Adams Asset Advisors LLC Has $791,000 Holdings in Devon Energy Corporation (DVN)

Adams Asset Advisors LLC lowered its stake in Devon Energy Corporation (NYSE:DVN) by 54.3% during the fourth quarter, HoldingsChannel reports. The firm owned 19,111 shares of the energy company’s stock after selling 22,676 shares during the quarter. Adams Asset Advisors LLC’s holdings in Devon Energy were worth $791,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Sawyer & Company Inc acquired a new stake in shares of Devon Energy during the 4th quarter worth about $151,000. National Investment Services Inc. WI acquired a new stake in shares of Devon Energy during the 4th quarter worth about $1,431,000. Trust Co raised its position in shares of Devon Energy by 19.7% during the 3rd quarter. Trust Co now owns 9,780 shares of the energy company’s stock worth $360,000 after acquiring an additional 1,608 shares in the last quarter. Foundation Resource Management Inc. raised its position in shares of Devon Energy by 23.8% during the 4th quarter. Foundation Resource Management Inc. now owns 46,323 shares of the energy company’s stock worth $1,918,000 after acquiring an additional 8,910 shares in the last quarter. Finally, DnB Asset Management AS raised its position in shares of Devon Energy by 5.5% during the 4th quarter. DnB Asset Management AS now owns 57,675 shares of the energy company’s stock worth $2,388,000 after acquiring an additional 3,000 shares in the last quarter. 77.44% of the stock is currently owned by institutional investors.

In other Devon Energy news, EVP Lyndon C. Taylor sold 12,798 shares of Devon Energy stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $38.29, for a total value of $490,035.42. Following the transaction, the executive vice president now directly owns 67,900 shares in the company, valued at approximately $2,599,891. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.51% of the company’s stock.

Several brokerages have recently weighed in on DVN. Capital One Financial lowered Devon Energy from an “overweight” rating to an “equal weight” rating in a research report on Wednesday. Piper Jaffray Companies reissued a “hold” rating and set a $42.00 target price on shares of Devon Energy in a research report on Tuesday. Cowen reissued a “buy” rating and set a $40.00 target price on shares of Devon Energy in a research report on Thursday, September 28th. BMO Capital Markets set a $45.00 target price on Devon Energy and gave the stock a “buy” rating in a research report on Tuesday, October 10th. Finally, Barclays raised their target price on Devon Energy from $35.00 to $38.00 and gave the stock an “overweight” rating in a research report on Monday, November 20th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $46.06.

Devon Energy Corporation (DVN) traded up $0.88 on Thursday, reaching $43.07. The company’s stock had a trading volume of 6,860,000 shares, compared to its average volume of 4,500,000. The firm has a market capitalization of $22,630.00, a price-to-earnings ratio of 14.65, a price-to-earnings-growth ratio of 2.56 and a beta of 2.21. Devon Energy Corporation has a 52 week low of $28.79 and a 52 week high of $47.82. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.63 and a current ratio of 1.63.

Devon Energy (NYSE:DVN) last released its quarterly earnings results on Tuesday, October 31st. The energy company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.39 by $0.07. The company had revenue of $3.16 billion for the quarter, compared to analyst estimates of $3.13 billion. Devon Energy had a return on equity of 6.88% and a net margin of 11.62%. The firm’s revenue was up 9.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.89 earnings per share. sell-side analysts predict that Devon Energy Corporation will post 1.79 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Thursday, March 15th will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.56%. The ex-dividend date of this dividend is Wednesday, March 14th. Devon Energy’s dividend payout ratio (DPR) is 8.16%.

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Devon Energy Profile

Devon Energy Corporation is an independent energy company. The Company also controls EnLink Midstream Partners, L.P. (EnLink). The Company’s segments include U.S., Canada and EnLink. The Company is engaged primarily in the exploration, development and production of oil, natural gas and natural gas liquids (NGLs).

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Institutional Ownership by Quarter for Devon Energy (NYSE:DVN)

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