Jaffetilchin Investment Partners LLC Sells 19,622 Shares of Devon Energy Co. (NYSE:DVN)

Jaffetilchin Investment Partners LLC trimmed its position in shares of Devon Energy Co. (NYSE:DVN) by 52.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,452 shares of the energy company’s stock after selling 19,622 shares during the quarter. Jaffetilchin Investment Partners LLC’s holdings in Devon Energy were worth $683,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Triad Wealth Partners LLC bought a new stake in shares of Devon Energy during the second quarter worth about $27,000. 1620 Investment Advisors Inc. purchased a new position in shares of Devon Energy during the second quarter valued at approximately $34,000. Capital Performance Advisors LLP bought a new stake in Devon Energy during the third quarter worth $35,000. PSI Advisors LLC boosted its holdings in Devon Energy by 66.7% during the second quarter. PSI Advisors LLC now owns 750 shares of the energy company’s stock worth $36,000 after purchasing an additional 300 shares during the last quarter. Finally, LRI Investments LLC bought a new position in shares of Devon Energy during the 1st quarter worth approximately $39,000. 69.72% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

DVN has been the topic of a number of recent analyst reports. Royal Bank of Canada reiterated a “sector perform” rating and set a $57.00 price target on shares of Devon Energy in a report on Tuesday, September 3rd. Truist Financial lowered shares of Devon Energy from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $49.00 to $43.00 in a research report on Thursday, November 7th. Benchmark reaffirmed a “hold” rating on shares of Devon Energy in a report on Tuesday, October 15th. Susquehanna decreased their target price on Devon Energy from $63.00 to $62.00 and set a “positive” rating for the company in a research report on Friday, October 18th. Finally, Scotiabank cut their price target on Devon Energy from $60.00 to $48.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $51.80.

Devon Energy Trading Up 0.2 %

Shares of DVN opened at $38.96 on Tuesday. The stock has a market capitalization of $25.59 billion, a P/E ratio of 7.23, a PEG ratio of 1.21 and a beta of 2.03. Devon Energy Co. has a twelve month low of $37.76 and a twelve month high of $55.09. The company has a quick ratio of 1.03, a current ratio of 1.11 and a debt-to-equity ratio of 0.61. The firm has a fifty day simple moving average of $40.36 and a two-hundred day simple moving average of $44.69.

Devon Energy (NYSE:DVN) last announced its quarterly earnings results on Tuesday, November 5th. The energy company reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $0.01. Devon Energy had a return on equity of 24.73% and a net margin of 21.71%. The company had revenue of $4.02 billion during the quarter, compared to analyst estimates of $3.72 billion. During the same quarter last year, the firm posted $1.65 earnings per share. The firm’s revenue was up 4.9% on a year-over-year basis. On average, research analysts anticipate that Devon Energy Co. will post 4.89 EPS for the current year.

Devon Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date of this dividend is Friday, December 13th. Devon Energy’s payout ratio is currently 16.33%.

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.