Mutual of America Capital Management LLC Acquires 16,601 Shares of Devon Energy Co. (NYSE:DVN)

Mutual of America Capital Management LLC lifted its stake in Devon Energy Co. (NYSE:DVN) by 9.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 201,918 shares of the energy company’s stock after acquiring an additional 16,601 shares during the period. Mutual of America Capital Management LLC’s holdings in Devon Energy were worth $6,609,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Capital Performance Advisors LLP acquired a new stake in Devon Energy in the 3rd quarter worth $35,000. True Wealth Design LLC lifted its stake in shares of Devon Energy by 3,889.3% in the third quarter. True Wealth Design LLC now owns 1,117 shares of the energy company’s stock valued at $44,000 after buying an additional 1,089 shares during the period. Cromwell Holdings LLC grew its position in Devon Energy by 98.0% during the fourth quarter. Cromwell Holdings LLC now owns 1,208 shares of the energy company’s stock worth $40,000 after buying an additional 598 shares in the last quarter. Hazlett Burt & Watson Inc. increased its stake in Devon Energy by 29.8% during the third quarter. Hazlett Burt & Watson Inc. now owns 1,263 shares of the energy company’s stock valued at $49,000 after acquiring an additional 290 shares during the period. Finally, Activest Wealth Management raised its holdings in Devon Energy by 60.4% in the 3rd quarter. Activest Wealth Management now owns 1,275 shares of the energy company’s stock valued at $50,000 after acquiring an additional 480 shares in the last quarter. Institutional investors and hedge funds own 69.72% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on DVN. JPMorgan Chase & Co. cut Devon Energy from an “overweight” rating to a “neutral” rating and set a $43.00 price objective on the stock. in a research report on Thursday, December 5th. StockNews.com raised shares of Devon Energy from a “sell” rating to a “hold” rating in a report on Friday, January 3rd. Cowen downgraded shares of Devon Energy to a “hold” rating and reduced their price objective for the stock from $46.00 to $45.00 in a report on Tuesday, February 18th. Wolfe Research raised shares of Devon Energy from a “peer perform” rating to an “outperform” rating and set a $45.00 target price on the stock in a research note on Friday, January 3rd. Finally, Susquehanna raised their price target on shares of Devon Energy from $50.00 to $52.00 and gave the stock a “positive” rating in a research note on Thursday, February 20th. Ten equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $48.87.

Devon Energy Price Performance

Shares of DVN stock opened at $34.37 on Tuesday. Devon Energy Co. has a 1 year low of $30.39 and a 1 year high of $55.09. The company has a current ratio of 1.04, a quick ratio of 1.01 and a debt-to-equity ratio of 0.57. The firm’s 50 day moving average is $35.01 and its 200-day moving average is $37.93. The firm has a market capitalization of $22.31 billion, a price-to-earnings ratio of 7.54, a PEG ratio of 1.20 and a beta of 1.98.

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

Devon Energy Increases Dividend

The company also recently disclosed 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 a boost from Devon Energy’s previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a yield of 2.79%. The ex-dividend date is Friday, March 14th. Devon Energy’s payout ratio is currently 21.05%.

Devon Energy 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.