Smithfield Trust Co Has $101,000 Holdings in Devon Energy Co. (NYSE:DVN)

Smithfield Trust Co lowered its position in shares of Devon Energy Co. (NYSE:DVN) by 21.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,555 shares of the energy company’s stock after selling 715 shares during the quarter. Smithfield Trust Co’s holdings in Devon Energy were worth $101,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in DVN. Annex Advisory Services LLC grew its position in Devon Energy by 0.8% during the second quarter. Annex Advisory Services LLC now owns 27,651 shares of the energy company’s stock valued at $1,311,000 after purchasing an additional 223 shares in the last quarter. Versant Capital Management Inc grew its position in Devon Energy by 30.4% during the second quarter. Versant Capital Management Inc now owns 970 shares of the energy company’s stock valued at $46,000 after purchasing an additional 226 shares in the last quarter. Archer Investment Corp grew its position in Devon Energy by 2.8% during the second quarter. Archer Investment Corp now owns 8,535 shares of the energy company’s stock valued at $405,000 after purchasing an additional 235 shares in the last quarter. Citizens Financial Group Inc. RI grew its position in Devon Energy by 2.6% in the first quarter. Citizens Financial Group Inc. RI now owns 9,480 shares of the energy company’s stock worth $476,000 after acquiring an additional 236 shares in the last quarter. Finally, Institute for Wealth Management LLC. grew its position in Devon Energy by 4.0% in the second quarter. Institute for Wealth Management LLC. now owns 6,234 shares of the energy company’s stock worth $296,000 after acquiring an additional 237 shares in the last quarter. Institutional investors and hedge funds own 69.72% of the company’s stock.

Devon Energy Trading Up 1.2 %

Shares of Devon Energy stock opened at $38.77 on Friday. The stock has a market capitalization of $25.47 billion, a P/E ratio of 7.19, a price-to-earnings-growth ratio of 1.20 and a beta of 2.03. The company has a quick ratio of 1.01, a current ratio of 1.11 and a debt-to-equity ratio of 0.61. The company has a 50-day simple moving average of $39.94 and a 200 day simple moving average of $44.08. Devon Energy Co. has a 12-month low of $37.76 and a 12-month high of $55.09.

Devon Energy (NYSE:DVN) last announced its earnings results on Tuesday, November 5th. The energy company reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.01. The business had revenue of $4.02 billion during the quarter, compared to analysts’ expectations of $3.72 billion. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter last year, the company posted $1.65 EPS. Research analysts expect that Devon Energy Co. will post 4.81 earnings per share for the current fiscal year.

Devon Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date of this dividend is Friday, December 13th. Devon Energy’s dividend payout ratio is currently 16.33%.

Wall Street Analysts Forecast Growth

Several research firms have commented on DVN. TD Cowen decreased their target price on shares of Devon Energy from $54.00 to $46.00 and set a “hold” rating for the company in a research report on Tuesday, November 5th. JPMorgan Chase & Co. decreased their price objective on shares of Devon Energy from $64.00 to $51.00 and set an “overweight” rating for the company in a report on Thursday, September 12th. StockNews.com downgraded shares of Devon Energy from a “hold” rating to a “sell” rating in a report on Thursday, November 7th. Raymond James decreased their price objective on shares of Devon Energy from $58.00 to $51.00 in a report on Tuesday, November 5th. Finally, Piper Sandler upped their price objective on shares of Devon Energy from $56.00 to $57.00 and gave the stock an “overweight” rating in a report on Monday. One analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $51.85.

Devon Energy Company 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.