CENTRAL TRUST Co Cuts Holdings in Devon Energy Co. (NYSE:DVN)

CENTRAL TRUST Co lessened its position in shares of Devon Energy Co. (NYSE:DVN) by 44.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,802 shares of the energy company’s stock after selling 3,086 shares during the period. CENTRAL TRUST Co’s holdings in Devon Energy were worth $149,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Keene & Associates Inc. grew its holdings in shares of Devon Energy by 1.6% during the 3rd quarter. Keene & Associates Inc. now owns 73,264 shares of the energy company’s stock worth $2,866,000 after purchasing an additional 1,163 shares during the period. Great Lakes Retirement Inc. lifted its position in Devon Energy by 3.6% during the third quarter. Great Lakes Retirement Inc. now owns 148,674 shares of the energy company’s stock valued at $5,816,000 after buying an additional 5,104 shares in the last quarter. Brighton Jones LLC grew its stake in Devon Energy by 0.7% during the third quarter. Brighton Jones LLC now owns 42,510 shares of the energy company’s stock worth $1,663,000 after buying an additional 310 shares during the period. International Assets Investment Management LLC raised its stake in shares of Devon Energy by 4,125.7% in the 3rd quarter. International Assets Investment Management LLC now owns 2,280,961 shares of the energy company’s stock valued at $89,231,000 after acquiring an additional 2,226,983 shares during the period. Finally, Courier Capital LLC raised its stake in shares of Devon Energy by 6.6% in the 3rd quarter. Courier Capital LLC now owns 17,305 shares of the energy company’s stock valued at $677,000 after acquiring an additional 1,079 shares during the period. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently issued reports on DVN. Evercore ISI lowered their price target on Devon Energy from $55.00 to $50.00 and set an “in-line” rating for the company in a report on Monday, September 30th. Susquehanna dropped their target price on Devon Energy from $63.00 to $62.00 and set a “positive” rating on the stock in a report on Friday, October 18th. StockNews.com downgraded shares of Devon Energy from a “buy” rating to a “hold” rating in a research report on Monday, September 2nd. Scotiabank decreased their target price on shares of Devon Energy from $60.00 to $48.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Finally, Morgan Stanley dropped their price target 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. Nine research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Devon Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $52.53.

Devon Energy Stock Performance

Devon Energy stock opened at $39.19 on Monday. The company has a market cap of $24.54 billion, a PE ratio of 7.11, a P/E/G ratio of 1.22 and a beta of 2.02. Devon Energy Co. has a 12 month low of $37.76 and a 12 month high of $55.09. The company has a fifty day moving average price of $41.62 and a two-hundred day moving average price of $45.74. 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 (NYSE:DVN) last announced its quarterly earnings data on Tuesday, August 6th. The energy company reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.15. Devon Energy had a net margin of 22.60% and a return on equity of 29.14%. The business had revenue of $3.92 billion during the quarter, compared to the consensus estimate of $3.90 billion. During the same quarter in the prior year, the firm earned $1.18 EPS. The company’s revenue for the quarter was up 13.4% compared to the same quarter last year. Research analysts expect that Devon Energy Co. will post 4.98 earnings per share for the current year.

Devon Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.25%. The ex-dividend date was Friday, September 13th. Devon Energy’s dividend payout ratio (DPR) is 15.97%.

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.