Janney Montgomery Scott LLC Lowers Holdings in Devon Energy Co. (NYSE:DVN)

Janney Montgomery Scott LLC lessened its stake in Devon Energy Co. (NYSE:DVN) by 12.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 233,760 shares of the energy company’s stock after selling 33,950 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Devon Energy were worth $7,651,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. EnCap Energy Capital Fund XI L.P. purchased a new position in shares of Devon Energy during the 3rd quarter valued at about $461,857,000. EnCap Partners GP LLC bought a new position in Devon Energy in the 3rd quarter worth $408,653,000. EnCap Energy Capital Fund X L.P. purchased a new stake in Devon Energy in the 3rd quarter worth $230,928,000. International Assets Investment Management LLC raised its holdings in Devon Energy by 4,125.7% during the third 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, Pacer Advisors Inc. lifted its position in shares of Devon Energy by 16.9% in the third quarter. Pacer Advisors Inc. now owns 11,591,168 shares of the energy company’s stock valued at $453,446,000 after acquiring an additional 1,677,652 shares in the last quarter. 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 several research analyst reports. Susquehanna cut their target price on Devon Energy from $63.00 to $62.00 and set a “positive” rating for the company in a research report on Friday, October 18th. Wolfe Research raised shares of Devon Energy from a “peer perform” rating to an “outperform” rating and set a $45.00 target price for the company in a research note on Friday, January 3rd. Citigroup decreased their price objective on Devon Energy from $55.00 to $48.00 and set a “buy” rating on the stock in a report on Tuesday, November 26th. Barclays cut their target price on shares of Devon Energy from $55.00 to $46.00 and set an “equal weight” rating for the company in a report on Thursday, October 3rd. Finally, Raymond James upped their price target on shares of Devon Energy from $53.00 to $54.00 and gave the company an “outperform” rating in a research note on Thursday, January 23rd. Nine research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $49.41.

Devon Energy Stock Down 1.3 %

Shares of NYSE DVN opened at $34.88 on Wednesday. The company has a quick ratio of 1.01, a current ratio of 1.11 and a debt-to-equity ratio of 0.61. The firm has a 50-day moving average price of $35.14 and a 200 day moving average price of $39.70. Devon Energy Co. has a 52 week low of $30.39 and a 52 week high of $55.09. The stock has a market capitalization of $22.91 billion, a price-to-earnings ratio of 6.47, a price-to-earnings-growth ratio of 1.21 and a beta of 2.00.

Devon Energy (NYSE:DVN) last announced its quarterly earnings results on Tuesday, November 5th. The energy company reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.01. The company had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $3.72 billion. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.65 earnings per share. Equities research analysts anticipate that Devon Energy Co. will post 4.7 EPS for the current fiscal year.

Devon Energy Dividend Announcement

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 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date of this dividend was Friday, December 13th. Devon Energy’s payout ratio is 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.