Leavell Investment Management Inc. Trims Stock Position in Devon Energy Co. (NYSE:DVN)

Leavell Investment Management Inc. decreased its holdings in Devon Energy Co. (NYSE:DVN) by 9.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,992 shares of the energy company’s stock after selling 3,150 shares during the quarter. Leavell Investment Management Inc.’s holdings in Devon Energy were worth $1,173,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Triad Wealth Partners LLC acquired a new position in Devon Energy during the second quarter worth approximately $27,000. 1620 Investment Advisors Inc. purchased a new stake in shares of Devon Energy during the 2nd quarter valued at $34,000. Capital Performance Advisors LLP acquired a new stake in shares of Devon Energy during the 3rd quarter worth $35,000. PSI Advisors LLC raised its position in shares of Devon Energy by 66.7% in the 2nd quarter. PSI Advisors LLC now owns 750 shares of the energy company’s stock worth $36,000 after buying an additional 300 shares during the period. Finally, LRI Investments LLC acquired a new position in Devon Energy in the first quarter valued at $39,000. Institutional investors and hedge funds own 69.72% of the company’s stock.

Analyst Upgrades and Downgrades

DVN has been the subject of several research analyst reports. BMO Capital Markets dropped their price target on Devon Energy from $52.00 to $48.00 and set an “outperform” rating for the company in a research note on Friday, October 4th. Jefferies Financial Group assumed coverage on shares of Devon Energy in a report on Thursday, October 3rd. They issued a “hold” rating and a $45.00 price target on the stock. Evercore ISI decreased their price objective on shares of Devon Energy from $55.00 to $50.00 and set an “in-line” rating for the company in a research note on Monday, September 30th. Mizuho cut their target price on shares of Devon Energy from $53.00 to $51.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 9th. Finally, Truist Financial cut shares of Devon Energy from a “buy” rating to a “hold” rating and decreased their price target for the stock from $49.00 to $43.00 in a research report on Thursday. One research analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, Devon Energy presently has a consensus rating of “Hold” and a consensus target price of $51.80.

Devon Energy Trading Down 0.1 %

DVN opened at $38.87 on Friday. Devon Energy Co. has a 12-month low of $37.76 and a 12-month high of $55.09. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.11 and a quick ratio of 1.03. The stock has a market capitalization of $24.34 billion, a PE ratio of 7.21, a P/E/G ratio of 1.23 and a beta of 2.03. The firm’s fifty day moving average price is $40.48 and its 200 day moving average price is $44.84.

Devon Energy (NYSE:DVN) last issued its earnings results on Tuesday, November 5th. The energy company reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.09 by $0.01. The business had revenue of $4.02 billion for the quarter, compared to analyst estimates of $3.72 billion. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.65 EPS. As a group, research analysts expect that Devon Energy Co. will post 4.93 EPS for the current fiscal year.

Devon Energy Dividend Announcement

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

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.