Fortem Financial Group LLC Sells 34,988 Shares of Devon Energy Corporation $DVN

Fortem Financial Group LLC trimmed its stake in Devon Energy Corporation (NYSE:DVN) by 73.4% in the third quarter, HoldingsChannel reports. The firm owned 12,658 shares of the energy company’s stock after selling 34,988 shares during the period. Fortem Financial Group LLC’s holdings in Devon Energy were worth $444,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of DVN. Geode Capital Management LLC raised its stake in Devon Energy by 1.2% in the 2nd quarter. Geode Capital Management LLC now owns 18,595,683 shares of the energy company’s stock valued at $589,399,000 after acquiring an additional 218,034 shares during the period. AQR Capital Management LLC lifted its position in shares of Devon Energy by 78.7% in the 2nd quarter. AQR Capital Management LLC now owns 6,360,499 shares of the energy company’s stock worth $202,327,000 after purchasing an additional 2,802,137 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Devon Energy by 1.6% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 4,784,270 shares of the energy company’s stock valued at $152,188,000 after acquiring an additional 77,433 shares during the period. Thrivent Financial for Lutherans increased its stake in Devon Energy by 5.5% during the 3rd quarter. Thrivent Financial for Lutherans now owns 4,712,190 shares of the energy company’s stock valued at $165,210,000 after purchasing an additional 246,179 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. grew its stake in shares of Devon Energy by 83.9% in the second quarter. Adage Capital Partners GP L.L.C. now owns 4,568,092 shares of the energy company’s stock worth $145,311,000 after acquiring an additional 2,083,600 shares during the period. 69.72% of the stock is currently owned by institutional investors.

Devon Energy Trading Up 0.5%

Shares of Devon Energy stock opened at $40.14 on Friday. The company has a current ratio of 0.96, a quick ratio of 0.87 and a debt-to-equity ratio of 0.48. The stock has a market cap of $25.18 billion, a PE ratio of 9.44, a price-to-earnings-growth ratio of 3.64 and a beta of 0.60. The company has a 50-day moving average of $36.99 and a two-hundred day moving average of $35.02. Devon Energy Corporation has a 12-month low of $25.89 and a 12-month high of $41.31.

Devon Energy (NYSE:DVN) last posted its quarterly earnings data on Wednesday, November 5th. The energy company reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.11. Devon Energy had a return on equity of 18.14% and a net margin of 15.56%.The business had revenue of $0.00 million for the quarter, compared to analyst estimates of $4.10 billion. During the same quarter last year, the company earned $1.10 earnings per share. On average, research analysts anticipate that Devon Energy Corporation will post 4.85 EPS for the current fiscal year.

Devon Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 30th. Shareholders of record on Monday, December 15th were paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date was Monday, December 15th. Devon Energy’s dividend payout ratio (DPR) is 22.59%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Barclays lifted their target price on shares of Devon Energy from $40.00 to $42.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 21st. Citigroup raised their price objective on Devon Energy from $43.00 to $44.00 and gave the stock a “buy” rating in a research report on Wednesday, December 17th. JPMorgan Chase & Co. lowered their price objective on Devon Energy from $44.00 to $41.00 and set an “overweight” rating on the stock in a research report on Thursday, January 15th. Roth Mkm reaffirmed a “buy” rating and set a $42.00 target price on shares of Devon Energy in a report on Wednesday, December 31st. Finally, BMO Capital Markets decreased their target price on shares of Devon Energy from $48.00 to $45.00 and set an “outperform” rating on the stock in a research report on Monday, January 12th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Devon Energy has an average rating of “Moderate Buy” and an average target price of $44.76.

Devon Energy Company Profile

Devon Energy Corporation (NYSE: DVN) is an independent oil and gas exploration and production company headquartered in Oklahoma City, Oklahoma. The company focuses on the exploration, development, production and marketing of hydrocarbons, including crude oil, natural gas liquids (NGLs) and natural gas. Devon operates as an upstream energy company that acquires, evaluates and develops onshore resource plays using a combination of drilling, completion and production optimization techniques.

Core business activities include identifying and developing energy reserves, operating well programs and managing reservoir performance to generate production and cash flow.