Investors Asset Management of Georgia Inc. GA ADV Has $300,000 Stock Holdings in Devon Energy Co. (NYSE:DVN)

Investors Asset Management of Georgia Inc. GA ADV trimmed its holdings in shares of Devon Energy Co. (NYSE:DVN) by 3.6% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 6,587 shares of the energy company’s stock after selling 245 shares during the period. Investors Asset Management of Georgia Inc. GA ADV’s holdings in Devon Energy were worth $300,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Wahed Invest LLC boosted its position in shares of Devon Energy by 2.1% during the 1st quarter. Wahed Invest LLC now owns 7,933 shares of the energy company’s stock worth $469,000 after acquiring an additional 161 shares in the last quarter. Avior Wealth Management LLC boosted its position in shares of Devon Energy by 4.9% during the 3rd quarter. Avior Wealth Management LLC now owns 4,406 shares of the energy company’s stock worth $210,000 after acquiring an additional 207 shares in the last quarter. Cornerstone Wealth Management LLC boosted its position in shares of Devon Energy by 1.9% during the 3rd quarter. Cornerstone Wealth Management LLC now owns 11,540 shares of the energy company’s stock worth $550,000 after acquiring an additional 218 shares in the last quarter. MCF Advisors LLC boosted its position in shares of Devon Energy by 9.0% during the 3rd quarter. MCF Advisors LLC now owns 2,681 shares of the energy company’s stock worth $128,000 after acquiring an additional 222 shares in the last quarter. Finally, Clearbridge Investments LLC boosted its position in shares of Devon Energy by 2.1% during the 3rd quarter. Clearbridge Investments LLC now owns 11,887 shares of the energy company’s stock worth $567,000 after acquiring an additional 239 shares in the last quarter. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

DVN has been the topic of several analyst reports. Royal Bank of Canada reiterated a “sector perform” rating and set a $55.00 price target on shares of Devon Energy in a research report on Thursday, March 7th. JPMorgan Chase & Co. increased their price target on shares of Devon Energy from $57.00 to $62.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Citigroup increased their price target on shares of Devon Energy from $55.00 to $62.00 and gave the stock a “buy” rating in a research report on Thursday, April 11th. Scotiabank raised their target price on shares of Devon Energy from $53.00 to $67.00 and gave the company a “sector outperform” rating in a research report on Thursday, April 11th. Finally, Truist Financial cut their target price on shares of Devon Energy from $69.00 to $66.00 and set a “buy” rating on the stock in a research report on Friday, April 5th. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $57.89.

Devon Energy Trading Down 0.4 %

Shares of NYSE:DVN traded down $0.20 during mid-day trading on Thursday, reaching $51.47. 2,538,565 shares of the company’s stock were exchanged, compared to its average volume of 8,007,617. The firm has a market capitalization of $32.68 billion, a price-to-earnings ratio of 8.89 and a beta of 2.19. The business’s fifty day moving average price is $47.51 and its 200-day moving average price is $45.82. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.99 and a current ratio of 1.07. Devon Energy Co. has a twelve month low of $40.47 and a twelve month high of $55.09.

Devon Energy (NYSE:DVN) last issued its quarterly earnings results on Tuesday, February 27th. The energy company reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.02. The company had revenue of $4.15 billion for the quarter, compared to analyst estimates of $3.88 billion. Devon Energy had a net margin of 24.56% and a return on equity of 31.72%. Devon Energy’s revenue was down 3.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.66 earnings per share. On average, research analysts predict that Devon Energy Co. will post 5.14 EPS for the current fiscal year.

Devon Energy Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 3.42%. The ex-dividend date of this dividend was Thursday, March 14th. Devon Energy’s dividend payout ratio is presently 15.09%.

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.