Dumont & Blake Investment Advisors LLC Trims Stake in Devon Energy Co. (NYSE:DVN)

Dumont & Blake Investment Advisors LLC decreased its position in shares of Devon Energy Co. (NYSE:DVN) by 13.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,103 shares of the energy company’s stock after selling 3,438 shares during the period. Dumont & Blake Investment Advisors LLC’s holdings in Devon Energy were worth $756,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. EnCap Energy Capital Fund XI L.P. acquired a new stake in shares of Devon Energy during the third quarter worth about $461,857,000. EnCap Partners GP LLC acquired a new stake in Devon Energy during the 3rd quarter worth approximately $408,653,000. EnCap Energy Capital Fund X L.P. acquired a new stake in Devon Energy during the 3rd quarter worth approximately $230,928,000. International Assets Investment Management LLC grew its stake in shares of Devon Energy by 4,125.7% in the 3rd quarter. International Assets Investment Management LLC now owns 2,280,961 shares of the energy company’s stock valued at $89,231,000 after purchasing an additional 2,226,983 shares during the last quarter. Finally, Pacer Advisors Inc. increased its holdings in shares of Devon Energy by 16.9% in the third quarter. Pacer Advisors Inc. now owns 11,591,168 shares of the energy company’s stock valued at $453,446,000 after purchasing an additional 1,677,652 shares during the period. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Devon Energy Stock Performance

NYSE DVN opened at $35.04 on Friday. 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 fifty-two week low of $30.39 and a fifty-two week high of $55.09. The business has a fifty day moving average of $35.00 and a 200-day moving average of $39.64. The stock has a market cap of $23.02 billion, a price-to-earnings ratio of 6.50, a price-to-earnings-growth ratio of 1.21 and a beta of 2.00.

Devon Energy (NYSE:DVN) last released its earnings results on Tuesday, November 5th. The energy company reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.09 by $0.01. The company had revenue of $4.02 billion for the quarter, compared to analyst estimates of $3.72 billion. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.65 EPS. As a group, analysts predict that Devon Energy Co. will post 4.7 earnings per share for the current fiscal year.

Devon Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Friday, December 13th were paid a $0.22 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.88 annualized dividend and a yield of 2.51%. Devon Energy’s payout ratio is currently 16.33%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Benchmark upgraded shares of Devon Energy from a “hold” rating to a “buy” rating and set a $44.00 price objective on the stock in a research report on Tuesday, January 14th. BMO Capital Markets lowered 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. Susquehanna reduced their price objective on shares of Devon Energy from $63.00 to $62.00 and set a “positive” rating for the company in a research report on Friday, October 18th. StockNews.com raised Devon Energy from a “sell” rating to a “hold” rating in a report on Friday, January 3rd. Finally, Jefferies Financial Group started coverage on Devon Energy in a report on Thursday, October 3rd. They issued a “hold” rating and a $45.00 price target for the company. Nine equities 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 stock presently has an average rating of “Moderate Buy” and a consensus target price of $49.45.

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.