M&R Capital Management Inc. Sells 5,230 Shares of Devon Energy Co. (NYSE:DVN)

M&R Capital Management Inc. lowered its position in Devon Energy Co. (NYSE:DVNFree Report) by 2.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 174,675 shares of the energy company’s stock after selling 5,230 shares during the period. Devon Energy comprises approximately 2.1% of M&R Capital Management Inc.’s holdings, making the stock its 12th largest position. M&R Capital Management Inc.’s holdings in Devon Energy were worth $8,753,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of DVN. Morgan Stanley raised its position in shares of Devon Energy by 23.6% during the third quarter. Morgan Stanley now owns 11,647,104 shares of the energy company’s stock valued at $555,567,000 after buying an additional 2,220,194 shares during the last quarter. Victory Capital Management Inc. grew its stake in Devon Energy by 0.8% during the fourth quarter. Victory Capital Management Inc. now owns 8,539,335 shares of the energy company’s stock valued at $386,832,000 after acquiring an additional 68,339 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Devon Energy by 26.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 7,077,042 shares of the energy company’s stock valued at $320,609,000 after acquiring an additional 1,488,374 shares during the last quarter. Northern Trust Corp lifted its stake in Devon Energy by 1.2% in the 3rd quarter. Northern Trust Corp now owns 6,774,537 shares of the energy company’s stock worth $323,145,000 after purchasing an additional 82,607 shares in the last quarter. Finally, Pacer Advisors Inc. boosted its holdings in shares of Devon Energy by 1,279.7% during the 4th quarter. Pacer Advisors Inc. now owns 6,145,605 shares of the energy company’s stock valued at $278,396,000 after purchasing an additional 5,700,167 shares during the last quarter. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on DVN shares. UBS Group boosted their target price on Devon Energy from $48.00 to $57.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 10th. JPMorgan Chase & Co. raised their target price on shares of Devon Energy from $57.00 to $62.00 and gave the company an “overweight” rating in a report on Monday, April 8th. StockNews.com raised shares of Devon Energy from a “hold” rating to a “buy” rating in a research note on Tuesday. Wells Fargo & Company raised shares of Devon Energy from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $46.00 to $59.00 in a research note on Monday, April 1st. Finally, Scotiabank upped their target price on shares of Devon Energy from $53.00 to $67.00 and gave the company a “sector outperform” rating in a research report on Thursday, April 11th. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, Devon Energy has a consensus rating of “Moderate Buy” and a consensus price target of $59.24.

Read Our Latest Research Report on Devon Energy

Insider Buying and Selling

In other news, EVP Tana K. Cashion sold 20,000 shares of the firm’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $51.04, for a total transaction of $1,020,800.00. Following the transaction, the executive vice president now owns 104,182 shares in the company, valued at $5,317,449.28. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.73% of the stock is owned by insiders.

Devon Energy Trading Up 0.0 %

DVN stock traded up $0.02 during midday trading on Tuesday, reaching $45.78. The company’s stock had a trading volume of 3,078,182 shares, compared to its average volume of 7,367,553. Devon Energy Co. has a 1 year low of $40.47 and a 1 year high of $55.09. The firm has a market capitalization of $28.93 billion, a price-to-earnings ratio of 8.73 and a beta of 2.08. The stock has a fifty day simple moving average of $49.86 and a two-hundred day simple moving average of $46.77. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.97 and a current ratio of 1.04.

Devon Energy (NYSE:DVNGet Free Report) last posted its quarterly earnings results on Wednesday, May 1st. The energy company reported $1.16 EPS for the quarter, topping the consensus estimate of $1.10 by $0.06. The company had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.64 billion. Devon Energy had a net margin of 22.27% and a return on equity of 29.02%. The firm’s revenue was down 5.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.46 EPS. On average, equities research analysts predict that Devon Energy Co. will post 5.18 EPS for the current year.

Devon Energy Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be issued a $0.22 dividend. The ex-dividend date is Friday, June 14th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.92%. Devon Energy’s payout ratio is 16.79%.

About Devon Energy

(Free Report)

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.

See Also

Want to see what other hedge funds are holding DVN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Devon Energy Co. (NYSE:DVNFree Report).

Institutional Ownership by Quarter for Devon Energy (NYSE:DVN)

Receive News & Ratings for Devon Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Devon Energy and related companies with MarketBeat.com's FREE daily email newsletter.