Devon Energy Co. (NYSE:DVN) Shares Sold by Janus Henderson Group PLC

Janus Henderson Group PLC reduced its holdings in Devon Energy Co. (NYSE:DVN) by 9.2% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 68,273 shares of the energy company’s stock after selling 6,900 shares during the quarter. Janus Henderson Group PLC’s holdings in Devon Energy were worth $2,670,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in DVN. Triad Wealth Partners LLC acquired a new stake in shares of Devon Energy in the second quarter valued at about $27,000. 1620 Investment Advisors Inc. acquired a new stake in shares of Devon Energy in the second quarter valued at about $34,000. Capital Performance Advisors LLP acquired a new stake in shares of Devon Energy in the third quarter valued at about $35,000. PSI Advisors LLC grew its stake in shares of Devon Energy by 66.7% in the second quarter. PSI Advisors LLC now owns 750 shares of the energy company’s stock valued at $36,000 after buying an additional 300 shares in the last quarter. Finally, Future Financial Wealth Managment LLC acquired a new stake in shares of Devon Energy in the third quarter valued at about $39,000. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Morgan Stanley lowered their target price on Devon Energy from $55.00 to $51.00 and set an “overweight” rating for the company in a research note on Monday, September 16th. UBS Group reduced their price target on Devon Energy from $53.00 to $47.00 and set a “neutral” rating for the company in a report on Wednesday, September 18th. StockNews.com downgraded Devon Energy from a “hold” rating to a “sell” rating in a report on Thursday, November 7th. BMO Capital Markets reduced their price target on Devon Energy from $52.00 to $48.00 and set an “outperform” rating for the company in a report on Friday, October 4th. Finally, Susquehanna reduced their price target on Devon Energy from $63.00 to $62.00 and set a “positive” rating for the company in a report on Friday, October 18th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $50.75.

Devon Energy Stock Up 0.1 %

DVN opened at $34.77 on Thursday. Devon Energy Co. has a 12 month low of $34.53 and a 12 month high of $55.09. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.11 and a quick ratio of 1.01. The stock has a market cap of $22.84 billion, a P/E ratio of 6.45, a P/E/G ratio of 1.11 and a beta of 1.99. The stock’s 50 day moving average price is $39.07 and its 200 day moving average price is $42.78.

Devon Energy (NYSE:DVN) last posted its earnings results on Tuesday, November 5th. The energy company reported $1.10 EPS for the quarter, beating 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 firm had revenue of $4.02 billion for the quarter, compared to analysts’ expectations of $3.72 billion. During the same period last year, the firm earned $1.65 EPS. The firm’s revenue was up 4.9% compared to the same quarter last year. As a group, research analysts predict that Devon Energy Co. will post 4.79 earnings per share for the current year.

Devon Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, December 13th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.53%. The ex-dividend date of this dividend is Friday, December 13th. Devon Energy’s dividend payout ratio (DPR) is presently 16.33%.

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.