Meeder Asset Management Inc. Buys 52,258 Shares of Devon Energy Co. (NYSE:DVN)

Meeder Asset Management Inc. raised its stake in shares of Devon Energy Co. (NYSE:DVN) by 923.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 57,916 shares of the energy company’s stock after buying an additional 52,258 shares during the quarter. Meeder Asset Management Inc.’s holdings in Devon Energy were worth $1,896,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of DVN. Legacy Investment Solutions LLC acquired a new position in Devon Energy during the third quarter valued at approximately $8,002,000. Petrus Trust Company LTA grew its holdings in shares of Devon Energy by 394.7% in the 3rd quarter. Petrus Trust Company LTA now owns 21,827 shares of the energy company’s stock valued at $854,000 after buying an additional 17,415 shares during the period. Klein Pavlis & Peasley Financial Inc. bought a new stake in shares of Devon Energy in the 4th quarter valued at $782,000. Fortem Financial Group LLC acquired a new stake in Devon Energy during the 3rd quarter worth $583,000. Finally, Centiva Capital LP lifted its holdings in Devon Energy by 108.4% during the third quarter. Centiva Capital LP now owns 57,361 shares of the energy company’s stock worth $2,244,000 after acquiring an additional 29,837 shares in the last quarter. 69.72% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on DVN. Wolfe Research upgraded Devon Energy from a “peer perform” rating to an “outperform” rating and set a $45.00 price target for the company in a report on Friday, January 3rd. Sanford C. Bernstein upgraded shares of Devon Energy from a “market perform” rating to an “outperform” rating and set a $45.00 target price on the stock in a report on Wednesday, January 15th. Barclays upped their price target on shares of Devon Energy from $43.00 to $44.00 and gave the company an “equal weight” rating in a report on Thursday, February 20th. Williams Trading set a $50.00 price objective on shares of Devon Energy in a report on Wednesday, March 5th. Finally, Mizuho cut their price objective on shares of Devon Energy from $51.00 to $47.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. Ten investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $48.29.

Devon Energy Stock Down 0.3 %

Devon Energy stock opened at $36.79 on Monday. Devon Energy Co. has a fifty-two week low of $30.39 and a fifty-two week high of $55.09. The firm has a market capitalization of $23.87 billion, a PE ratio of 8.07, a P/E/G ratio of 1.20 and a beta of 1.91. The company’s 50-day moving average is $35.38 and its 200-day moving average is $36.84. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.04 and a quick ratio of 1.01.

Devon Energy (NYSE:DVN) last released its quarterly earnings data on Tuesday, February 18th. The energy company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.16. Devon Energy had a return on equity of 22.52% and a net margin of 18.14%. The firm had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.25 billion. Sell-side analysts anticipate that Devon Energy Co. will post 4.85 earnings per share for the current year.

Devon Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a dividend of $0.24 per share. This is an increase from Devon Energy’s previous quarterly dividend of $0.22. The ex-dividend date is Friday, March 14th. This represents a $0.96 annualized dividend and a yield of 2.61%. Devon Energy’s dividend payout ratio (DPR) is currently 21.05%.

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.