RPG Investment Advisory LLC Cuts Stock Holdings in Devon Energy Co. (NYSE:DVN)

RPG Investment Advisory LLC lessened its holdings in Devon Energy Co. (NYSE:DVN) by 2.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 248,758 shares of the energy company’s stock after selling 6,321 shares during the quarter. RPG Investment Advisory LLC’s holdings in Devon Energy were worth $8,142,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Private Advisor Group LLC grew its holdings in Devon Energy by 15.1% during the third quarter. Private Advisor Group LLC now owns 96,216 shares of the energy company’s stock worth $3,764,000 after acquiring an additional 12,607 shares during the period. International Assets Investment Management LLC boosted its position in shares of Devon Energy by 4,125.7% during the 3rd quarter. International Assets Investment Management LLC now owns 2,280,961 shares of the energy company’s stock worth $89,231,000 after purchasing an additional 2,226,983 shares in the last quarter. Allworth Financial LP grew its stake in shares of Devon Energy by 8.7% during the 3rd quarter. Allworth Financial LP now owns 6,079 shares of the energy company’s stock worth $238,000 after purchasing an additional 484 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Devon Energy by 19.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 61,970 shares of the energy company’s stock worth $2,414,000 after purchasing an additional 10,141 shares during the period. Finally, Arkadios Wealth Advisors grew its stake in shares of Devon Energy by 31.8% during the 3rd quarter. Arkadios Wealth Advisors now owns 48,024 shares of the energy company’s stock worth $1,879,000 after purchasing an additional 11,596 shares during the period. Institutional investors and hedge funds own 69.72% of the company’s stock.

Devon Energy Price Performance

NYSE:DVN opened at $37.49 on Monday. The firm has a market cap of $24.33 billion, a price-to-earnings ratio of 8.22, a price-to-earnings-growth ratio of 1.20 and a beta of 1.98. The company has a current ratio of 1.04, a quick ratio of 1.01 and a debt-to-equity ratio of 0.57. The company’s 50-day moving average is $34.47 and its two-hundred day moving average is $38.31. Devon Energy Co. has a 12-month low of $30.39 and a 12-month high of $55.09.

Devon Energy (NYSE:DVN) last announced its quarterly earnings data on Tuesday, February 18th. The energy company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.16. The business had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.25 billion. Devon Energy had a net margin of 18.14% and a return on equity of 22.52%. Research analysts expect that Devon Energy Co. will post 4.85 EPS for the current year.

Devon Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a $0.24 dividend. This is a positive change from Devon Energy’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.96 annualized dividend and a yield of 2.56%. Devon Energy’s dividend payout ratio (DPR) is presently 19.30%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on DVN shares. Wolfe Research raised shares of Devon Energy from a “peer perform” rating to an “outperform” rating and set a $45.00 price target on the stock in a research note on Friday, January 3rd. Susquehanna upped their price target on shares of Devon Energy from $50.00 to $52.00 and gave the stock a “positive” rating in a research note on Thursday. Barclays upped their price target on shares of Devon Energy from $43.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Thursday. JPMorgan Chase & Co. cut shares of Devon Energy from an “overweight” rating to a “neutral” rating and set a $43.00 price target on the stock. in a research note on Thursday, December 5th. Finally, Raymond James upped their price target on shares of Devon Energy from $53.00 to $54.00 and gave the stock an “outperform” rating in a research note on Thursday, January 23rd. Ten research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, Devon Energy has a consensus rating of “Moderate Buy” and a consensus price target of $48.83.

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.