Field & Main Bank Has $502,000 Holdings in Devon Energy Co. (NYSE:DVN)

Field & Main Bank decreased its position in shares of Devon Energy Co. (NYSE:DVN) by 9.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,080 shares of the energy company’s stock after selling 1,090 shares during the period. Field & Main Bank’s holdings in Devon Energy were worth $502,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of DVN. Annis Gardner Whiting Capital Advisors LLC bought a new stake in Devon Energy during the 3rd quarter valued at approximately $27,000. Sound Income Strategies LLC grew its stake in shares of Devon Energy by 60.7% in the fourth quarter. Sound Income Strategies LLC now owns 675 shares of the energy company’s stock worth $31,000 after acquiring an additional 255 shares during the last quarter. Rise Advisors LLC increased its position in Devon Energy by 1,365.3% during the fourth quarter. Rise Advisors LLC now owns 718 shares of the energy company’s stock worth $33,000 after acquiring an additional 669 shares during the period. PFS Partners LLC acquired a new position in Devon Energy during the 4th quarter valued at $36,000. Finally, Naples Money Management LLC bought a new stake in Devon Energy in the 4th quarter valued at $40,000. 69.72% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on DVN. Morgan Stanley upped their price objective on shares of Devon Energy from $49.00 to $50.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Mizuho cut their target price on Devon Energy from $54.00 to $53.00 and set a “buy” rating for the company in a research report on Thursday, January 11th. Wells Fargo & Company raised shares of Devon Energy from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $46.00 to $59.00 in a research note on Monday, April 1st. Barclays started coverage on shares of Devon Energy in a research note on Wednesday, April 10th. They issued an “equal weight” rating and a $59.00 target price for the company. Finally, Stifel Nicolaus increased their price target on Devon Energy from $65.00 to $66.00 and gave the stock a “buy” rating in a research report on Tuesday, April 23rd. Five research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $58.33.

Devon Energy Trading Up 0.7 %

NYSE:DVN traded up $0.37 during mid-day trading on Monday, hitting $53.08. The company had a trading volume of 4,808,540 shares, compared to its average volume of 7,819,729. The firm has a market cap of $33.71 billion, a P/E ratio of 9.10 and a beta of 2.19. Devon Energy Co. has a fifty-two week low of $40.47 and a fifty-two week high of $55.09. The business’s fifty day moving average is $49.07 and its two-hundred day moving average is $46.22. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.99 and a current ratio of 1.07.

Devon Energy (NYSE:DVN) last issued its earnings results on Tuesday, February 27th. The energy company reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.02. The company had revenue of $4.15 billion for the quarter, compared to analysts’ expectations of $3.88 billion. Devon Energy had a net margin of 24.56% and a return on equity of 31.72%. Devon Energy’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.66 EPS. As a group, research analysts expect that Devon Energy Co. will post 5.28 earnings per share for the current year.

Devon Energy Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date was Thursday, March 14th. Devon Energy’s payout ratio is presently 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.