MeadowBrook Investment Advisors LLC Buys 1,440 Shares of Devon Energy Co. (NYSE:DVN)

MeadowBrook Investment Advisors LLC raised its stake in shares of Devon Energy Co. (NYSE:DVN) by 25.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,135 shares of the energy company’s stock after acquiring an additional 1,440 shares during the quarter. MeadowBrook Investment Advisors LLC’s holdings in Devon Energy were worth $279,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Triad Wealth Partners LLC purchased a new position in Devon Energy in the 2nd quarter worth $27,000. 1620 Investment Advisors Inc. purchased a new position in Devon Energy in the 2nd quarter worth $34,000. Capital Performance Advisors LLP purchased a new position in shares of Devon Energy during the 3rd quarter valued at about $35,000. PSI Advisors LLC raised its stake in shares of Devon Energy by 66.7% during the 2nd quarter. PSI Advisors LLC now owns 750 shares of the energy company’s stock valued at $36,000 after buying an additional 300 shares during the last quarter. Finally, LRI Investments LLC purchased a new position in shares of Devon Energy during the 1st quarter valued at about $39,000. Institutional investors and hedge funds own 69.72% of the company’s stock.

Devon Energy Stock Up 0.5 %

Shares of DVN stock traded up $0.18 on Thursday, reaching $39.29. 880,225 shares of the stock were exchanged, compared to its average volume of 7,415,615. The company has a current ratio of 1.11, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. The business’s 50 day moving average price is $40.20 and its 200 day moving average price is $44.55. The company has a market capitalization of $25.81 billion, a price-to-earnings ratio of 7.25, a PEG ratio of 1.19 and a beta of 2.03. Devon Energy Co. has a twelve month low of $37.76 and a twelve month high of $55.09.

Devon Energy (NYSE:DVN) last issued its 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. The firm had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $3.72 billion. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%. The company’s revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.65 earnings per share. As a group, sell-side analysts expect that Devon Energy Co. will post 4.86 earnings per share for the current fiscal year.

Devon Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, December 13th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.88 annualized dividend and a yield of 2.24%. Devon Energy’s dividend payout ratio is presently 16.33%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on DVN shares. Royal Bank of Canada reiterated a “sector perform” rating and set a $57.00 price objective on shares of Devon Energy in a research note on Tuesday, September 3rd. Morgan Stanley reduced their price objective on Devon Energy from $55.00 to $51.00 and set an “overweight” rating for the company in a research note on Monday, September 16th. Evercore ISI reduced their price objective on Devon Energy from $55.00 to $50.00 and set an “in-line” rating for the company in a research note on Monday, September 30th. TD Cowen reduced their price objective on Devon Energy from $54.00 to $46.00 and set a “hold” rating for the company in a research note on Tuesday, November 5th. Finally, Mizuho cut their price target on Devon Energy from $53.00 to $51.00 and set an “outperform” rating for the company in a research note on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, Devon Energy has an average rating of “Hold” and an average target price of $51.80.

About Devon Energy

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.