Mutual Advisors LLC Makes New Investment in Devon Energy Co. (NYSE:DVN)

Mutual Advisors LLC bought a new stake in shares of Devon Energy Co. (NYSE:DVN) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 8,006 shares of the energy company’s stock, valued at approximately $363,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in DVN. AlphaCrest Capital Management LLC bought a new position in Devon Energy in the 1st quarter worth $364,000. Acadian Asset Management LLC bought a new position in Devon Energy in the first quarter worth about $188,000. Blair William & Co. IL lifted its holdings in Devon Energy by 52.1% in the first quarter. Blair William & Co. IL now owns 99,120 shares of the energy company’s stock worth $5,861,000 after buying an additional 33,936 shares during the period. Sei Investments Co. boosted its position in Devon Energy by 9.2% during the 1st quarter. Sei Investments Co. now owns 414,354 shares of the energy company’s stock valued at $24,500,000 after acquiring an additional 34,870 shares in the last quarter. Finally, Canada Pension Plan Investment Board purchased a new position in shares of Devon Energy during the 1st quarter worth approximately $26,000. Institutional investors own 69.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on DVN. Morgan Stanley raised their target price on Devon Energy from $48.00 to $49.00 and gave the company an “overweight” rating in a research note on Thursday. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $55.00 target price on shares of Devon Energy in a research report on Thursday, March 7th. UBS Group lowered their price target on shares of Devon Energy from $52.00 to $48.00 and set a “neutral” rating for the company in a research report on Thursday, December 14th. Raymond James decreased their target price on shares of Devon Energy from $53.00 to $52.00 and set an “outperform” rating for the company in a research note on Wednesday, January 24th. Finally, Citigroup boosted their price target on Devon Energy from $52.00 to $55.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Devon Energy presently has an average rating of “Moderate Buy” and a consensus price target of $55.19.

Devon Energy Stock Up 1.5 %

DVN stock opened at $50.18 on Friday. 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 1-year low of $40.47 and a 1-year high of $56.19. The stock has a market capitalization of $31.86 billion, a P/E ratio of 8.61 and a beta of 2.18. The business has a fifty day moving average price of $44.45 and a 200-day moving average price of $45.47.

Devon Energy (NYSE:DVN) last posted its earnings results on Tuesday, February 27th. The energy company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.02. Devon Energy had a net margin of 24.56% and a return on equity of 31.72%. The business had revenue of $4.15 billion for the quarter, compared to analysts’ expectations of $3.88 billion. During the same quarter in the prior year, the business earned $1.66 EPS. The business’s revenue for the quarter was down 3.6% compared to the same quarter last year. Equities analysts forecast that Devon Energy Co. will post 4.83 earnings per share for the current fiscal year.

Devon Energy Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were paid a dividend of $0.44 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.76 dividend on an annualized basis and a yield of 3.51%. Devon Energy’s dividend payout ratio is presently 15.09%.

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.