Mutual of America Capital Management LLC Has $6.61 Million Stock Holdings in Devon Energy Co. (NYSE:DVN)

Mutual of America Capital Management LLC grew its stake in Devon Energy Co. (NYSE:DVN) by 9.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 201,918 shares of the energy company’s stock after buying 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 quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Hazlett Burt & Watson Inc. grew its holdings 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 purchasing an additional 290 shares during the period. Sfmg LLC boosted its position in shares of Devon Energy by 0.5% during the third quarter. Sfmg LLC now owns 64,871 shares of the energy company’s stock worth $2,538,000 after purchasing an additional 294 shares in the last quarter. Redwood Wealth Management Group LLC increased its position in shares of Devon Energy by 3.9% in the 4th quarter. Redwood Wealth Management Group LLC now owns 8,141 shares of the energy company’s stock valued at $266,000 after buying an additional 309 shares in the last quarter. Cornerstone Wealth Management LLC increased its position in shares of Devon Energy by 1.6% in the 4th quarter. Cornerstone Wealth Management LLC now owns 21,242 shares of the energy company’s stock valued at $695,000 after buying an additional 326 shares in the last quarter. Finally, Annex Advisory Services LLC raised its stake in Devon Energy by 1.2% during the 4th quarter. Annex Advisory Services LLC now owns 27,021 shares of the energy company’s stock worth $884,000 after buying an additional 327 shares during the period. 69.72% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Mizuho lowered their price target on Devon Energy from $51.00 to $47.00 and set an “outperform” rating for the company in a report on Monday, December 16th. Piper Sandler increased their target price on Devon Energy from $54.00 to $55.00 and gave the stock an “overweight” rating in a research note on Monday, February 24th. Sanford C. Bernstein raised shares of Devon Energy from a “market perform” rating to an “outperform” rating and set a $45.00 price target on the stock in a research note on Wednesday, January 15th. Cowen downgraded shares of Devon Energy to a “hold” rating and lowered their price objective for the stock from $46.00 to $45.00 in a research report on Tuesday, February 18th. Finally, TD Cowen cut their price objective on shares of Devon Energy from $54.00 to $46.00 and set a “hold” rating on the stock in a research report on Tuesday, November 5th. Ten research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, Devon Energy presently has an average rating of “Moderate Buy” and an average price target of $48.87.

Devon Energy Price Performance

Shares of DVN opened at $34.37 on Tuesday. 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 company’s fifty day simple moving average is $35.01 and its 200 day simple moving average is $37.93. Devon Energy Co. has a 1-year low of $30.39 and a 1-year high of $55.09. The company has a market cap 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 released its quarterly earnings data on Tuesday, February 18th. The energy company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.16. The company had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.25 billion. Devon Energy had a net margin of 18.14% and a return on equity of 22.52%. On average, research analysts forecast that Devon Energy Co. will post 4.85 earnings per share for the current fiscal year.

Devon Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a dividend of $0.24 per share. The ex-dividend date is Friday, March 14th. This is a positive change from Devon Energy’s previous quarterly dividend of $0.22. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.79%. Devon Energy’s payout ratio is presently 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.