Meeder Asset Management Inc. Has $221,000 Stake in Devon Energy Co. (NYSE:DVN)

Meeder Asset Management Inc. trimmed its position in Devon Energy Co. (NYSE:DVN) by 51.2% during the third quarter, HoldingsChannel.com reports. The firm owned 5,658 shares of the energy company’s stock after selling 5,946 shares during the quarter. Meeder Asset Management Inc.’s holdings in Devon Energy were worth $221,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of DVN. Triad Wealth Partners LLC bought a new stake in Devon Energy in the 2nd quarter valued at approximately $27,000. 1620 Investment Advisors Inc. bought a new stake in shares of Devon Energy in the second quarter worth $34,000. PSI Advisors LLC boosted its holdings in Devon Energy by 66.7% during the second quarter. PSI Advisors LLC now owns 750 shares of the energy company’s stock worth $36,000 after purchasing an additional 300 shares during the last quarter. LRI Investments LLC bought a new position in Devon Energy in the first quarter valued at $39,000. Finally, Capital Performance Advisors LLP bought a new position in Devon Energy in the third quarter valued at $35,000. 69.72% of the stock is owned by institutional investors and hedge funds.

Devon Energy Stock Performance

DVN stock opened at $37.91 on Wednesday. Devon Energy Co. has a 1-year low of $37.76 and a 1-year high of $55.09. The company has a current ratio of 1.11, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. The stock has a 50-day moving average price of $39.99 and a 200-day moving average price of $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 (NYSE:DVN) last posted its quarterly earnings results on Tuesday, November 5th. The energy company reported $1.10 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.01. Devon Energy had a net margin of 21.71% and a return on equity of 24.73%. The firm had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $3.72 billion. During the same period in the previous year, the firm posted $1.65 earnings per share. The business’s revenue was up 4.9% compared to the same quarter last year. As a group, equities research analysts expect that Devon Energy Co. will post 4.84 earnings per share for the current year.

Devon Energy Dividend Announcement

The firm 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. This represents a $0.88 annualized dividend and a yield of 2.32%. The ex-dividend date of this dividend is Friday, December 13th. Devon Energy’s payout ratio is currently 16.33%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on DVN. StockNews.com downgraded Devon Energy from a “hold” rating to a “sell” rating in a research report on Thursday, November 7th. Evercore ISI cut their target price on shares of Devon Energy from $55.00 to $50.00 and set an “in-line” rating for the company in a research note on Monday, September 30th. Raymond James reduced their price target on Devon Energy from $58.00 to $51.00 in a research note on Tuesday, November 5th. Susquehanna decreased their target price on shares of Devon Energy from $63.00 to $62.00 and set a “positive” rating on the stock in a research report on Friday, October 18th. Finally, Benchmark restated a “hold” rating on shares of Devon Energy in a research report on Tuesday, October 15th. One 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. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $51.85.

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.