7,772 Shares in Devon Energy Co. (NYSE:DVN) Bought by MMA Asset Management LLC

MMA Asset Management LLC purchased a new position in Devon Energy Co. (NYSE:DVN) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,772 shares of the energy company’s stock, valued at approximately $254,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in DVN. EnCap Energy Capital Fund XI L.P. bought a new stake in Devon Energy in the third quarter worth $461,857,000. EnCap Partners GP LLC bought a new stake in Devon Energy in the third quarter worth $408,653,000. EnCap Energy Capital Fund X L.P. bought a new stake in Devon Energy in the third quarter worth $230,928,000. Pacer Advisors Inc. boosted its holdings in Devon Energy by 16.9% in the third quarter. Pacer Advisors Inc. now owns 11,591,168 shares of the energy company’s stock worth $453,446,000 after acquiring an additional 1,677,652 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in Devon Energy by 90.8% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 2,724,407 shares of the energy company’s stock worth $89,170,000 after acquiring an additional 1,296,590 shares in the last quarter. 69.72% of the stock is owned by hedge funds and other institutional investors.

Devon Energy Stock Performance

Shares of DVN opened at $36.24 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.04 and a debt-to-equity ratio of 0.57. The business has a 50-day simple moving average of $34.94 and a two-hundred day simple moving average of $38.05. The stock has a market cap of $23.52 billion, a price-to-earnings ratio of 7.95, a PEG ratio of 1.20 and a beta of 1.98. Devon Energy Co. has a 52 week low of $30.39 and a 52 week high of $55.09.

Devon Energy (NYSE:DVN) last issued its quarterly earnings results on Tuesday, February 18th. The energy company reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.16. Devon Energy had a return on equity of 22.52% and a net margin of 18.14%. The business had revenue of $4.40 billion during the quarter, compared to analysts’ expectations of $4.25 billion. On average, analysts expect that Devon Energy Co. will post 4.85 EPS for the current year.

Devon Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.96 annualized dividend and a dividend yield of 2.65%. This is a boost from Devon Energy’s previous quarterly dividend of $0.22. Devon Energy’s dividend payout ratio (DPR) is currently 21.05%.

Analysts Set New Price Targets

Several research firms have commented on DVN. Citigroup dropped their target price on Devon Energy from $55.00 to $48.00 and set a “buy” rating on the stock in a report on Tuesday, November 26th. Cowen downgraded Devon Energy to a “hold” rating and lowered their price target for the company from $46.00 to $45.00 in a report on Tuesday, February 18th. Raymond James upped their price target on Devon Energy from $53.00 to $54.00 and gave the company an “outperform” rating in a report on Thursday, January 23rd. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $50.00 price target on shares of Devon Energy in a report on Friday, January 10th. Finally, StockNews.com raised Devon Energy from a “sell” rating to a “hold” rating in a report on Friday, January 3rd. Ten research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, Devon Energy currently has a consensus rating of “Moderate Buy” and an average price target of $48.87.

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.