Meeder Advisory Services Inc. Acquires 3,725 Shares of Devon Energy Co. (NYSE:DVN)

Meeder Advisory Services Inc. raised its holdings in shares of Devon Energy Co. (NYSE:DVN) by 52.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,848 shares of the energy company’s stock after acquiring an additional 3,725 shares during the quarter. Meeder Advisory Services Inc.’s holdings in Devon Energy were worth $514,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of DVN. Creekmur Asset Management LLC purchased a new position in shares of Devon Energy during the 4th quarter valued at about $791,000. Wahed Invest LLC boosted its position in shares of Devon Energy by 6.3% in the fourth quarter. Wahed Invest LLC now owns 10,944 shares of the energy company’s stock worth $496,000 after purchasing an additional 648 shares during the period. Tradewinds Capital Management LLC bought a new stake in shares of Devon Energy during the 1st quarter valued at $30,000. MCF Advisors LLC lifted its stake in shares of Devon Energy by 5.6% during the 1st quarter. MCF Advisors LLC now owns 4,023 shares of the energy company’s stock valued at $202,000 after buying an additional 215 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in Devon Energy by 39.2% in the 1st quarter. GAMMA Investing LLC now owns 10,927 shares of the energy company’s stock worth $548,000 after buying an additional 3,079 shares during the period. Institutional investors own 69.72% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on DVN. Sanford C. Bernstein lowered their price objective on Devon Energy from $48.00 to $43.00 and set a “market perform” rating on the stock in a research report on Wednesday, July 17th. Truist Financial cut their price objective on shares of Devon Energy from $67.00 to $64.00 and set a “buy” rating for the company in a report on Tuesday, July 9th. Piper Sandler reduced their price objective on shares of Devon Energy from $65.00 to $57.00 and set an “overweight” rating on the stock in a research report on Thursday, August 15th. Bank of America restated a “buy” rating and set a $64.00 target price on shares of Devon Energy in a research report on Friday, June 14th. Finally, Wells Fargo & Company dropped their price objective on shares of Devon Energy from $57.00 to $55.00 and set an “overweight” rating for the company in a report on Wednesday, August 14th. Six analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Devon Energy has an average rating of “Moderate Buy” and a consensus target price of $57.81.

Devon Energy Stock Down 0.3 %

Shares of DVN opened at $39.45 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.11 and a debt-to-equity ratio of 0.45. Devon Energy Co. has a 52-week low of $39.02 and a 52-week high of $55.09. The company has a market cap of $24.93 billion, a PE ratio of 7.53, a P/E/G ratio of 1.13 and a beta of 2.03. The business has a fifty day moving average of $44.64 and a 200 day moving average of $47.43.

Devon Energy (NYSE:DVN) last announced its earnings results on Tuesday, August 6th. The energy company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.15. Devon Energy had a return on equity of 29.14% and a net margin of 22.60%. The business had revenue of $3.92 billion during the quarter, compared to analyst estimates of $3.90 billion. During the same quarter in the previous year, the business earned $1.18 earnings per share. The company’s revenue for the quarter was up 13.4% compared to the same quarter last year. On average, sell-side analysts expect that Devon Energy Co. will post 5.36 EPS for the current year.

Devon Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be given a $0.22 dividend. The ex-dividend date is Friday, September 13th. This represents a $0.88 annualized dividend and a yield of 2.23%. Devon Energy’s dividend payout ratio (DPR) is 16.79%.

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.