13th were paid a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 2.50%. The ex-dividend date of this dividend was Friday, December 13th. Devon Energy’s dividend payout ratio (DPR) is presently 16.33%.

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.