Michels Family Financial LLC Acquires Shares of 11,007 Devon Energy Co. (NYSE:DVN)

Michels Family Financial LLC acquired a new stake in Devon Energy Co. (NYSE:DVN - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 11,007 shares of the energy company's stock, valued at approximately $360,000.

A number of other hedge funds and other institutional investors have also modified their holdings of DVN. Hurley Capital LLC bought a new position in Devon Energy during the fourth quarter worth $26,000. Accredited Wealth Management LLC acquired a new stake in Devon Energy during the 4th quarter worth approximately $28,000. Cromwell Holdings LLC boosted its stake in Devon Energy by 98.0% in the 4th quarter. Cromwell Holdings LLC now owns 1,208 shares of the energy company's stock valued at $40,000 after purchasing an additional 598 shares during the period. Sierra Ocean LLC bought a new position in Devon Energy during the 4th quarter worth $43,000. Finally, Thompson Investment Management Inc. lifted its holdings in shares of Devon Energy by 60.0% during the fourth quarter. Thompson Investment Management Inc. now owns 1,600 shares of the energy company's stock worth $52,000 after buying an additional 600 shares in the last quarter. Institutional investors and hedge funds own 69.72% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on DVN shares. JPMorgan Chase & Co. cut their price target on Devon Energy from $48.00 to $42.00 and set a "neutral" rating for the company in a research note on Thursday, March 13th. Wells Fargo & Company lifted their price objective on Devon Energy from $44.00 to $46.00 and gave the company an "overweight" rating in a report on Wednesday, May 14th. UBS Group reduced their target price on Devon Energy from $41.00 to $35.00 and set a "neutral" rating on the stock in a report on Monday, April 7th. Morgan Stanley boosted their price objective on shares of Devon Energy from $42.00 to $44.00 and gave the company an "overweight" rating in a research report on Friday. Finally, Wall Street Zen raised shares of Devon Energy from a "sell" rating to a "hold" rating in a report on Thursday, May 15th. Ten analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $43.71.

Devon Energy Price Performance

Devon Energy stock traded up $0.18 during mid-day trading on Tuesday, reaching $31.34. 7,346,772 shares of the company's stock traded hands, compared to its average volume of 8,654,071. Devon Energy Co. has a 12-month low of $25.89 and a 12-month high of $49.35. The company has a market cap of $20.12 billion, a price-to-earnings ratio of 6.87, a PEG ratio of 1.20 and a beta of 1.00. The stock has a 50 day moving average of $32.10 and a two-hundred day moving average of $34.20. The company has a quick ratio of 1.01, a current ratio of 1.04 and a debt-to-equity ratio of 0.57.

Devon Energy (NYSE:DVN - Get Free Report) last announced its earnings results on Tuesday, May 6th. The energy company reported $1.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.27 by ($0.06). Devon Energy had a net margin of 18.14% and a return on equity of 22.52%. The business had revenue of $4.45 billion for the quarter, compared to analysts' expectations of $4.31 billion. During the same quarter in the prior year, the company posted $1.16 earnings per share. The firm's quarterly revenue was up 23.8% compared to the same quarter last year. Equities analysts forecast that Devon Energy Co. will post 4.85 earnings per share for the current year.

Devon Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 3.06%. The ex-dividend date is Friday, June 13th. Devon Energy's payout ratio is 21.87%.

About Devon Energy

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.