Devon Energy Co. (NYSE:DVN) Shares Sold by Meyer Handelman Co.

Meyer Handelman Co. trimmed its holdings in shares of Devon Energy Co. (NYSE:DVN) by 72.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 20,731 shares of the energy company’s stock after selling 54,300 shares during the period. Meyer Handelman Co.’s holdings in Devon Energy were worth $679,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Capital Performance Advisors LLP bought a new stake in shares of Devon Energy during the 3rd quarter valued at about $35,000. Future Financial Wealth Managment LLC acquired a new position in Devon Energy in the third quarter valued at approximately $39,000. True Wealth Design LLC grew its holdings in shares of Devon Energy by 3,889.3% during the third quarter. True Wealth Design LLC now owns 1,117 shares of the energy company’s stock valued at $44,000 after purchasing an additional 1,089 shares during the last quarter. Hazlett Burt & Watson Inc. raised its position in shares of Devon Energy by 29.8% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 1,263 shares of the energy company’s stock worth $49,000 after purchasing an additional 290 shares during the period. Finally, Activest Wealth Management lifted its holdings in shares of Devon Energy by 60.4% in the 3rd quarter. Activest Wealth Management now owns 1,275 shares of the energy company’s stock worth $50,000 after purchasing an additional 480 shares during the last quarter. 69.72% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have weighed in on DVN. Wolfe Research raised Devon Energy from a “peer perform” rating to an “outperform” rating and set a $45.00 target price on the stock in a research report on Friday, January 3rd. Benchmark raised shares of Devon Energy from a “hold” rating to a “buy” rating and set a $44.00 price objective on the stock in a report on Tuesday. Royal Bank of Canada reissued a “sector perform” rating and set a $50.00 target price on shares of Devon Energy in a research note on Friday, January 10th. StockNews.com upgraded shares of Devon Energy from a “sell” rating to a “hold” rating in a research report on Friday, January 3rd. Finally, Raymond James cut their price target on Devon Energy from $58.00 to $51.00 in a report on Tuesday, November 5th. Nine equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Devon Energy presently has an average rating of “Moderate Buy” and a consensus price target of $49.27.

Devon Energy Stock Up 1.2 %

Devon Energy stock opened at $37.22 on Wednesday. The company has a market capitalization of $24.45 billion, a P/E ratio of 6.91, a P/E/G ratio of 1.07 and a beta of 2.00. Devon Energy Co. has a 1-year low of $30.39 and a 1-year high of $55.09. The firm’s fifty day simple moving average is $35.58 and its 200-day simple moving average is $40.49. The company has a current ratio of 1.11, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61.

Devon Energy (NYSE:DVN) last posted its earnings results on Tuesday, November 5th. The energy company reported $1.10 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.01. The company had revenue of $4.02 billion for the quarter, compared to analyst estimates of $3.72 billion. Devon Energy had a return on equity of 24.73% and a net margin of 21.71%. The business’s revenue was up 4.9% compared to the same quarter last year. During the same period last year, the company earned $1.65 earnings per share. Sell-side analysts forecast that Devon Energy Co. will post 4.79 earnings per share for the current fiscal year.

Devon Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Friday, December 13th were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.88 dividend on an annualized basis and a yield of 2.36%. Devon Energy’s payout ratio is currently 16.33%.

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.