Endurance Wealth Management Inc. cut its stake in Devon Energy Corp (NYSE:DVN) by 1.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 71,715 shares of the energy company’s stock after selling 1,000 shares during the quarter. Endurance Wealth Management Inc.’s holdings in Devon Energy were worth $1,725,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently modified their holdings of the company. Zions Bancorporation N.A. raised its position in Devon Energy by 6.4% during the second quarter. Zions Bancorporation N.A. now owns 7,342 shares of the energy company’s stock valued at $209,000 after purchasing an additional 440 shares in the last quarter. Advisory Services Network LLC grew its stake in shares of Devon Energy by 43.1% during the second quarter. Advisory Services Network LLC now owns 1,712 shares of the energy company’s stock valued at $48,000 after buying an additional 516 shares during the last quarter. Doliver Advisors LP grew its stake in shares of Devon Energy by 7.8% during the second quarter. Doliver Advisors LP now owns 9,422 shares of the energy company’s stock valued at $269,000 after buying an additional 684 shares during the last quarter. Cetera Advisor Networks LLC grew its stake in shares of Devon Energy by 9.4% during the second quarter. Cetera Advisor Networks LLC now owns 8,388 shares of the energy company’s stock valued at $239,000 after buying an additional 720 shares during the last quarter. Finally, Boston Private Wealth LLC grew its stake in shares of Devon Energy by 6.3% during the second quarter. Boston Private Wealth LLC now owns 13,012 shares of the energy company’s stock valued at $371,000 after buying an additional 772 shares during the last quarter. 85.88% of the stock is owned by hedge funds and other institutional investors.
DVN has been the topic of a number of recent research reports. Wells Fargo & Co raised their price objective on Devon Energy from $33.00 to $34.00 and gave the company an “outperform” rating in a research note on Friday, September 20th. Seaport Global Securities cut Devon Energy from a “buy” rating to a “neutral” rating in a research note on Thursday, October 10th. Morgan Stanley cut their target price on Devon Energy from $30.00 to $27.00 and set an “equal weight” rating on the stock in a research note on Friday, October 4th. MKM Partners set a $32.00 target price on Devon Energy and gave the stock a “buy” rating in a research note on Monday, August 12th. Finally, Citigroup cut their target price on Devon Energy from $36.00 to $31.00 and set a “buy” rating on the stock in a research note on Monday, September 23rd. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $36.19.
Devon Energy (NYSE:DVN) last announced its quarterly earnings data on Tuesday, November 5th. The energy company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.10. Devon Energy had a net margin of 16.00% and a return on equity of 6.08%. The company had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.57 billion. During the same period in the previous year, the business earned $0.63 EPS. As a group, equities research analysts expect that Devon Energy Corp will post 1.27 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date of this dividend is Thursday, December 12th. Devon Energy’s payout ratio is 27.91%.
In other news, CAO Jeremy D. Humphers sold 1,500 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $21.66, for a total transaction of $32,490.00. Following the completion of the sale, the chief accounting officer now owns 42,475 shares of the company’s stock, valued at approximately $920,008.50. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.63% of the company’s stock.
Devon Energy Profile
Devon Energy Corporation, an independent energy company, primarily engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States and Canada. It operates approximately 12,900 gross wells. The company was founded in 1971 and is headquartered in Oklahoma City, Oklahoma.
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