Devon Energy Corporation (DVN) Position Maintained by Municipal Employees Retirement System of Michigan

Municipal Employees Retirement System of Michigan maintained its position in shares of Devon Energy Corporation (NYSE:DVN) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 16,750 shares of the energy company’s stock at the end of the first quarter. Municipal Employees Retirement System of Michigan’s holdings in Devon Energy Corporation were worth $699,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Lincluden Management Ltd. boosted its position in shares of Devon Energy Corporation by 14.3% in the fourth quarter. Lincluden Management Ltd. now owns 248,407 shares of the energy company’s stock worth $11,345,000 after buying an additional 31,017 shares during the last quarter. HGK Asset Management Inc. boosted its position in shares of Devon Energy Corporation by 7.0% in the first quarter. HGK Asset Management Inc. now owns 319,570 shares of the energy company’s stock worth $13,332,000 after buying an additional 20,970 shares during the last quarter. Speece Thorson Capital Group Inc. boosted its position in shares of Devon Energy Corporation by 3.0% in the first quarter. Speece Thorson Capital Group Inc. now owns 108,888 shares of the energy company’s stock worth $4,543,000 after buying an additional 3,139 shares during the last quarter. Hoertkorn Richard Charles boosted its position in shares of Devon Energy Corporation by 0.7% in the first quarter. Hoertkorn Richard Charles now owns 27,965 shares of the energy company’s stock worth $1,167,000 after buying an additional 200 shares during the last quarter. Finally, Wealthfront Inc. boosted its position in shares of Devon Energy Corporation by 5.1% in the fourth quarter. Wealthfront Inc. now owns 11,488 shares of the energy company’s stock worth $525,000 after buying an additional 558 shares during the last quarter. Institutional investors own 77.51% of the company’s stock.

Institutional Ownership by Quarter for Devon Energy Corporation (NYSE:DVN)

Shares of Devon Energy Corporation (DVN) traded down 2.08% on Tuesday, hitting $30.67. 1,148,711 shares of the stock traded hands. Devon Energy Corporation has a 52-week low of $30.44 and a 52-week high of $50.69. The stock has a market cap of $16.12 billion, a P/E ratio of 52.07 and a beta of 2.10. The stock’s 50 day moving average price is $35.62 and its 200 day moving average price is $41.88.

Devon Energy Corporation (NYSE:DVN) last announced its quarterly earnings data on Tuesday, May 2nd. The energy company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.40 by $0.01. Devon Energy Corporation had a net margin of 2.34% and a return on equity of 4.25%. The business had revenue of $3.55 billion during the quarter, compared to analysts’ expectations of $2.98 billion. On average, equities analysts expect that Devon Energy Corporation will post $1.89 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.77%. The ex-dividend date is Thursday, September 14th. Devon Energy Corporation’s payout ratio is 43.64%.

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DVN has been the topic of a number of analyst reports. Scotiabank set a $54.00 target price on shares of Devon Energy Corporation and gave the stock a “buy” rating in a research report on Monday, March 27th. BMO Capital Markets reiterated a “buy” rating and issued a $50.00 target price on shares of Devon Energy Corporation in a research report on Wednesday, March 22nd. Zacks Investment Research cut shares of Devon Energy Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, February 21st. Credit Suisse Group reiterated a “buy” rating and issued a $57.00 target price on shares of Devon Energy Corporation in a research report on Friday, March 31st. Finally, Royal Bank Of Canada set a $53.00 target price on shares of Devon Energy Corporation and gave the stock a “buy” rating in a research report on Monday, May 29th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $51.95.

In other Devon Energy Corporation news, Director Robert A. Mosbacher, Jr. sold 800 shares of Devon Energy Corporation stock in a transaction that occurred on Friday, April 21st. The shares were sold at an average price of $39.18, for a total transaction of $31,344.00. Following the completion of the sale, the director now directly owns 23,308 shares in the company, valued at approximately $913,207.44. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.98% of the company’s stock.

About Devon Energy Corporation

Devon Energy Corporation is an independent energy company. The Company also controls EnLink Midstream Partners, L.P. (EnLink). The Company’s segments include U.S., Canada and EnLink. The Company is engaged primarily in the exploration, development and production of oil, natural gas and natural gas liquids (NGLs).new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “DVN”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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