Court Place Advisors LLC Sells 975 Shares of Devon Energy Co. (NYSE:DVN)

Court Place Advisors LLC trimmed its position in shares of Devon Energy Co. (NYSE:DVN) by 13.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,350 shares of the energy company’s stock after selling 975 shares during the quarter. Court Place Advisors LLC’s holdings in Devon Energy were worth $288,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Canada Pension Plan Investment Board bought a new stake in shares of Devon Energy in the 1st quarter worth approximately $26,000. Fortis Capital Advisors LLC bought a new stake in shares of Devon Energy in the 4th quarter worth approximately $31,000. KB Financial Partners LLC bought a new stake in shares of Devon Energy in the 1st quarter worth approximately $26,000. Coppell Advisory Solutions LLC bought a new stake in shares of Devon Energy in the 2nd quarter worth approximately $25,000. Finally, Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of Devon Energy in the 3rd quarter worth approximately $27,000. 69.72% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on DVN. Mizuho dropped their price target on Devon Energy from $54.00 to $53.00 and set a “buy” rating on the stock in a research report on Thursday, January 11th. Citigroup boosted their price objective on shares of Devon Energy from $55.00 to $62.00 and gave the stock a “buy” rating in a report on Thursday, April 11th. Truist Financial decreased their price objective on shares of Devon Energy from $69.00 to $66.00 and set a “buy” rating for the company in a report on Friday, April 5th. Scotiabank boosted their price objective on shares of Devon Energy from $53.00 to $67.00 and gave the stock a “sector outperform” rating in a report on Thursday, April 11th. Finally, Stifel Nicolaus decreased their price objective on shares of Devon Energy from $75.00 to $65.00 and set a “buy” rating for the company in a report on Friday, March 22nd. Five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Devon Energy presently has an average rating of “Moderate Buy” and an average price target of $57.89.

Devon Energy Stock Performance

Shares of NYSE:DVN traded down $0.51 during midday trading on Wednesday, hitting $51.67. The company had a trading volume of 6,170,623 shares, compared to its average volume of 8,083,064. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.07 and a quick ratio of 0.99. The company has a market cap of $32.81 billion, a price-to-earnings ratio of 8.86 and a beta of 2.19. Devon Energy Co. has a 12-month low of $40.47 and a 12-month high of $55.46. The company has a fifty day moving average of $47.51 and a two-hundred day moving average of $45.82.

Devon Energy (NYSE:DVN) last posted its quarterly earnings data on Tuesday, February 27th. The energy company reported $1.41 EPS for the quarter, topping the consensus estimate of $1.39 by $0.02. The firm had revenue of $4.15 billion during the quarter, compared to analyst estimates of $3.88 billion. Devon Energy had a return on equity of 31.72% and a net margin of 24.56%. Devon Energy’s revenue was down 3.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.66 EPS. On average, equities research analysts expect that Devon Energy Co. will post 5.02 EPS for the current fiscal year.

Devon Energy Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were paid a $0.44 dividend. The ex-dividend date was Thursday, March 14th. This represents a $1.76 annualized dividend and a dividend yield of 3.41%. Devon Energy’s dividend payout ratio (DPR) is 15.09%.

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.