Devon Energy Co. (NYSE:DVN) Holdings Decreased by Assetmark Inc.

Assetmark Inc. lowered its stake in Devon Energy Co. (NYSE:DVN) by 24.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,348 shares of the energy company’s stock after selling 2,637 shares during the quarter. Assetmark Inc.’s holdings in Devon Energy were worth $327,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of DVN. Verdence Capital Advisors LLC acquired a new stake in shares of Devon Energy in the 3rd quarter worth approximately $368,000. Equitable Trust Co. raised its holdings in Devon Energy by 6.4% during the third quarter. Equitable Trust Co. now owns 6,328 shares of the energy company’s stock worth $248,000 after purchasing an additional 379 shares in the last quarter. Capital Performance Advisors LLP acquired a new stake in Devon Energy in the third quarter worth approximately $35,000. Philip James Wealth Mangement LLC bought a new position in Devon Energy during the 3rd quarter valued at $717,000. Finally, Stiles Financial Services Inc increased its position in shares of Devon Energy by 8.9% during the 3rd quarter. Stiles Financial Services Inc now owns 50,959 shares of the energy company’s stock valued at $1,993,000 after purchasing an additional 4,159 shares during the period. Institutional investors own 69.72% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $57.00 target price on shares of Devon Energy in a research note on Tuesday, September 3rd. Piper Sandler reduced their price objective on shares of Devon Energy from $57.00 to $56.00 and set an “overweight” rating for the company in a research report on Tuesday, October 15th. Mizuho dropped their target price on shares of Devon Energy from $53.00 to $51.00 and set an “outperform” rating on the stock in a report on Wednesday, October 9th. Benchmark reissued a “hold” rating on shares of Devon Energy in a research note on Tuesday, October 15th. Finally, Morgan Stanley decreased 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 report on Monday, September 16th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Devon Energy has a consensus rating of “Hold” and a consensus price target of $51.80.

Devon Energy Stock Down 2.3 %

DVN stock opened at $38.47 on Friday. The company has a 50 day moving average of $40.09 and a two-hundred day moving average of $44.37. The company has a market cap of $25.27 billion, a price-to-earnings ratio of 7.14, a PEG ratio of 1.22 and a beta of 2.03. Devon Energy Co. has a 12-month low of $37.76 and a 12-month high of $55.09. 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 (NYSE:DVN) last announced its quarterly earnings data on Tuesday, November 5th. The energy company reported $1.10 earnings per share (EPS) 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 business 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 earned $1.65 earnings per share. Devon Energy’s quarterly revenue was up 4.9% compared to the same quarter last year. On average, equities analysts anticipate that Devon Energy Co. will post 4.84 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, December 30th. Investors of record on Friday, December 13th will be paid a $0.22 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.88 annualized dividend and a dividend yield of 2.29%. Devon Energy’s payout ratio is 16.33%.

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.