Devon Energy Co. (NYSE:DVN) Shares Bought by MeadowBrook Investment Advisors LLC

MeadowBrook Investment Advisors LLC lifted its holdings in shares of Devon Energy Co. (NYSE:DVN) by 25.3% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 7,135 shares of the energy company’s stock after buying an additional 1,440 shares during the quarter. MeadowBrook Investment Advisors LLC’s holdings in Devon Energy were worth $279,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in DVN. Triad Wealth Partners LLC purchased a new position in Devon Energy in the second quarter valued at about $27,000. 1620 Investment Advisors Inc. acquired a new stake in shares of Devon Energy in the second quarter valued at approximately $34,000. Capital Performance Advisors LLP acquired a new stake in shares of Devon Energy in the third quarter valued at approximately $35,000. PSI Advisors LLC grew its position in shares of Devon Energy by 66.7% in the second quarter. PSI Advisors LLC now owns 750 shares of the energy company’s stock valued at $36,000 after purchasing an additional 300 shares during the last quarter. Finally, LRI Investments LLC acquired a new stake in shares of Devon Energy in the first quarter valued at approximately $39,000. Institutional investors and hedge funds own 69.72% of the company’s stock.

Devon Energy Price Performance

Shares of DVN stock traded up $0.18 during midday trading on Thursday, reaching $39.29. 880,225 shares of the company were exchanged, compared to its average volume of 7,415,615. Devon Energy Co. has a 12 month low of $37.76 and a 12 month high of $55.09. The company has a market cap of $25.81 billion, a P/E ratio of 7.25, a PEG ratio of 1.19 and a beta of 2.03. The company’s 50 day moving average price is $40.20 and its two-hundred day moving average price is $44.55. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.11.

Devon Energy (NYSE:DVN) last released its quarterly earnings results on Tuesday, November 5th. The energy company reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $0.01. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%. The company had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $3.72 billion. During the same period in the previous year, the firm earned $1.65 EPS. Devon Energy’s revenue was up 4.9% on a year-over-year basis. On average, sell-side analysts expect that Devon Energy Co. will post 4.86 earnings per share for the current year.

Devon Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.24%. Devon Energy’s payout ratio is currently 16.33%.

Analyst Ratings Changes

DVN has been the topic of several research reports. StockNews.com lowered shares of Devon Energy from a “hold” rating to a “sell” rating in a research report on Thursday, November 7th. Morgan Stanley decreased their target price on shares of Devon Energy from $55.00 to $51.00 and set an “overweight” rating on the stock in a research report on Monday, September 16th. Wells Fargo & Company decreased their target price on shares of Devon Energy from $50.00 to $49.00 and set an “overweight” rating on the stock in a research report on Thursday, November 7th. TD Cowen decreased their target price on shares of Devon Energy from $54.00 to $46.00 and set a “hold” rating on the stock in a research report on Tuesday, November 5th. Finally, Jefferies Financial Group assumed coverage on shares of Devon Energy in a research report on Thursday, October 3rd. They set a “hold” rating and a $45.00 target price on the stock. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $51.80.

Devon Energy 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.