Nepsis Inc. Sells 49,724 Shares of Devon Energy Corporation $DVN

Nepsis Inc. cut its holdings in Devon Energy Corporation (NYSE:DVN) by 9.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 470,612 shares of the energy company’s stock after selling 49,724 shares during the quarter. Devon Energy accounts for 5.2% of Nepsis Inc.’s investment portfolio, making the stock its 4th largest position. Nepsis Inc. owned about 0.07% of Devon Energy worth $16,500,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Opal Wealth Advisors LLC purchased a new stake in Devon Energy in the 2nd quarter worth $25,000. Caldwell Trust Co purchased a new position in Devon Energy during the second quarter valued at $25,000. PFS Partners LLC acquired a new stake in shares of Devon Energy in the third quarter valued at about $25,000. Trust Co. of Vermont increased its stake in shares of Devon Energy by 241.3% during the second quarter. Trust Co. of Vermont now owns 942 shares of the energy company’s stock worth $30,000 after purchasing an additional 666 shares in the last quarter. Finally, FNY Investment Advisers LLC purchased a new stake in shares of Devon Energy during the second quarter worth about $34,000. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Devon Energy Price Performance

NYSE:DVN opened at $35.76 on Friday. Devon Energy Corporation has a one year low of $25.89 and a one year high of $38.88. The stock has a market cap of $22.43 billion, a PE ratio of 8.41, a P/E/G ratio of 2.96 and a beta of 0.60. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.87 and a current ratio of 0.96. The stock has a 50 day moving average price of $35.96 and a 200 day moving average price of $34.51.

Devon Energy (NYSE:DVN) last released its quarterly earnings data on Wednesday, November 5th. The energy company reported $1.04 earnings per share for the quarter, topping 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 company had revenue of $0.00 million for the quarter, compared to analyst estimates of $4.10 billion. During the same quarter in the previous year, the company posted $1.10 earnings per share. Equities research analysts expect that Devon Energy Corporation will post 4.85 EPS for the current fiscal year.

Devon Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 30th. Investors of record on Monday, December 15th were issued a $0.24 dividend. The ex-dividend date of this dividend was Monday, December 15th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.7%. Devon Energy’s dividend payout ratio is currently 22.59%.

Analyst Upgrades and Downgrades

DVN has been the topic of several research analyst reports. Wolfe Research lowered their price objective on Devon Energy from $53.00 to $48.00 and set an “outperform” rating on the stock in a report on Monday, January 5th. BMO Capital Markets decreased their target price on Devon Energy from $50.00 to $48.00 and set an “outperform” rating on the stock in a research report on Monday, December 15th. Barclays lowered their price target on Devon Energy from $42.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 7th. Susquehanna boosted their price target on Devon Energy from $40.00 to $42.00 and gave the stock a “positive” rating in a research report on Wednesday, November 12th. Finally, Evercore ISI raised their price objective on Devon Energy from $34.00 to $37.00 and gave the company an “in-line” rating in a report on Monday, October 6th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $44.62.

Devon Energy 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.