Meeder Asset Management Inc. Sells 5,946 Shares of Devon Energy Co. (NYSE:DVN)

Meeder Asset Management Inc. cut its position in shares of Devon Energy Co. (NYSE:DVN) by 51.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,658 shares of the energy company’s stock after selling 5,946 shares during the period. Meeder Asset Management Inc.’s holdings in Devon Energy were worth $221,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Triad Wealth Partners LLC bought a new position in shares of Devon Energy during the 2nd quarter worth about $27,000. 1620 Investment Advisors Inc. acquired a new stake in Devon Energy during the second quarter valued at approximately $34,000. PSI Advisors LLC grew its stake in shares of Devon Energy by 66.7% in the 2nd quarter. PSI Advisors LLC now owns 750 shares of the energy company’s stock valued at $36,000 after purchasing an additional 300 shares during the period. LRI Investments LLC acquired a new position in shares of Devon Energy in the 1st quarter worth approximately $39,000. Finally, Capital Performance Advisors LLP bought a new position in shares of Devon Energy during the 3rd quarter worth approximately $35,000. 69.72% of the stock is currently owned by institutional investors and hedge funds.

Devon Energy Trading Down 2.2 %

DVN opened at $37.91 on Wednesday. The firm’s fifty day moving average is $39.99 and its two-hundred day moving average is $44.15. The firm has a market cap of $24.90 billion, a PE ratio of 7.03, a price-to-earnings-growth ratio of 1.20 and a beta of 2.03. Devon Energy Co. has a twelve month low of $37.76 and a twelve month high of $55.09. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.11.

Devon Energy (NYSE:DVN) last issued its quarterly earnings data on Tuesday, November 5th. The energy company reported $1.10 EPS for the quarter, topping the consensus estimate of $1.09 by $0.01. Devon Energy had a return on equity of 24.73% and a net margin of 21.71%. The business had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $3.72 billion. During the same quarter last year, the business posted $1.65 EPS. The firm’s revenue was up 4.9% compared to the same quarter last year. Equities research analysts anticipate that Devon Energy Co. will post 4.84 EPS for the current year.

Devon Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.32%. The ex-dividend date is Friday, December 13th. Devon Energy’s dividend payout ratio (DPR) is presently 16.33%.

Analyst Ratings Changes

DVN has been the topic of a number of analyst reports. BMO Capital Markets lowered their price target on Devon Energy from $52.00 to $48.00 and set an “outperform” rating on the stock in a research report on Friday, October 4th. Raymond James dropped their target price on shares of Devon Energy from $58.00 to $51.00 in a research report on Tuesday, November 5th. Truist Financial lowered shares of Devon Energy from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $49.00 to $43.00 in a report on Thursday, November 7th. StockNews.com downgraded Devon Energy from a “hold” rating to a “sell” rating in a report on Thursday, November 7th. Finally, Susquehanna dropped their price target on Devon Energy from $63.00 to $62.00 and set a “positive” rating for the company in a report on Friday, October 18th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $51.85.

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.