UMB Bank n.a. Sells 695 Shares of Devon Energy Co. (NYSE:DVN)

UMB Bank n.a. lessened its stake in Devon Energy Co. (NYSE:DVN) by 10.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,865 shares of the energy company’s stock after selling 695 shares during the quarter. UMB Bank n.a.’s holdings in Devon Energy were worth $229,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently bought and sold shares of DVN. Auxier Asset Management bought a new position in Devon Energy during the fourth quarter worth about $426,000. Centaurus Financial Inc. lifted its stake in Devon Energy by 4.2% in the fourth quarter. Centaurus Financial Inc. now owns 35,900 shares of the energy company’s stock valued at $1,626,000 after acquiring an additional 1,447 shares during the last quarter. Syon Capital LLC grew its holdings in Devon Energy by 5.6% during the fourth quarter. Syon Capital LLC now owns 14,957 shares of the energy company’s stock worth $678,000 after purchasing an additional 791 shares during the period. EP Wealth Advisors LLC boosted its stake in shares of Devon Energy by 6.9% during the 4th quarter. EP Wealth Advisors LLC now owns 8,205 shares of the energy company’s stock worth $372,000 after acquiring an additional 527 shares during the period. Finally, Wellington Management Group LLP boosted its position in shares of Devon Energy by 9.8% in the fourth quarter. Wellington Management Group LLP now owns 173,024 shares of the energy company’s stock valued at $7,838,000 after acquiring an additional 15,384 shares during the period. Institutional investors own 69.72% of the company’s stock.

Devon Energy Price Performance

Shares of Devon Energy stock opened at $42.96 on Friday. The company has a current ratio of 1.11, a quick ratio of 1.03 and a debt-to-equity ratio of 0.45. Devon Energy Co. has a 12 month low of $37.76 and a 12 month high of $55.09. The stock has a 50 day moving average of $42.37 and a 200 day moving average of $46.60. The firm has a market cap of $26.90 billion, a PE ratio of 7.80, a PEG ratio of 1.27 and a beta of 2.02.

Devon Energy (NYSE:DVN) last released its quarterly earnings results on Tuesday, August 6th. The energy company reported $1.41 EPS for the quarter, topping the consensus estimate of $1.26 by $0.15. The company had revenue of $3.92 billion during the quarter, compared to analyst estimates of $3.90 billion. Devon Energy had a return on equity of 29.14% and a net margin of 22.60%. The firm’s revenue was up 13.4% on a year-over-year basis. During the same quarter last year, the business posted $1.18 earnings per share. On average, research analysts expect that Devon Energy Co. will post 5.01 EPS for the current fiscal year.

Devon Energy Announces Dividend

The company 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. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.05%. Devon Energy’s payout ratio is 15.97%.

Analysts Set New Price Targets

DVN has been the subject of several analyst reports. UBS Group dropped their price objective on Devon Energy from $53.00 to $47.00 and set a “neutral” rating for the company in a report on Wednesday, September 18th. Mizuho reduced their price target on Devon Energy from $53.00 to $51.00 and set an “outperform” rating on the stock in a report on Wednesday. Jefferies Financial Group began coverage on Devon Energy in a research note on Thursday, October 3rd. They issued a “hold” rating and a $45.00 price target for the company. Susquehanna lowered their price target on shares of Devon Energy from $65.00 to $63.00 and set a “positive” rating for the company in a report on Wednesday, September 4th. Finally, Scotiabank reduced their price objective on shares of Devon Energy from $60.00 to $48.00 and set a “sector outperform” rating on the stock in a research note on Thursday. Eight investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $52.63.

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.