Venture Visionary Partners LLC Trims Stock Position in Devon Energy Co. (NYSE:DVN)

Venture Visionary Partners LLC lowered its position in shares of Devon Energy Co. (NYSE:DVN) by 37.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,647 shares of the energy company’s stock after selling 14,111 shares during the period. Venture Visionary Partners LLC’s holdings in Devon Energy were worth $925,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. William B. Walkup & Associates Inc. purchased a new position in Devon Energy in the 2nd quarter worth approximately $1,026,000. Tradewinds Capital Management LLC bought a new stake in shares of Devon Energy in the 1st quarter worth approximately $30,000. Gordian Capital Singapore Pte Ltd bought a new stake in shares of Devon Energy in the 2nd quarter worth approximately $711,000. MCF Advisors LLC lifted its holdings in shares of Devon Energy by 5.6% in the 1st quarter. MCF Advisors LLC now owns 4,023 shares of the energy company’s stock worth $202,000 after acquiring an additional 215 shares during the last quarter. Finally, CWM LLC lifted its holdings in shares of Devon Energy by 73.4% in the 3rd quarter. CWM LLC now owns 38,969 shares of the energy company’s stock worth $1,524,000 after acquiring an additional 16,490 shares during the last quarter. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on DVN. BMO Capital Markets lowered their price objective on shares of Devon Energy from $52.00 to $48.00 and set an “outperform” rating for the company in a report on Friday, October 4th. Jefferies Financial Group began coverage on shares of Devon Energy in a report on Thursday, October 3rd. They issued a “hold” rating and a $45.00 price objective for the company. Royal Bank of Canada reiterated a “sector perform” rating and set a $57.00 price target on shares of Devon Energy in a report on Tuesday, September 3rd. JPMorgan Chase & Co. lowered their price target on shares of Devon Energy from $64.00 to $51.00 and set an “overweight” rating for the company in a report on Thursday, September 12th. Finally, Evercore ISI lowered their price target on shares of Devon Energy from $55.00 to $50.00 and set an “in-line” rating for the company in a report on Monday, September 30th. Nine equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, Devon Energy has a consensus rating of “Moderate Buy” and a consensus price target of $52.53.

Devon Energy Stock Up 0.2 %

NYSE:DVN opened at $40.17 on Wednesday. The firm’s 50-day moving average price is $42.05 and its 200-day moving average price is $46.14. The company has a market capitalization of $25.39 billion, a PE ratio of 7.67, a P/E/G ratio of 1.27 and a beta of 2.02. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.11 and a quick ratio of 1.03. Devon Energy Co. has a 1-year low of $37.76 and a 1-year high of $55.09.

Devon Energy (NYSE:DVN) last released its earnings results on Tuesday, August 6th. The energy company reported $1.41 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.15. The firm had revenue of $3.92 billion for the quarter, compared to the consensus estimate of $3.90 billion. Devon Energy had a net margin of 22.60% and a return on equity of 29.14%. The company’s revenue was up 13.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.18 EPS. On average, equities analysts predict that Devon Energy Co. will post 5.01 EPS for the current fiscal year.

Devon Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.19%. The ex-dividend date of this dividend was Friday, September 13th. 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.