Sentry Investment Management LLC Has $153,000 Holdings in Devon Energy Co. (NYSE:DVN)

Sentry Investment Management LLC cut its stake in shares of Devon Energy Co. (NYSE:DVN) by 9.7% in the fourth quarter, Holdings Channel reports. The fund owned 3,376 shares of the energy company’s stock after selling 363 shares during the period. Sentry Investment Management LLC’s holdings in Devon Energy were worth $153,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in DVN. B&D White Capital Company LLC boosted its position in Devon Energy by 41.8% in the fourth quarter. B&D White Capital Company LLC now owns 11,200 shares of the energy company’s stock valued at $507,000 after buying an additional 3,300 shares in the last quarter. Cullen Investment Group LTD. acquired a new stake in Devon Energy during the 4th quarter valued at $4,466,000. Cornercap Investment Counsel Inc. raised its position in Devon Energy by 8.9% in the 4th quarter. Cornercap Investment Counsel Inc. now owns 36,124 shares of the energy company’s stock valued at $1,636,000 after purchasing an additional 2,959 shares during the last quarter. Waldron Private Wealth LLC acquired a new position in Devon Energy in the fourth quarter worth $207,000. Finally, S. R. Schill & Associates grew its holdings in shares of Devon Energy by 3.8% during the fourth quarter. S. R. Schill & Associates now owns 7,784 shares of the energy company’s stock worth $353,000 after purchasing an additional 282 shares during the last quarter. Institutional investors and hedge funds own 69.72% of the company’s stock.

Devon Energy Stock Performance

Shares of NYSE:DVN opened at $51.67 on Thursday. The company has a market capitalization of $32.81 billion, a price-to-earnings ratio of 8.86 and a beta of 2.19. The firm’s 50 day simple moving average is $47.51 and its 200 day simple moving average is $45.82. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.07 and a quick ratio of 0.99. Devon Energy Co. has a fifty-two week low of $40.47 and a fifty-two week high of $55.46.

Devon Energy (NYSE:DVN) last announced its quarterly earnings results on Tuesday, February 27th. The energy company reported $1.41 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.02. Devon Energy had a net margin of 24.56% and a return on equity of 31.72%. The company had revenue of $4.15 billion for the quarter, compared to analysts’ expectations of $3.88 billion. During the same period last year, the firm posted $1.66 earnings per share. The business’s quarterly revenue was down 3.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Devon Energy Co. will post 5.02 earnings per share for the current year.

Devon Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were issued a $0.44 dividend. The ex-dividend date of this dividend 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 currently 15.09%.

Analysts Set New Price Targets

DVN has been the subject of a number of research analyst reports. Stifel Nicolaus cut their price target on Devon Energy from $75.00 to $65.00 and set a “buy” rating for the company in a report on Friday, March 22nd. Scotiabank boosted their target price on shares of Devon Energy from $53.00 to $67.00 and gave the stock a “sector outperform” rating in a research note on Thursday, April 11th. Truist Financial decreased their price target on shares of Devon Energy from $69.00 to $66.00 and set a “buy” rating on the stock in a research note on Friday, April 5th. Raymond James lowered their price target on shares of Devon Energy from $53.00 to $52.00 and set an “outperform” rating for the company in a report on Wednesday, January 24th. Finally, Wells Fargo & Company raised 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 report on Monday, April 1st. Five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $57.89.

Devon Energy Company 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.