Park Place Capital Corp Sells 335 Shares of Devon Energy Co. (NYSE:DVN)

Park Place Capital Corp lessened its holdings in Devon Energy Co. (NYSE:DVN) by 3.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,449 shares of the energy company’s stock after selling 335 shares during the quarter. Park Place Capital Corp’s holdings in Devon Energy were worth $277,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the business. Capital Performance Advisors LLP acquired a new position in Devon Energy in the 3rd quarter valued at approximately $35,000. Future Financial Wealth Managment LLC bought a new stake in shares of Devon Energy in the third quarter worth $39,000. True Wealth Design LLC increased its holdings in Devon Energy by 3,889.3% in the third quarter. True Wealth Design LLC now owns 1,117 shares of the energy company’s stock valued at $44,000 after purchasing an additional 1,089 shares during the period. Hazlett Burt & Watson Inc. raised its position in Devon Energy by 29.8% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 1,263 shares of the energy company’s stock worth $49,000 after purchasing an additional 290 shares during the last quarter. Finally, Activest Wealth Management lifted its holdings in Devon Energy by 60.4% during the 3rd quarter. Activest Wealth Management now owns 1,275 shares of the energy company’s stock worth $50,000 after buying an additional 480 shares during the period. Institutional investors own 69.72% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on DVN shares. StockNews.com raised Devon Energy from a “sell” rating to a “hold” rating in a research note on Friday, January 3rd. Sanford C. Bernstein raised shares of Devon Energy from a “market perform” rating to an “outperform” rating and set a $45.00 target price for the company in a research report on Wednesday, January 15th. Susquehanna dropped their price target on shares of Devon Energy from $63.00 to $62.00 and set a “positive” rating on the stock in a research report on Friday, October 18th. Wolfe Research upgraded shares of Devon Energy from a “peer perform” rating to an “outperform” rating and set a $45.00 price objective for the company in a research report on Friday, January 3rd. Finally, BMO Capital Markets dropped their target price on shares of Devon Energy from $52.00 to $48.00 and set an “outperform” rating on the stock in a report on Friday, October 4th. Nine research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $49.27.

Devon Energy Trading Down 0.7 %

NYSE DVN opened at $36.46 on Thursday. The company has a quick ratio of 1.01, a current ratio of 1.11 and a debt-to-equity ratio of 0.61. Devon Energy Co. has a 52 week low of $30.39 and a 52 week high of $55.09. The business has a 50 day moving average price of $35.37 and a 200-day moving average price of $40.05. The company has a market cap of $23.95 billion, a price-to-earnings ratio of 6.76, a P/E/G ratio of 1.26 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 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.01. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%. The business had revenue of $4.02 billion during the quarter, compared to analyst estimates of $3.72 billion. During the same quarter in the previous year, the business posted $1.65 EPS. Devon Energy’s quarterly revenue was up 4.9% on a year-over-year basis. As a group, equities analysts expect that Devon Energy Co. will post 4.68 earnings per share for the current fiscal year.

Devon Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Friday, December 13th were issued a $0.22 dividend. The ex-dividend date was Friday, December 13th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.41%. Devon Energy’s dividend payout ratio 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.