Centaurus Financial Inc. Lowers Position in Devon Energy Co. (NYSE:DVN)

Centaurus Financial Inc. lowered its stake in shares of Devon Energy Co. (NYSE:DVN) by 10.6% during the second quarter, HoldingsChannel.com reports. The firm owned 9,355 shares of the energy company’s stock after selling 1,112 shares during the period. Centaurus Financial Inc.’s holdings in Devon Energy were worth $443,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Salem Investment Counselors Inc. increased its position in Devon Energy by 31.4% during the 1st quarter. Salem Investment Counselors Inc. now owns 832 shares of the energy company’s stock worth $42,000 after purchasing an additional 199 shares in the last quarter. Retirement Group LLC grew its stake in Devon Energy by 21.8% during the first quarter. Retirement Group LLC now owns 1,110 shares of the energy company’s stock worth $56,000 after buying an additional 199 shares during the period. Whittier Trust Co. of Nevada Inc. increased its position in shares of Devon Energy by 7.4% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 3,046 shares of the energy company’s stock worth $153,000 after acquiring an additional 209 shares in the last quarter. MCF Advisors LLC raised its stake 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 valued at $202,000 after acquiring an additional 215 shares during the period. Finally, Annex Advisory Services LLC lifted its holdings in shares of Devon Energy by 0.8% during the 2nd quarter. Annex Advisory Services LLC now owns 27,651 shares of the energy company’s stock valued at $1,311,000 after acquiring an additional 223 shares in the last quarter. Institutional investors and hedge funds own 69.72% of the company’s stock.

Devon Energy Stock Performance

Shares of DVN opened at $42.42 on Friday. 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 12-month low of $37.76 and a 12-month high of $55.09. The business’s fifty day moving average price is $42.66 and its 200 day moving average price is $46.83. The stock has a market capitalization of $26.81 billion, a PE ratio of 8.10, a price-to-earnings-growth ratio of 1.22 and a beta of 2.02.

Devon Energy (NYSE:DVN) last posted its quarterly earnings results on Tuesday, August 6th. The energy company reported $1.41 EPS for the quarter, beating the consensus estimate of $1.26 by $0.15. The business had revenue of $3.92 billion during the quarter, compared to analyst estimates of $3.90 billion. Devon Energy had a net margin of 22.60% and a return on equity of 29.14%. The company’s quarterly revenue was up 13.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.18 EPS. Equities research analysts forecast that Devon Energy Co. will post 5.11 EPS for the current year.

Devon Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date was Friday, September 13th. Devon Energy’s payout ratio is 16.79%.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Sanford C. Bernstein lowered their price target on Devon Energy from $48.00 to $43.00 and set a “market perform” rating for the company in a report on Wednesday, July 17th. StockNews.com downgraded Devon Energy from a “buy” rating to a “hold” rating in a report on Monday, September 2nd. Piper Sandler reduced their price target on Devon Energy from $65.00 to $57.00 and set an “overweight” rating on the stock in a research report on Thursday, August 15th. Susquehanna lowered their price objective on shares of Devon Energy from $65.00 to $63.00 and set a “positive” rating for the company in a research report on Wednesday, September 4th. Finally, Bank of America reissued a “buy” rating and set a $64.00 target price on shares of Devon Energy in a research report on Friday, June 14th. Eight equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $53.79.

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.