Stratford Consulting LLC Sells 2,425 Shares of Devon Energy Corp (DVN)

Stratford Consulting LLC lowered its position in shares of Devon Energy Corp (NYSE:DVN) by 19.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,812 shares of the energy company’s stock after selling 2,425 shares during the quarter. Stratford Consulting LLC’s holdings in Devon Energy were worth $406,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in DVN. NuWave Investment Management LLC acquired a new stake in shares of Devon Energy in the 4th quarter valued at approximately $111,000. FNY Managed Accounts LLC acquired a new stake in shares of Devon Energy in the 3rd quarter valued at approximately $134,000. Advisory Services Network LLC boosted its holdings in shares of Devon Energy by 127.8% in the 4th quarter. Advisory Services Network LLC now owns 3,445 shares of the energy company’s stock valued at $143,000 after buying an additional 1,933 shares during the last quarter. Sawyer & Company Inc acquired a new stake in shares of Devon Energy in the 4th quarter valued at approximately $151,000. Finally, Duncker Streett & Co. Inc. boosted its holdings in shares of Devon Energy by 179.3% in the 4th quarter. Duncker Streett & Co. Inc. now owns 4,128 shares of the energy company’s stock valued at $171,000 after buying an additional 2,650 shares during the last quarter. 77.65% of the stock is owned by hedge funds and other institutional investors.

Devon Energy Corp (NYSE:DVN) opened at $34.11 on Friday. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 0.87. The firm has a market capitalization of $17,930.00, a price-to-earnings ratio of 11.60, a price-to-earnings-growth ratio of 1.68 and a beta of 2.10. Devon Energy Corp has a 12-month low of $28.79 and a 12-month high of $45.62.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Thursday, March 15th will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.70%. The ex-dividend date is Wednesday, March 14th. Devon Energy’s payout ratio is 8.16%.

Several equities research analysts have recently commented on DVN shares. Cowen set a $40.00 price objective on Devon Energy and gave the company a “buy” rating in a report on Tuesday, October 31st. Stifel Nicolaus set a $68.00 price objective on Devon Energy and gave the company a “buy” rating in a report on Tuesday, January 30th. Credit Suisse Group set a $50.00 price target on Devon Energy and gave the company a “buy” rating in a report on Tuesday, January 23rd. They noted that the move was a valuation call. Piper Jaffray Companies reaffirmed a “hold” rating and set a $42.00 price target on shares of Devon Energy in a report on Tuesday, January 9th. Finally, Zacks Investment Research raised Devon Energy from a “hold” rating to a “strong-buy” rating and set a $49.00 price target for the company in a report on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Devon Energy has an average rating of “Buy” and an average target price of $47.29.

In other Devon Energy news, EVP Lyndon C. Taylor sold 12,798 shares of the stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $38.29, for a total transaction of $490,035.42. Following the transaction, the executive vice president now owns 67,900 shares in the company, valued at approximately $2,599,891. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.51% of the stock is owned by company insiders.

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About Devon Energy

Devon Energy Corporation is an independent energy company. The Company also controls EnLink Midstream Partners, L.P. (EnLink). The Company’s segments include U.S., Canada and EnLink. The Company is engaged primarily in the exploration, development and production of oil, natural gas and natural gas liquids (NGLs).

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Institutional Ownership by Quarter for Devon Energy (NYSE:DVN)

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