Mesirow Financial Investment Management Inc. Takes $512,000 Position in Devon Energy Co. (NYSE:DVN)

Mesirow Financial Investment Management Inc. acquired a new position in shares of Devon Energy Co. (NYSE:DVN) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 13,097 shares of the energy company’s stock, valued at approximately $512,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. William B. Walkup & Associates Inc. acquired a new stake in shares of Devon Energy during the 2nd quarter worth approximately $1,026,000. Gordian Capital Singapore Pte Ltd acquired a new stake in Devon Energy during the second quarter worth $711,000. New York State Teachers Retirement System raised its position in Devon Energy by 14.2% in the third quarter. New York State Teachers Retirement System now owns 704,831 shares of the energy company’s stock valued at $27,573,000 after purchasing an additional 87,462 shares during the period. CWM LLC lifted its stake in shares of Devon Energy by 73.4% in the 3rd quarter. CWM LLC now owns 38,969 shares of the energy company’s stock valued at $1,524,000 after purchasing an additional 16,490 shares during the last quarter. Finally, J.W. Cole Advisors Inc. lifted its stake in shares of Devon Energy by 11.9% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 120,800 shares of the energy company’s stock valued at $4,726,000 after purchasing an additional 12,882 shares during the last quarter. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Morgan Stanley reduced their price objective on shares of Devon Energy from $55.00 to $51.00 and set an “overweight” rating on the stock in a report on Monday, September 16th. Scotiabank reduced their price target on shares of Devon Energy from $60.00 to $48.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Evercore ISI lowered their price objective on shares of Devon Energy from $55.00 to $50.00 and set an “in-line” rating for the company in a research report on Monday, September 30th. Benchmark reissued a “hold” rating on shares of Devon Energy in a research report on Tuesday, October 15th. Finally, JPMorgan Chase & Co. lowered their price target on Devon Energy from $64.00 to $51.00 and set an “overweight” rating for the company in a research report on Thursday, September 12th. One analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $51.80.

Devon Energy Trading Up 0.2 %

NYSE:DVN opened at $38.96 on Tuesday. Devon Energy Co. has a 1 year low of $37.76 and a 1 year high of $55.09. The stock has a market cap of $25.59 billion, a P/E ratio of 7.23, a P/E/G ratio of 1.21 and a beta of 2.03. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.03 and a current ratio of 1.11. The stock has a 50-day simple moving average of $40.36 and a 200-day simple moving average of $44.69.

Devon Energy (NYSE:DVN) last announced its quarterly earnings results on Tuesday, November 5th. The energy company reported $1.10 EPS 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 net margin of 21.71% and a return on equity of 24.73%. The firm’s revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.65 earnings per share. As a group, analysts anticipate that Devon Energy Co. will post 4.89 earnings per share for the current fiscal year.

Devon Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, December 13th will be given a $0.22 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.88 dividend on an annualized basis and a yield of 2.26%. Devon Energy’s dividend payout ratio (DPR) is presently 16.33%.

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.