Childress Capital Advisors LLC Sells 1,396 Shares of Devon Energy Co. (NYSE:DVN)

Childress Capital Advisors LLC lowered its position in Devon Energy Co. (NYSE:DVN) by 3.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,274 shares of the energy company’s stock after selling 1,396 shares during the period. Childress Capital Advisors LLC’s holdings in Devon Energy were worth $1,615,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Tradewinds Capital Management LLC bought a new position in Devon Energy in the first quarter valued at approximately $30,000. State of Alaska Department of Revenue boosted its stake in Devon Energy by 0.5% in the 1st quarter. State of Alaska Department of Revenue now owns 69,520 shares of the energy company’s stock worth $3,488,000 after purchasing an additional 330 shares during the period. Norden Group LLC bought a new position in Devon Energy during the 1st quarter worth about $1,330,000. Kovack Advisors Inc. increased its holdings in Devon Energy by 23.3% during the 1st quarter. Kovack Advisors Inc. now owns 52,728 shares of the energy company’s stock worth $2,646,000 after purchasing an additional 9,953 shares in the last quarter. Finally, Cornerstone Wealth Management LLC raised its stake in shares of Devon Energy by 3.3% in the 1st quarter. Cornerstone Wealth Management LLC now owns 17,679 shares of the energy company’s stock valued at $887,000 after purchasing an additional 562 shares during the period. Institutional investors and hedge funds own 69.72% of the company’s stock.

Wall Street Analysts Forecast Growth

DVN has been the subject of a number of research reports. Benchmark reiterated a “hold” rating on shares of Devon Energy in a report on Tuesday, October 15th. BMO Capital Markets lowered their price objective 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. Piper Sandler reduced their target price on shares of Devon Energy from $57.00 to $56.00 and set an “overweight” rating for the company in a report on Tuesday, October 15th. UBS Group lowered their price target on shares of Devon Energy from $53.00 to $47.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 18th. Finally, Jefferies Financial Group assumed coverage on shares of Devon Energy in a research note on Thursday, October 3rd. They set a “hold” rating and a $45.00 price objective for the company. Nine investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $52.53.

Devon Energy Stock Performance

NYSE DVN opened at $38.14 on Wednesday. The stock has a market cap of $23.88 billion, a PE ratio of 6.92, a P/E/G ratio of 1.22 and a beta of 2.02. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.03 and a current ratio of 1.11. The firm has a 50-day moving average of $41.37 and a 200-day moving average of $45.53. Devon Energy Co. has a 52-week low of $37.76 and a 52-week high of $55.09.

Devon Energy (NYSE:DVN) last issued its quarterly earnings data on Tuesday, August 6th. The energy company reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.15. The company had revenue of $3.92 billion during the quarter, compared to analysts’ expectations of $3.90 billion. Devon Energy had a return on equity of 29.14% and a net margin of 22.60%. The business’s revenue was up 13.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.18 earnings per share. On average, sell-side analysts anticipate that Devon Energy Co. will post 4.98 EPS for the current year.

Devon Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.31%. The ex-dividend date was Friday, September 13th. Devon Energy’s payout ratio is 15.97%.

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.