Radnor Capital Management LLC Has $494,000 Stake in Devon Energy Co. (NYSE:DVN)

Radnor Capital Management LLC reduced its holdings in Devon Energy Co. (NYSE:DVN) by 24.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,090 shares of the energy company’s stock after selling 4,865 shares during the quarter. Radnor Capital Management LLC’s holdings in Devon Energy were worth $494,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. EnCap Energy Capital Fund XI L.P. acquired a new position in Devon Energy in the third quarter worth $461,857,000. EnCap Partners GP LLC bought a new position in shares of Devon Energy in the third quarter valued at about $408,653,000. EnCap Energy Capital Fund X L.P. acquired a new position in Devon Energy during the 3rd quarter worth about $230,928,000. International Assets Investment Management LLC grew its holdings in Devon Energy by 4,125.7% during the 3rd quarter. International Assets Investment Management LLC now owns 2,280,961 shares of the energy company’s stock worth $89,231,000 after acquiring an additional 2,226,983 shares during the last quarter. Finally, Pacer Advisors Inc. increased its position in Devon Energy by 16.9% in the 3rd quarter. Pacer Advisors Inc. now owns 11,591,168 shares of the energy company’s stock valued at $453,446,000 after acquiring an additional 1,677,652 shares in the last quarter. 69.72% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

DVN has been the topic of a number of research reports. Sanford C. Bernstein upgraded shares of Devon Energy from a “market perform” rating to an “outperform” rating and set a $45.00 target price on the stock in a research report on Wednesday. Benchmark upgraded Devon Energy from a “hold” rating to a “buy” rating and set a $44.00 price objective on the stock in a research report on Tuesday. Wells Fargo & Company dropped their target price on Devon Energy from $49.00 to $43.00 and set an “overweight” rating for the company in a research report on Tuesday, December 17th. Jefferies Financial Group initiated coverage on Devon Energy in a report on Thursday, October 3rd. They issued a “hold” rating and a $45.00 price target on the stock. Finally, Barclays dropped their price objective on Devon Energy from $55.00 to $46.00 and set an “equal weight” rating for the company in a report on Thursday, October 3rd. Nine research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $49.27.

Devon Energy Stock Up 3.4 %

Shares of Devon Energy stock opened at $38.45 on Thursday. The company has a market capitalization of $25.26 billion, a P/E ratio of 7.13, a price-to-earnings-growth ratio of 1.07 and a beta of 2.00. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.11 and a quick ratio of 1.01. The business has a 50-day moving average of $35.54 and a two-hundred day moving average of $40.42. Devon Energy Co. has a 1 year low of $30.39 and a 1 year high of $55.09.

Devon Energy (NYSE:DVN) last posted 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. Devon Energy had a return on equity of 24.73% and a net margin of 21.71%. The business had revenue of $4.02 billion during the quarter, compared to analysts’ expectations of $3.72 billion. During the same period in the prior year, the business earned $1.65 EPS. Devon Energy’s revenue for the quarter was up 4.9% compared to the same quarter last year. As a group, equities analysts predict that Devon Energy Co. will post 4.79 EPS for the current year.

Devon Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Friday, December 13th were given a $0.22 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.88 annualized dividend and a yield of 2.29%. Devon Energy’s dividend payout ratio is currently 16.33%.

About Devon Energy

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.