<div id="readability-page-1"><p>Tortoise Capital Advisors L.L.C. cut its position in shares of Devon Energy Co. (NYSE:DVN - Free Report) by 7.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 244,149 shares of the energy company's stock after selling 18,810 shares during the period. Tortoise Capital Advisors L.L.C.'s holdings in Devon Energy were worth $11,573,000 at the end of the most recent reporting period.</p><ul><li>Don't Miss Out on These Top 3 Stocks for a September to Remember</li></ul><p>Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Triad Wealth Partners LLC acquired a new position in shares of Devon Energy in the 2nd quarter valued at $27,000. Manchester Capital Management LLC acquired a new position in Devon Energy in the fourth quarter worth about $28,000. Tradewinds Capital Management LLC acquired a new stake in Devon Energy during the first quarter valued at approximately $30,000. Jones Financial Companies Lllp boosted its holdings in Devon Energy by 104.8% during the fourth quarter. Jones Financial Companies Lllp now owns 731 shares of the energy company's stock valued at $33,000 after purchasing an additional 374 shares in the last quarter. Finally, 1620 Investment Advisors Inc. bought a new stake in shares of Devon Energy in the 2nd quarter valued at approximately $34,000. 69.72% of the stock is owned by institutional investors. </p><h2>Devon Energy Trading Down 1.8 %</h2><p>Shares of DVN opened at $41.33 on Friday. The stock's fifty day simple moving average is $45.39 and its 200-day simple moving average is $47.53. The company has a quick ratio of 1.03, a current ratio of 1.11 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $26.12 billion, a PE ratio of 7.89, a price-to-earnings-growth ratio of 1.26 and a beta of 2.03. Devon Energy Co. has a 12-month low of $40.47 and a 12-month high of $55.09. </p><br/><ul><li>Analysts Are Bullish on These 3 Undervalued Stocks</li></ul><p>Devon Energy (NYSE:DVN - Get Free Report) last issued its earnings results on Tuesday, August 6th. The energy company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.15. The company had revenue of $3.92 billion for the quarter, compared to analyst estimates of $3.90 billion. Devon Energy had a net margin of 22.60% and a return on equity of 29.14%. The company's revenue for the quarter was up 13.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.18 EPS. As a group, research analysts predict that Devon Energy Co. will post 5.37 earnings per share for the current year. </p><h2>Devon Energy Dividend Announcement</h2><p>The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.13%. The ex-dividend date of this dividend is Friday, September 13th. Devon Energy's payout ratio is 16.79%. </p><h2>Analysts Set New Price Targets</h2><ul><li>3 large caps near 52-week lows with large dividends</li></ul><p>DVN has been the subject of several analyst reports. Piper Sandler cut their target price on Devon Energy from $65.00 to $57.00 and set an &#34;overweight&#34; rating for the company in a research report on Thursday, August 15th. JPMorgan Chase &amp; Co. upped their target price on shares of Devon Energy from $62.00 to $64.00 and gave the stock an &#34;overweight&#34; rating in a report on Monday, July 8th. Sanford C. Bernstein dropped their target price on shares of Devon Energy from $48.00 to $43.00 and set a &#34;market perform&#34; rating for the company in a research report on Wednesday, July 17th. StockNews.com lowered shares of Devon Energy from a &#34;buy&#34; rating to a &#34;hold&#34; rating in a research report on Monday, September 2nd. Finally, Scotiabank dropped their price objective on shares of Devon Energy from $67.00 to $60.00 and set a &#34;sector outperform&#34; rating for the company in a report on Friday, July 12th. Six research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of &#34;Moderate Buy&#34; and an average price target of $58.63.</p><p><b>Check Out Our Latest Analysis on DVN</b></p><h2>Devon Energy Profile</h2> (Free Report)<p>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.</p><h2>Recommended Stories</h2><ul><li>Five stocks we like better than Devon Energy</li><li>3 Best Fintech Stocks for a Portfolio Boost</li><li>Is Merck Stock Undervalued After Its Colossal Earnings Growth?</li><li>What is MarketRank™? How to Use it</li><li>Top 5 ETFs for Every Investor: From Semiconductors to Defense</li><li>What is a Bond Market Holiday? How to Invest and Trade</li><li>Blade Air Mobility: This Under-the-Radar Stock Could Double Soon</li></ul><p><strong>Want to see what other hedge funds are holding DVN?</strong> Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Devon Energy Co. (NYSE:DVN - Free Report).</p><p><img src="https://imageproxy.pbkrs.com/https://www.marketbeat.com/scripts/SECFilingChart.ashx/query-UHJlZml4PU5ZU0UmU3ltYm9sPURWTg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="650" height="350" original-src="https://imageproxy.pbkrs.com/https://www.marketbeat.com/scripts/SECFilingChart.ashx/query-UHJlZml4PU5ZU0UmU3ltYm9sPURWTg"/></p><p><em>This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. 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<p>Tortoise Capital Advisors L.L.C. reduced its shares in Devon Energy Co. (NYSE:DVN) by 7.2% in the second quarter, now holding 244,149 shares after selling 18,810 shares. Institutional ownership is at 69.72%. Devon Energy's stock is currently trading down 1.8%, with recent earnings of $0.41 EPS and a revenue of $1.92 billion. The company announced a quarterly dividend of $0.22 per share, with an ex-dividend date of September 13. Analysts' ratings show a consensus of "Moderate Buy" with price targets ranging between $53.00 and $62.00.</p>

Tortoise Capital Advisors L.L.C. Sells 18,810 Shares of Devon Energy Co. (NYSE:DVN)