Aptus Capital Advisors LLC Has $670,000 Stock Position in Devon Energy Co. (NYSE:DVN)

Aptus Capital Advisors LLC reduced its position in Devon Energy Co. (NYSE:DVN) by 90.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,132 shares of the energy company’s stock after selling 168,771 shares during the period. Aptus Capital Advisors LLC’s holdings in Devon Energy were worth $670,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Sei Investments Co. lifted its stake in Devon Energy by 3.6% in the first quarter. Sei Investments Co. now owns 228,499 shares of the energy company’s stock valued at $11,462,000 after acquiring an additional 7,931 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in shares of Devon Energy by 28.3% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 22,975 shares of the energy company’s stock valued at $1,153,000 after purchasing an additional 5,074 shares during the last quarter. Kingsview Wealth Management LLC boosted its holdings in Devon Energy by 55.4% in the first quarter. Kingsview Wealth Management LLC now owns 39,149 shares of the energy company’s stock worth $1,965,000 after purchasing an additional 13,961 shares in the last quarter. HBK Sorce Advisory LLC increased its position in Devon Energy by 29.8% during the first quarter. HBK Sorce Advisory LLC now owns 8,067 shares of the energy company’s stock worth $405,000 after buying an additional 1,850 shares during the last quarter. Finally, Brighton Jones LLC raised its holdings in Devon Energy by 456.8% during the first quarter. Brighton Jones LLC now owns 44,587 shares of the energy company’s stock valued at $2,237,000 after buying an additional 36,579 shares in the last quarter. 69.72% of the stock is owned by hedge funds and other institutional investors.

Devon Energy Price Performance

NYSE:DVN opened at $39.36 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.11. The company has a 50-day moving average of $40.15 and a 200-day moving average of $44.52. Devon Energy Co. has a 52 week low of $37.76 and a 52 week high of $55.09. The company has a market capitalization of $25.86 billion, a price-to-earnings ratio of 7.30, a PEG ratio of 1.19 and a beta of 2.03.

Devon Energy (NYSE:DVN) last released its quarterly earnings data on Tuesday, November 5th. The energy company reported $1.10 earnings per share for the quarter, beating 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 company had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $3.72 billion. During the same period in the previous year, the business earned $1.65 earnings per share. The company’s quarterly revenue was up 4.9% on a year-over-year basis. As a group, equities research analysts anticipate that Devon Energy Co. will post 4.86 earnings per share for the current fiscal year.

Devon Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be paid a dividend of $0.22 per share. The ex-dividend date is Friday, December 13th. This represents a $0.88 annualized dividend and a yield of 2.24%. Devon Energy’s dividend payout ratio is currently 16.33%.

Wall Street Analysts Forecast Growth

DVN has been the topic of a number of analyst reports. Royal Bank of Canada reissued a “sector perform” rating and set a $57.00 price objective on shares of Devon Energy in a report on Tuesday, September 3rd. Scotiabank dropped 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 report on Thursday, October 10th. 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 report on Monday, September 30th. Wolfe Research started coverage on shares of Devon Energy in a report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Finally, Raymond James cut their target price on shares of Devon Energy from $58.00 to $51.00 in a research report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Devon Energy presently has a consensus rating of “Hold” and a consensus target price of $51.80.

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.