Dumont & Blake Investment Advisors LLC Sells 26,687 Shares of Devon Energy Co. (NYSE:DVN)

Dumont & Blake Investment Advisors LLC cut its stake in Devon Energy Co. (NYSE:DVN) by 50.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 26,541 shares of the energy company’s stock after selling 26,687 shares during the period. Dumont & Blake Investment Advisors LLC’s holdings in Devon Energy were worth $1,038,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Triad Wealth Partners LLC purchased a new stake in Devon Energy in the second quarter worth about $27,000. Tradewinds Capital Management LLC bought a new position in shares of Devon Energy in the first quarter worth about $30,000. 1620 Investment Advisors Inc. purchased a new position in shares of Devon Energy in the second quarter worth $34,000. PSI Advisors LLC grew its holdings in shares of Devon Energy by 66.7% in the second quarter. PSI Advisors LLC now owns 750 shares of the energy company’s stock valued at $36,000 after purchasing an additional 300 shares in the last quarter. Finally, LRI Investments LLC bought a new stake in shares of Devon Energy during the first quarter valued at approximately $39,000. 69.72% of the stock is owned by institutional investors.

Devon Energy Stock Performance

DVN traded up $0.24 on Friday, hitting $39.75. The company’s stock had a trading volume of 97,535 shares, compared to its average volume of 7,292,435. The company has a quick ratio of 1.03, a current ratio of 1.11 and a debt-to-equity ratio of 0.45. Devon Energy Co. has a 12 month low of $37.76 and a 12 month high of $55.09. The firm has a market cap of $25.12 billion, a P/E ratio of 7.54, a price-to-earnings-growth ratio of 1.27 and a beta of 2.02. The company’s 50 day simple moving average is $41.74 and its 200-day simple moving average is $45.96.

Devon Energy (NYSE:DVN) last posted its quarterly earnings results on Tuesday, August 6th. The energy company reported $1.41 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.15. Devon Energy had a net margin of 22.60% and a return on equity of 29.14%. The company had revenue of $3.92 billion during the quarter, compared to analyst estimates of $3.90 billion. During the same period in the prior year, the business posted $1.18 EPS. The firm’s revenue was up 13.4% compared to the same quarter last year. Analysts forecast that Devon Energy Co. will post 5.01 EPS for the current year.

Devon Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were issued a $0.22 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.88 dividend on an annualized basis and a yield of 2.21%. Devon Energy’s dividend payout ratio is currently 16.79%.

Analysts Set New Price Targets

Several research firms recently commented on DVN. Jefferies Financial Group initiated 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. Sanford C. Bernstein decreased their target price on Devon Energy from $48.00 to $43.00 and set a “market perform” rating on the stock in a research report on Wednesday, July 17th. Wells Fargo & Company reissued a “sector outperform” rating on shares of Devon Energy in a report on Friday, October 18th. Scotiabank decreased their price target on shares of Devon Energy from $60.00 to $48.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Finally, Mizuho cut their price objective on shares of Devon Energy from $53.00 to $51.00 and set an “outperform” rating for the company in a research report on Wednesday, October 9th. Nine investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $52.53.

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.