MML Investors Services LLC Has $1.41 Million Stock Position in Devon Energy Co. (NYSE:DVN)

MML Investors Services LLC lifted its position in shares of Devon Energy Co. (NYSE:DVN - Free Report) by 144.3% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 43,122 shares of the energy company's stock after buying an additional 25,473 shares during the quarter. MML Investors Services LLC's holdings in Devon Energy were worth $1,411,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Devon Energy by 7.3% during the fourth quarter. Vanguard Group Inc. now owns 80,682,170 shares of the energy company's stock worth $2,640,727,000 after buying an additional 5,465,692 shares in the last quarter. Geode Capital Management LLC raised its stake in Devon Energy by 6.5% in the fourth quarter. Geode Capital Management LLC now owns 16,931,275 shares of the energy company's stock valued at $552,830,000 after purchasing an additional 1,038,305 shares in the last quarter. Victory Capital Management Inc. raised its stake in Devon Energy by 2.3% in the fourth quarter. Victory Capital Management Inc. now owns 10,203,812 shares of the energy company's stock valued at $333,971,000 after purchasing an additional 232,469 shares in the last quarter. Invesco Ltd. raised its stake in Devon Energy by 32.8% in the fourth quarter. Invesco Ltd. now owns 9,461,719 shares of the energy company's stock valued at $309,682,000 after purchasing an additional 2,335,473 shares in the last quarter. Finally, Thrivent Financial for Lutherans raised its stake in Devon Energy by 10.8% in the fourth quarter. Thrivent Financial for Lutherans now owns 5,694,373 shares of the energy company's stock valued at $186,714,000 after purchasing an additional 554,219 shares in the last quarter. Institutional investors and hedge funds own 69.72% of the company's stock.

Devon Energy Price Performance

Shares of DVN opened at $30.43 on Thursday. The business's 50 day moving average price is $33.15 and its two-hundred day moving average price is $35.22. Devon Energy Co. has a 52-week low of $25.89 and a 52-week high of $52.25. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.01 and a current ratio of 1.04. The firm has a market cap of $19.58 billion, a PE ratio of 6.67, a price-to-earnings-growth ratio of 1.20 and a beta of 1.50.

Devon Energy (NYSE:DVN - Get Free Report) last released its quarterly earnings data on Tuesday, February 18th. The energy company reported $1.16 earnings per share for the quarter, beating analysts' consensus estimates of $1.00 by $0.16. The firm 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, equities analysts anticipate that Devon Energy Co. will post 4.85 EPS for the current year.

Devon Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, March 14th. This is an increase from Devon Energy's previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a dividend yield of 3.15%. Devon Energy's payout ratio is presently 21.05%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Cowen downgraded Devon Energy to a "hold" rating and dropped their price target for the company from $46.00 to $45.00 in a research note on Tuesday, February 18th. Raymond James set a $40.00 target price on Devon Energy in a research note on Monday, April 21st. Bank of America lowered their target price on Devon Energy from $52.00 to $42.00 and set a "buy" rating for the company in a research note on Tuesday. Citigroup lowered their target price on Devon Energy from $46.00 to $43.00 and set a "buy" rating for the company in a research note on Friday, April 4th. Finally, Morgan Stanley set a $47.00 target price on Devon Energy and gave the stock an "overweight" rating in a research note on Wednesday, March 26th. Ten research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $43.87.

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.

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